What is a credit freeze?

A credit freeze, also known as a security freeze, is a way to protect your credit from being used without your consent. It ensures that any potential lenders or creditors cannot access your credit report unless you provide a PIN or password that you set when you started the freeze process. In New Mexico, the credit freeze is offered free of charge to all consumers. With a credit freeze, you can restrict access to your credit file so that it cannot be used for new accounts. This can be beneficial even if you think your identity has been compromised, as it can help prevent somebody from opening accounts in your name. It is also important to note that a credit freeze does not prevent you from using your credit cards or other forms of credit that you already have. It also does not interfere with other types of transactions, such as applying for a job or renting an apartment. In New Mexico, credit freeze regulations are covered by the Credit Card Dispute Resolution Law. This law sets out the rules for how credit freezes are to be used and the rights of the consumer. It also outlines how a consumer can place or lift a credit freeze. All credit reporting and banking institutions must comply with this law.

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What is a credit freeze?

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