When should I use a credit freeze?

A credit freeze is a tool that can be used to help protect your financial information and credit history from fraud or identity theft. It restricts access to your credit report and stops any new accounts from being opened in your name. When should you use a credit freeze? The best time to use a credit freeze is when you suspect that your financial information or identity has been compromised. This could include seeing unauthorized charges on your credit card or bank statement, receiving letters or emails from companies confirming new accounts that you don’t remember opening, or being contacted by debt collectors for debts you don’t recognize. You may also want to consider using a credit freeze if you’ve been the victim of mail theft, if you’ve lost your wallet or if you’re certain that your personal information has been exposed to a data breach. A credit freeze can help prevent potential thieves from further accessing your data and opening new accounts in your name. In Minnesota, you can freeze and unfreeze your credit report at each of the three major credit bureaus—Equifax, Experian, and TransUnion—without any cost. You can do so by visiting the websites of each credit bureau or by mailing in a request. It is important to note that a credit freeze does not affect your credit score and does not stop you from using any existing accounts.

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When should I use a credit freeze?

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