When You Might Not Want a Security Freeze on Your Credit Report

A security freeze is a hard lock on your credit.

In some circumstances, though, you might be better off leaving it as is.

A credit freeze can be helpful after you’ve been a victim of identity theft.

In some circumstances you’ll also want to do itwhen your credit card gets hacked.

This procedure prevents anyone from taking out credit in your name and places a fraud alert on your account.

And remember, creditors aren’t the only ones who may need access to your credit.

If you’re getting insurance or a new cell phone contract, your credit will need to be accessible.

Again, you’ll have to lift your credit freeze.

Credit reports aren’t just about borrowing money.

Employers doing a background check might also do the same.

Instead of a credit freeze, try a fraud alert.

That doesn’t freeze your credit, but warns anyone viewing your credit report that it may be compromised.

Check out the link for other benefits and risks of freezing your credit.

Pros and Cons of Freezing Your Credit| NerdWallet

Photo byBryan Rosengrant.