Webopedia on Google+Webopedia on TwitterWebopedia on FacebookTech Bytes Blog
Main » TERM » C »

credit freeze

(kred'it freez) (n.) Also known as a credit security freeze or security freeze. A credit freeze is a method by which a consumer can limit access to his or her credit report to companies with which he or she has a pre-existing credit relationship, such as mortgage, auto loan and credit card, or a company they wish to enter into a credit relationship with.

By freezing their credit report, consumers can block the opening of a new credit account without their specific permission. When the consumer wants to open a new credit account, they can lift the freeze to allow access to their credit report by the potential creditor.

Depending on state law, potential employers, insurance companies, landlords, collection agencies and other non-creditors can still access a person's credit report. But, it is unlikely that an identity thief would be able to open an account in the name of the consumer. 

See "Credit Freeze Can Protect Against Identity Theft" in the Did You Know...? section of Webopedia.
See also "Defend Yourself Against Identity Theft" in the Did You Know...? section of Webopedia.







TECH RESOURCES FROM OUR PARTNERS
LATEST ARTICLES
8 Agenda Apps to Help Students Stay Organized

Webopedia's student apps roundup will help you to better organize your class schedule and stay on top of assignments and homework. Read More »

List of Free Shorten URL Services

A URL shortener is a way to make a long Web address shorter. Try this list of free services. Read More »

Top 10 Tech Terms of 2015

The most popular Webopedia definitions of 2015. Read More »

STUDY GUIDES
The 7 Layers of the OSI Model

The Open System Interconnection (OSI) model defines a networking framework to implement protocols in seven layers. Use this handy guide to compare... Read More »

Computer Architecture Study Guide

Webopedia's computer architecture study guide is an introduction to system design basics. It describes parts of a computer system and their... Read More »

What Are Network Topologies?

Network Topology refers to layout of a network. How different nodes in a network are connected to each other and how they communicate is... Read More »