Credit Freeze: The Differences Credit Lock To clear up any confusion, here’s a side-by-side table of the differences between a credit lock and credit freeze. The credit reporting bureaus offer credit lock services, too. The paid services promise to protect your credit information, though their methods differ from company to company.Ī credit freeze is something you initiate directly with one (or all) of the major credit reporting bureaus: Equifax, TransUnion and Experian. Other companies offer locking services too: Credit Karma has a beta credit lock program (for TransUnion only).Ĭredit locking is a service that almost always costs money, usually in the form of a subscription. You’ve probably seen commercials for LifeLock. The Difference Between a Credit Lock and a Credit Freezeĭespite having similar names, a credit lock and a credit freeze do totally different things.Ĭredit locks are typically administered by private companies. In this article, I’ll explain the difference between a credit lock and a credit freeze and why Clark thinks one is clearly better than the other. You may be wondering whether a credit lock is the same as a credit freeze. But instead of freezing your credit, many companies, most notably LifeLock, promote locking it. A credit freeze is the best way to protect your financial information from criminals looking to defraud you, says money expert Clark Howard.

Equifax freeze vs lock