What does it mean to 'freeze' your credit?

Answer 1

You will no longer be able to charge any purchases on your credit card because you are over your limit or haven't been paying your credit card bills.

Answer 2

If you place a credit freeze on your credit file with the three major credit reporting agencies it means that no one can view your credit report. When your credit is frozen you must contact the credit agency and ask for your credit to be unfrozen. Then you provide a pin to the place where you want the loan from and they gain access to your credit report using the pin. Once they are done you must contact the credit agency to again freeze your report.

Answer 3

frozen credit is usually done or requested by the person in question. usually it's due to identity theft and by freezing your credit, it basically shuts down your credit altogether. you can still apply for credit cards, loans etc, however the process will be extremely lengthy and you will have to provide gobs of identification and stuff. you can unfreeze it and have it return to normal only if you wish. otherwise, the bureaus will send up red flags on all your reports and essentially lock them down to avoid any further identity theft.

Answer 4

Freeze is sometimes also done when there are problems with identity theft-- it often just means that nothing can be added or changed without further verification or until you 'undo' the freeze.

Answer 5

It means your credit is frozen and you can no longer use additonal credit or add to it. Frozen credit is not a good thing.

Answer 6

No more free stuff.

Answer 7

you won't have acces to it