Every week, it seems there is another massive data breach. Hospitals, banks, and retailers are hacked, exposing millions of Social Security numbers. For seniors, who have spent a lifetime building perfect credit, this is terrifying.
You might be tempted to pay $20 or $30 a month for “Credit Monitoring” or “Identity Theft Protection.”
Stop. You can get better protection for free.
The single most effective tool to stop identity thieves is a Credit Freeze (also known as a Security Freeze). It acts as a “digital padlock” on your credit report. If a thief tries to open a credit card or take out a loan in your name, the bank will be blocked from seeing your file, and the application will be denied instantly.
As your trusted advocate, we are here to walk you through the simple, free process of locking down your financial identity forever.
Key Takeaways
- It is Free by Federal Law: You never have to pay to freeze or unfreeze your credit.
- It Stops New Accounts: A freeze prevents new creditors from seeing your file. It does not stop current creditors or Social Security.
- It Does Not Hurt Your Score: Freezing your credit has zero impact on your credit score.
- The “Big Three” Rule: You must freeze your file at all three major bureaus (Equifax, Experian, TransUnion) for it to work. Freezing just one is like locking the front door but leaving the back window open.
Freeze vs. Lock vs. Alert: What’s the Difference?
The industry uses confusing terms to try to sell you products. Here is the honest breakdown of the three security levels.
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Feature
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Credit Freeze (Best)
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Credit Lock (Good)
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Fraud Alert (Weakest)
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|---|---|---|---|
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Cost
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FREE (by Law)
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Often costs a monthly fee (bundled with monitoring).
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FREE
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Protection Level
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$50 (Usually $0)Maximum. No one can access your file without your PIN/Password.
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$50
High. Similar to a freeze but governed by a contract, not law.
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Low. Tells lenders to "call you" before opening credit, but they aren't legally required to.
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Legal Protection
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Guaranteed by Federal Law.
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Guaranteed by the company's Terms of Service.
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Federal Law.
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Best For
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Seniors who want total security and don't plan to apply for new loans often.
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People applying for loans weekly who need instant unlocking via an app.
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People who just want a "warning flag" but not a lock.
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Your "Lock It Down" Checklist: How to Freeze All 3 Bureaus
You must contact each bureau individually. Use this checklist to track your progress. It typically takes about 30 minutes total.
- [ ] 1. Freeze Equifax
- Online: Equifax.com/personal/credit-report-services
- Phone: 1-800-349-9960
- [ ] 2. Freeze Experian
- Online: Experian.com/freeze
- Phone: 1-888-EXPERIAN (1-888-397-3742)
- [ ] 3. Freeze TransUnion
- Online: TransUnion.com/credit-freeze
- Phone: 1-888-909-8872
Wise Tip from Sagewise: When you set this up, you may be given a PIN (Personal Identification Number). Write this down and put it in your fireproof box or “Peace of Mind” folder. Do not lose it. You will need it if you ever want to buy a car or refinance your home.
Find a Safer Credit Card (If you’ve frozen your credit, ensure the card you do use has $0 Fraud Liability. Check our top picks.)
The "Thaw": How to Use Your Credit When Frozen
“Freezing” sounds permanent, but it isn’t. You are in complete control. If you need to apply for a new credit card, buy a car, or refinance your mortgage, you can temporarily “Thaw” (unfreeze) your credit instantly, often in less than 15 minutes.
- The Process: Log into the online accounts you created for each bureau in the step above. You can manage the thaw entirely from your computer or phone.
- The Best Option (“Temporary Lift”): Instead of permanently unfreezing your credit, select the “Temporary Lift” option. This allows you to set a specific date range for your credit to be visible (e.g., “Unlock from May 1st to May 5th”).
- The Result: Your credit file is open for the bank to check during those dates so you can get approved for your loan. Then, it automatically re-locks itself on the date you chose (e.g., May 6th). You never have to remember to freeze it again, ensuring you are never accidentally left unprotected.
Common Myths About Credit Freezes
Myth 1: “I can’t use my credit cards if my credit is frozen.” False. A credit freeze only affects new credit applications (like applying for a store card or a mortgage). It has absolutely no effect on your existing accounts. You can still use your credit cards, debit cards, and ATM cards exactly as you do today to buy groceries and gas. Your current banks can still review your file for routine account maintenance.
Myth 2: “It will lower my credit score.” False. A freeze is a security setting, not a financial penalty. It has zero impact on your FICO or VantageScore. Your score will continue to go up and down based on your payment history and debt levels, just as it always has. Freezing your credit essentially “hides” the report from strangers, but the score underneath remains healthy and active.
Myth 3: “It stops me from getting my Social Security check.” False. Government agencies (like the Social Security Administration or the IRS) and their agents are exempt from the freeze. They can still access your file for administrative purposes, tax verification, or benefits determination. Freezing your credit will never interrupt your federal benefits.
Frequently Asked Questions (FAQ)
No. A freeze stops someone from opening a new account in your name (Identity Theft). It does not stop someone from stealing your existing credit card number and buying a TV (Credit Card Fraud). To protect against that, you need a card with $0 Fraud Liability and transaction alerts.
For a job: Usually, no. Employment background checks are generally exempt from the freeze. For an apartment/nursing home: Yes. Landlords run a “hard pull” on your credit. You will need to ask them which bureau they use and do a “Temporary Lift” for a few days.
Yes. Your credit files are separate. If you freeze yours but leave your husband’s or wife’s open, thieves can still target them to open joint accounts or loans. You must do this process for both of you.
Yes, and you should do it immediately. It will stop the thieves from doing further damage. You should also visit IdentityTheft.gov to file an official report with the FTC.
It is $0. Before 2018, fees were common. Now, under federal law (the Economic Growth, Regulatory Relief, and Consumer Protection Act), placing, lifting, and removing a freeze is free for everyone in all 50 states.
Find the Best Credit Card Rates (Ensure your wallet is as safe as your credit report. Compare secure cards today.)
