Definition
A security measure that restricts access to your credit report, making it harder for identity thieves to open accounts in your name.
What to consider
- Freeze your credit if you’re worried about identity theft.
- Know how to lift it temporarily if you need new credit.
- Keep your contact details updated with the bureaus.
Real world scenarios
- After noticing a data breach at her favorite store, Lisa places a credit freeze on all three credit bureaus. She feels safer knowing new credit lines can’t open in her name.
- Saul wants a mortgage, so he temporarily lifts his credit freeze for the bank’s hard inquiry. Once approved, he reactivates the freeze to maintain security.
- A free credit monitoring service alerts Chi of suspicious attempts to access his report. He quickly applies a freeze, halting unauthorized activity in its tracks.
Related terms
Related Playbooks
Get instant access to all our expert playbooks and 1-1 financial coaching when you join the Bolder Money community. Learn more here.
Budgeting & Spending
Creating Your First Spending Plan: A Step-by-Step Guide
Budgeting & Spending
Healthy Online Shopping Habits Blueprint
Budgeting & Spending
Healthy Food Spending Habits Guide
Budgeting & Spending
Smart Gift-Giving Strategy Guide
Budgeting & Spending
Smart Strategies for Cutting Back Expenses
Budgeting & Spending
Zero-Based Budgeting: Your Guide to Intentional Spending Success
