How Long Should I Keep My Credit Frozen?

A good way to protect yourself from identity theft and fraud is to have your credit frozen. However, it stops you from getting loans, credit cards, and other services that need a credit check. So how long should you freeze your credit before unfreezing it? Here are some things to think about when choosing the right time frame.

Why Freeze Your Credit in the First Place?

Freezing your credit prevents lenders and others from accessing your credit reports without your permission This helps stop thieves from opening fraudulent accounts in your name Here are some common reasons for freezing your credit

• You’ve been a victim of identity theft or had your personal information compromised in a data breach. Freezing your credit prevents further damage.

• You won’t be applying for new credit for an extended period of time. If you don’t plan to use your credit, freezing it adds an extra layer of protection.

• You want to guard against unauthorized credit checks Freezing your credit gives you greater control over who can access your credit reports

The Downsides of a Frozen Credit Report

While a credit freeze offers important protections it can also create hassles if you need or want to use your credit. Here are some examples

• You won’t be able to open a new credit card or get approved for a loan with frozen credit reports. Lenders can’t check your credit.

• A credit check is needed for a lot of services, like cell phone companies, utilities, and even some landlords. A credit freeze could lead to denied applications.

• You might have to temporarily lift the freeze if you want to get a job or insurance. A lot of places that hire people and give insurance check your credit as part of the application process.

How to Lift a Credit Freeze

Fortunately, it’s easy to lift a credit freeze either permanently or temporarily. You’ll have to contact each of the three credit bureaus – Equifax, Experian and TransUnion. You can do this online, by phone or by mail.

Online or phone requests are typically processed instantly. Mailing your request can take up to three business days. So if you need to thaw your credit quickly, avoid the mail option.

Factors That Determine How Long to Freeze Your Credit

If you’re debating how long to leave your credit frozen, here are some important considerations:

Why You Froze Your Credit Originally

If you froze your credit proactively before a long period of inactivity, you may feel comfortable permanently lifting the freeze when you need to use your credit again. But if you froze your credit due to fraud or a data breach, you may want to only lift it temporarily.

How Soon You Need Access to Your Credit

Do you plan to apply for a mortgage in six months? Or are you just casually comparing credit card offers? The urgency of your need to use your credit can help determine the ideal timeline for a temporary thaw.

Any Suspicions of Fraud

If you have any reason to suspect that your identity has been stolen, you may want to only lift the freeze long enough to complete a necessary credit check, then refreeze it again. Don’t leave your credit thawed indefinitely if fraud is a concern.

How Long Does It Take to Freeze and Unfreeze?

Because it’s quick and easy to freeze and unfreeze your credit these days, you don’t have to stress about leaving it unfrozen longer than necessary. You can refreeze your reports as soon as you complete your credit application.

Recommended Timelines for Thawing Your Credit

With all of that in mind, here are my general recommendations on timelines for keeping your credit thawed:

• 1-3 days – If you froze due to identity theft or fraud concerns and just need to lift it for a single application. Refreeze it after approval.

• 1-2 weeks—If you’re looking for a loan and want time to compare rates from different lenders after they check your credit reports.

• 1-3 months – If you’re applying for a major loan like a mortgage or student loan and need to keep your credit thawed during the entire application process.

• 6-12 months – If you proactively froze your credit but have no immediate fraud concerns and now need open access for things like credit cards and utilities.

• Indefinitely – If you originally froze as a preventative measure or before a period of inactivity on your credit reports and feel comfortable leaving it open ended now that you need access again.

The most important thing is that you understand the pros and cons of both freezing and thawing your credit reports. Weigh your risk factors, needs and timeline to find the ideal approach for your situation. And don’t hesitate to refreeze your credit again if new fraud concerns arise.

Frequently Asked Questions

Here are answers to some common questions about thawing frozen credit reports:

Can I re-freeze my credit report right away after thawing it?

Yes, you can refreeze your credit instantly once you complete the necessary credit check. The credit bureaus allow you to quickly toggle your freeze on and off as needed.

What if I only thaw my credit at one bureau?

Lenders will often check your credit at multiple bureaus. So you’ll want to thaw your credit at Equifax, Experian and TransUnion before applying if you want the best approval odds.

Is there a fee to temporarily lift my credit freeze?

No, there are no fees to temporarily or permanently remove a credit freeze. The bureaus are required to let you freeze and thaw your credit reports for free.

Can I get in trouble for freezing my credit report too much?

No, there are no penalties or limits on how often you can toggle your credit freeze on and off. Feel free to manage it as tightly as needed for your personal identity protection.

What if I forget to refreeze my credit after a temporary thaw?

No problem! Simply log back into your account at each bureau when you realize the freeze has expired and request a new freeze. This can be done online in seconds from your smartphone or laptop.

How long does it take for a credit freeze to update on my report?

Online and phone freeze requests typically update instantly once processed. Mailed requests can take up to three business days to go into effect. So avoid mailing your freeze request when possible.

Does freezing my credit report lower my credit score?

Freezing and unfreezing your credit reports has no direct impact on your credit scores. Your scores will remain unaffected by placing or lifting a freeze.

The Bottom Line

Freezing your credit is a smart protection strategy. But you’ll inevitably need to lift the freeze to use your credit again. Carefully weigh your personal situation and risk factors when deciding the ideal timeline for keeping your reports thawed. And remember you can always refreeze your credit the instant you complete an application. With online access, managing your credit freeze is quick and easy.