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The biggest benefit a credit freeze can offer you is legal protections, that’s something you won’t find with a credit lock. That’s something you want to remember before you ultimately choose which one you’re going to use.
If you do freeze your credit with the 3 key credit reporting bureaus, which is TransUnion, Experian and Equifax, you will be restricting access to your credit reports. Due to this, credit lenders are not going to be able to see your information. We can almost guarantee you that a credit lender is not going to give you credit if they can’t access your credit reports. The good news, it does protect you from someone opening up fraudulent accounts in your name. In order to unfreeze your credit report, it will require a password protected account or PIN.
You can sign up for a credit lock at each credit bureau’s website and you can also access the their mobile app to either lock or unlock your credit report as needed. Each credit bureau offers an unique version of their credit lock service, so they’re going to differ from one another. Before you sign up with each, make sure you read exactly what each one offers.