Free Credit Freezes And More Credit Changes You Need To Know
New Law, New Rules
The days of paying to freeze your credit are over. Credit freezes are now free of charge for all Americans, thanks to the Economic Growth, Regulatory Relief, and Consumer Protection Act signed into law by President Trump in May.
While many of the Act's provisions are targeted at bank regulations, certain changes directly relate to one of your most critical tools as a consumer – your credit report, and the steps you can take to protect it.
Free Freezes
When you apply a credit freeze, no potential creditor can access your credit report to establish a new line of credit – even if you are the one making the request.
To apply for new credit, you must remove the credit freeze ("thaw" the account) prior to submitting the credit application and reapply the freeze after the new account has been established. You must freeze your accou...
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