How to Lock Your Credit in 2021 – What it Means and Why You Should Consider It
Have you been the victim of identity theft? Do you think you were involved in a data breach online?
You need to protect yourself from criminals looking to harm your credit and use their identity for themselves. You can request a credit lock from all three national credit bureaus and block access to any person or agency trying to do a credit check on you.
What Is A Credit Lock?
Locking your credit is a preventative measure you can take to prevent any person or agency from accessing your individual information. By taking this step, you actively prevent identity theft and any other fraudulent acts on your credit.
Knowing how to lock your credit and when it is essential will stop criminals from taking out a loan or opening any new lines of credit in your name because they will need a credit check.
How Do You Lock Your Credit?
You will need to request locks for each credit report to prevent all credit checks as you navigate your way through, avoiding identity theft. When you request your credit locks, you will need to: - Call Experian at (888) 397-3742 or request a freeze online at the Experian Freeze Center. - Call Equifax at (888) 298-0045 or create/access an online account to manage your freeze manually.
The cost will differ for each company. -Experian offers a program called ‘CreditWorks' that has a credit lock available and provides monthly access to all three of your credit reports. You also receive up to $1 million in identity theft insurance and notifications about new credit activity on all three of your credit reports. Experian also provides phone access to fraud and credit experts to help you resolve any issues.
How To Unlock Your Credit
Each credit bureau will request that you create a user account on their website or app when you join their program. When you are ready to unlock your credit, you will be able to log in and unlock your file with only one click.
Sadly identity theft and credit fraud are significant causes of concern when it comes to financial safety. It is not getting better as time goes on, so it is as crucial as ever to keep your personal information safe. You can always air on the side of caution and freeze or lock your credit as a proactive measure.
When You Should Lock Your Credit
How A Parent Can Freeze A Minor's Credit
Putting a freeze on your child's credit is a free way to restrict access to their personal information. It also provides the opportunity to give them the blank slate they deserve until they are 16.
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