A credit block is easy to get and well worth the little amount of time it takes to get. You may have heard about a credit block by one of its other names. Credit freeze and security freeze are two very common synonyms for a credit block. You can get a credit block by calling each of the three credit bureaus and requesting one. Some of the credit bureaus even allow you to block and unblock your credit online for free. This credit block starter guide will help you navigate all of the steps to setting up and managing credit locks.
How To Get a Credit Block
Getting a credit block is easy. We have created a guide for each of the three major credit bureaus here on this site. Each guide walks you through the setup process and tells you what to expect. You must follow the process for each credit bureau. There is no “easy button” for this process, unfortunately. The time you spend completing these setup processes is invaluable. A few minutes out of your day today can save you an immeasurable headache and anguish tomorrow.
- Setting up an Equifax Security Freeze
- Setting up an Experian Credit Freeze
- Setting up a TransUnion Credit Freeze
Is it Free?
Depending on the credit bureau it might be. Some credit bureaus to charge a nominal fee to lock and unlock your credit. However, it is very cheap to do. Each state regulates the cost of freezing and unfreezing your credit by law. Most states charge $10 or less to freeze and unfreeze your credit at each of the bureaus. While this is annoying, it is a small price to pay for the peace of mind in knowing you have taken a major step in protecting your financial future.
Can I Unlock My Credit?
Absolutely! You can unlock your credit either temporarily or permanently at any time. Most of the bureaus allow you to temporarily lift or remove your lock online or by phone. Here are some life events that may require you to temporarily unlock your credit.
- Getting a new job
- Opening a new credit account
- Renting an apartment
- Buying a house
Will it Affect My Credit Score?
One common question people ask about an Experian credit freeze is, “Will it affect my credit score?” The great news is, NO! Freezing your credit will not affect your credit score. You can also request your free annual credit report from each of the credit bureaus without lifting the freeze on your credit. In fact, freezing your credit can protect your credit score by preventing unauthorized activities.
You can visit each of the credit bureau websites to get more information about a credit lock.