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
DID YOU KNOW?
Apple Pay Promises to Strengthen Payment Security

Experts believe that Apple Pay and other competitive payment systems will be far more secure than cards, even cards equipped with EMV chips. Read More »

Internet of Things Shaping IT's Future

To make the IoT both work and pay off, IT is juggling upgrading and building app-centric networks, mapping out new data center architectures and... Read More »

What You Don't Read Can Hurt You

Does this sound familiar? An online service promises to help your small business cut costs, increase productivity, make your coffee and walk your... Read More »

QUICK REFERENCE
Webopedia Polls

The trend for the past two years has been for shoppers to spend more online during the holiday season. How do you typically shop for holiday... Read More »

How to Create a Desktop Shortcut to a Website

This Webopedia guide will show you how to create a desktop shortcut to a website using Firefox, Chrome or Internet Explorer (IE). Read More »

Flash Data Storage Vendor Trends

Although it is almost impossible to keep up with the pace of ongoing product releases, here are three recent highlights in the flash data storage... Read More »