Credit Freeze vs. Lock: What’s the Difference?

Credit locks are best used as a preventative measure against potential identity theft and fraud. Like a credit freeze, it may make sense to keep your credit locked whenever you aren’t actively applying for a new loan or line of credit.

However, some experts recommend locking your credit only if you suspect fraudulent activity, so your credit is ready for lenders to access if you need to apply for credit. But, you can always use a credit lock as a proactive measure (even if no fraud is suspected) to ensure your credit is continuously protected.

Like a credit freeze, it typically makes sense to keep your credit locked whenever you aren’t actively applying for a new loan or line of credit, although some experts recommend locking your credit only if you suspect fraudulent activity. They suggest doing this so your credit is ready for lenders to access if you need to apply for credit. But, you can always use a credit lock as a proactive measure (even if no fraud is suspected) to ensure your credit is continuously protected.

Pros and cons of a credit lock

A credit lock can be more beneficial than a freeze since it’s quick and convenient. It also provides proactive protection in a timely fashion since you can place a lock on your credit within minutes.

The downside of a credit lock includes having to contact all 3 bureaus to get full protection. And, while some bureaus do offer this free of charge, others will present you with a fee, so be sure to check when looking to lock your credit.

Credit locks also aren’t protected by law, meaning you don’t have the right to one free of charge like you do with a credit freeze. This also subjects you to potential pricing and term changes from year to year.

How to lock your credit report

There’s no central place to lock all your credit reports at one time. Similar to a freeze, you’ll need to lock your credit reports at all 3 bureaus to ensure your information is safe.

Here’s how to lock your report with each of the major bureaus: