What is a “credit freeze” and should I place one on my credit file?
In some states, you have the right to put a “credit freeze” on your credit file, so that no new credit can be opened under your credit file without the use of a pin number that is issued to you when you initiate the credit freeze. Since the instructions for how to establish a credit freeze differ from state to state, please contact any of the three national credit bureaus to find out more information. As mentioned above, to place or remove a credit freeze, there may be a charge per action, usually $5-$20, depending on that state in which you reside. Please be advised that placing a credit freeze may restrict your ability to obtain new credit and you may be charged additional fees to “lift” a credit freeze to allow a particular creditor to check your credit history.
