Credit freeze, like fraud alert can be one of the important devices to prevent the attack of identity theft. With the upsurge of identity theft, not only credit freeze fraud alerts are used as protectionism but also credit freeze is placed as a safeguard.
Many baffle themselves with question that what is a credit freeze and what are the benefits associated. Moreover, at times the conception of fraud alert protection is also mixed up with credit freeze. Credit freeze and fraud alert are totally two different protection tools for identity theft, and should not be confused.
Credit freeze
A credit freeze also known as credit lock, where you require paying for totally locking your credit. This states that no lender will have access to your individual credit report. This has been available by the bureaus in all 50 states. In case, you want to state an application for credit, you need to ask the credit agency to terminate the credit freeze. It is only after that, the lender will be able to gain access to the credit report. Afterwards the credit freeze can be reinstated. Read the rest of this entry »
