How to Freeze Your Credit Report in 4 Simple Steps

Hey. Credit heroes are financial data breaches and identity thieves keeping you up at night. Well, today I'm going to share everything you need to know about credit freezes so you can avoid fraudsters and protect your credit. So you better stick around. My name is Daniel Rosen, and welcome to Credit Repair Business secrets. In the 20 years since releasing my first credit repair software, I have helped thousands of people repair their credit and filed millions of successful disputes with the credit bureaus. During that time, I experienced the very same challenges that many of you face, including bank errors and data breaches. And I've been the victim of identity theft. I learned the hard way how important it is to safeguard your credit. But I also learned that there's a special tool that can act like a personal bodyguard for your credit. I'm talking about the credit freeze. Now, there's a ton of information online about credit freezes, but not all of it is true. So today, I'm going to bust some myths, I'm going to reveal some secrets, and I'm going to explain everything you need to know to protect your credit. Here's how this relates to us. For those of you who are new to credit repair, a credit freeze restricts access to your credit report and prevents new accounts from being open in your name without your permission. Anyone can place a credit freeze even if you haven't been a victim of identity theft. You can freeze your credit for free with Equifax, Experian, and Transunion. The freeze lasts until you remove it, and once it's frozen, only you and authorized parties like law enforcement can access your credit report. The problem is, there are a few theories circulating in the credit repair industry that claim that freezing your credit report can help improve your credit. The most common claim is that if you freeze your credit report with the three major credit bureaus, Equifax, Experian, and TransUnion, and then you dispute an item on the frozen report, the creditor or bureau won't be able to verify it. And this is totally false. Freezing your credit report does not stop the dispute process. Another theory is that you can freeze supplementary credit agencies that provide information to the three major credit bureaus. But this will also not stop the dispute process. When you dispute an item on your credit report, the credit bureaus will still be able to access information from the supplementary credit agencies. Now, these theories and myths become popular because they sound great. But like most things that sound too good to be true, they are. Here's the thing to remember. Freezing your credit report is only a preventative measure. It does not affect your credit score or improve your credit at all. Other than protecting your credit from fraud, the only thing freezing your credit report does is stop lenders from accessing your reports, but it does not stop the dispute process. If you're looking to improve your credit, you should focus on following the proven steps of the factual disputing method. But if you're looking to protect your credit from outside harm, that's when you need to freeze your reports. Here's why this is important. There are plenty of reasons and situations when you should consider freezing your credit. In 2019, Capital One had a breach that exposed the personal data of 100 million customers. In 2018, 338 million guest records were stolen from Marriott International. And after each of these breaches, the credit bureaus recommended that consumers freeze their credit to guard against identity theft. But some breaches are even the fault of the credit bureaus themselves. In 2017, Equifax was hit by hackers and the personal data of 147 million people were stolen. And I was one of those people. After that breach, I kept experiencing identity theft. It was terrible. People kept opening new accounts in my name. I would get notices all the time in the mail about new accounts that I didn't recognize. I even got a letter saying that I had filed for unemployment, which I hadn't. I eventually got all those fake accounts closed, but it was a big huge hassle. I had to call and write to all those companies. I've had my credit frozen ever since. I only open it for very, very short windows when there's someone specific that I want to see my credit report and then I freeze it again. The bottom line is credit freezes prevent more damage. And if you're concerned about a data breach or suspicious accounts appearing on your credit reports, then it might be time to freeze your credit. Here's what you need to know. There are four simple steps to freezing your credit reports. Step one. You contact each of the three major credit bureaus, Equifax, Experian, and TransUnion. You can find the freeze page links for each credit bureau over there in our show notes. STEP 2 Provide your personal information. This will include your name, Social Security number and date of birth. Create a pin. This is a personal identification number that you'll need to use to unfreeze your credit report. Step four Confirm the freeze. Once you've completed the steps above, the credit bureau will confirm that your credit report has been frozen. If you make the request online or by phone, the three major credit bureaus are required to freeze your credit report within one business day. To unfreeze your credit report, you'll need to contact each of the credit bureaus individually and provide your personal information and pin. If you make the request online or by phone, the three major credit bureaus are required to lift the freeze within an hour. It might sound like a bit of a hassle, but I promise you the added security saves you time and money in the long run. And if you want six months of credit repair cloud software for free, plus access to our advanced disputing and business courses, go to creditrepaircloud.com freetraining and sign up for our Masterclass. Here's my final point. Just because the big banks and corporations and credit bureaus play fast and loose with your data, that doesn't mean you should live in fear of fraudsters and identity thieves. You have the power to protect your credit. So freeze your reports and only unfreeze them when it makes sense for you. And I'll end by saying, if you want to learn how to spot errors and dispute them even faster, check out my episode Credit Report 101. And if you'd like to get certified in disputing and gain confidence and grow your very own credit repair business, check out our Credit Hero Challenge. Doors are closing soon, so sign up right now@creditherochallenge.com and keep changing lives.