What is a credit freeze?

A credit freeze is a tool used to protect your credit and financial accounts from Identity Theft. A credit freeze makes it harder for someone to open a new account in your name. It locks access to your credit report, preventing lenders from being able to review your credit history. In Rhode Island, credit freeze services are available from all three major credit bureaus: Experian, Equifax, and TransUnion. When you place a credit freeze on your accounts, the credit bureaus prevent anyone from accessing your credit report or opening any new accounts. This means that you will have to authorize each and every application for credit or services in your name. When you place a freeze on your credit file, you will be provided with a unique PIN or password that you will need to make changes to your freeze or to lift the freeze completely. It is important that you keep this PIN or password safe and confidential. A credit freeze is a powerful tool when it comes to protecting your credit information in Rhode Island. It can help to reduce the risk of Identity Theft and is a great way to make sure that your accounts are safe. It is important, however, to understand the process of freezing and thawing your credit file before you take action. Be sure to research and understand the process before deciding if a credit freeze is right for you.

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