Identity theft is a major problem for Americans. But while hackers are increasingly able to bypass security measures, there are ways to protect yourself if you’re worried about your finances or know you’ve been the victim of a data breach.
A credit freeze at three credit bureaus restricts access to your credit report and prevents identity thieves from opening new accounts in your name.
When someone applies for a credit card or loan in your name, your file is marked as frozen and the credit bureau does not share your information with the lender. The potential thief is then denied the bill.
If you want to freeze your TransUnion loan, keep reading to learn more about the options available.
When to freeze a loan
If you believe your personal information has been exposed as a result of a data breach, or you have other reasons to believe that you are at risk, a credit freeze will help you get the situation under control. You will need to file a freeze request with all three credit reference agencies: TransUnion, Equifax and Experian.
The biggest benefit of freezing your credit is that it prevents attackers from using your name and social security number to open new financial accounts that could seriously damage your credit and ability to borrow.
Another benefit is that freezing your credit does not affect your score, so you can stay safe without losing your creditworthiness. Although the freeze used to be paid, it can now be initiated for free, so you don’t lose money while protecting your finances and your identity.
The block will not affect the accounts you already have, so you can continue to use your credit cards as usual. However, even your existing creditors will not be able to open new accounts for you while the freeze is in effect.
How to freeze a TransUnion loan
online
You can freeze your loan through the TransUnion website.
First, you need to create an account by filling out a short online form, providing your name, address, date of birth, and the last four digits of your social security number.
After verifying your account, you can log in and freeze your credit.
You can also file a dispute through your TransUnion account if you have already noticed suspicious activity on your credit report.
By phone
To freeze a TransUnion loan over the phone, call 1-888-909-8872 to begin the process.
It may not be your credit history that has been compromised, but the credit of a loved one. You can request a TransUnion loan freeze for your husband, wife, or any of your children under the age of 15.
If you have a Power of Attorney (POA) for someone, such as a parent or other relative, you can also freeze their loan. However, you will have to call TransUnion directly to freeze your spouse’s loan, and you will need to mail in some supporting documents if you want to freeze your child’s loan. If you have a power of attorney for another adult, you can freeze his loan over the phone.
By mail
To freeze a loan by mail, send a written request to the following address:
TransUnion
PO Box 160
Woodlin, Pennsylvania, 19094
In this request, you will need to provide your name, address, and social security number.
Whether you choose to set up a phone or email lock, you will need to select a six-digit PIN that will be associated with your account.
Note. In cases where scammers open accounts in the name of a deceased loved one, you can send the death certificate to their creditors, who will then update their files. You can’t freeze their credit, but if the file says “deceased”, it will block thieves from opening accounts using their information.
How to unfreeze a loan
When you are ready to unfreeze your loan, you can simply log into the TransUnion website and request it be removed. You can also call the company directly and remove the hangover over the phone.
Other ways to prevent suspicious activity
If you have already noticed suspicious activity on your credit cards, call your creditors immediately and report fraudulent payments. They may void your existing cards and freeze your account until new cards arrive in the mail.
Time is of the essence, especially if someone has accessed your debit card or your checking account login details. View all your financial accounts and set up alerts for all activities so you know as soon as someone tries to use your credit cards or withdraw your money.
TransUnion also recommends changing passwords on all financial accounts, as well as freezing all activities if you know you were part of a data breach.
If you don’t want to freeze your credit but need an extra layer of security, you can set up a free fraud alert through TransUnion. Unlike a loan freeze, TransUnion will send a notification to other credit reference agencies, saving you time. Then, every time the lender receives an application in your name, they will call you to make sure that you are the one opening the account.
bottom line
Even with a credit freeze, vigilance is key. Check your accounts regularly, sign up for transaction alerts, and act quickly if you find yourself the victim of a data breach. Quick preventive action will help you protect your data and your money.
Editorial disclaimer
The editorial content on this page is based solely on the objective judgment of our contributors and is not based on advertising. It was not provided or ordered by credit card issuers. However, we may receive compensation when you click on links to our partners’ products.
