Starting on September 21, 2018 the Federal Trade Commission (FTC) will be putting a new credit file protection layers in place that will allow consumers to contact any of the three major credit reporting agencies and request a freeze on their credit files free or charge.
The Economic Growth, Regulatory Relief, and Consumer Protection Act stipulates that the reporting agencies – Equifax, Experian, and TransUnion – have until the next business day to put the requested freeze in place. Consumers can also request to lift that freeze at any time and the agencies will have to comply within an hour.
To fully freeze your credit, you must do so with all three credit reporting agencies. When freezing your credit, you will create a pin or passcode. Should you unfreeze your credit report, you will need that pin or passcode to prove your identity.