What's up everybody welcome back to my channel today I wanted to talk about credit freezes. You can freeze your credit for free something that might be a lot of questions about it. Maybe like concerns about it, but I honestly think it's one of the best things you can ever do it. You have finance for life.

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The credit freezes. Okay, you can freeze your credit for free. I personally do it and I think it is just one of the best things that you can do for your financial life and I'm by no way shape or form a tie of financial advisor. But I definitely think this is a really great tool.

So, let's get right into it, so here it is, what is a credit freeze, so a credit freeze prevents institutions from running your credit. It also prevents you know, that's pretty much what it is. It prevents institutions from running your credit, whether that be credit card companies, whether that be auto loans mortgage. You know, whatever it prevents people from running your credit.

Here's one of the bigger cons whenever you want something you know exactly: it's got, you know, what's going to run it on your credit or not okay, so if you're going to go, get a mortgage, you know that that's going to be on there. So pretty much! You know if you have a fraudster out there. You know it's, you know, that's sin, you get a data breach or you know your social security number is compromised. Your identity is stolen, that's one of the worst things that could happen to a human.

If there was a credit freeze on file, then you're good, so pretty much TransUnion Equifax Experian. Those are the three credit bureaus you have to individually call them to do a credit freeze for each year. Rom, it's a very simple process, though it only took me. Ten minutes tops to do a freeze for all of them and got my personal identification number for all of them, which is your PIN? Okay, so you get a credit freeze.

You have a pin that you set up so whenever you are ready to unfreeze your credit, you can go ahead and give them that pin out of a freezer. Now this is perfect, but you also have to remember before you go out there and apply for things you might want to ask them hey what credit bureau do you guys use to check credit because you want to give them a quick call again, you can do This through the automated system, I did all of mine through the automated systems actors, you a couple of questions to make sure you are you and they give you a PIN number. So when you're ready to unfreeze your credit, you can do it as many times as you want. It does not cost you.

It does not affect your credit score. It does not damage your credit score and you can still get your free annual credit report. Okay, each year, so no effect to your score, no damage to me. It's all pros the only little con like I said you have to really make sure you're on top of when you're applying for credit cards when you're applying for mortgages when you're applying for apartments cars, whatever you want to do, you have to just make sure you Unfreeze it and then hurry up or refreeze it again.

So that's the only con, but when it comes to safety, when identity theft is something that is so big, I think this is an awesome feature again transient, Equifax and Experian. They would give you a pin that you set up, I believe one of them, two of them gives you a pin one of them. You set up your own, I believe, but Ito either way you have to have those pins. So please make sure you put them in a very safe place for you, so only you have access to them.

Do not share them with anybody. This will really ensure that you are protected, because a lot of identities have credit freezes are awesome. They are free. Each credit bureau has it, you can even test it.

So you know if you go ahead, I've tested mine, I have him, froze they're frozen, all okay, all of them are frozen. Each Bureau and I went and I applied for a credit card and pretty much came back and said due to your freeze. We cannot approve you, okay, just a man. Obviously, I'm just you know just to make sure it was on there and again it didn't have any effect to me because they couldn't pull anything okay so guys that is the video today.

Let me know: do you have a freeze on your report again? If you can really just take the time out, ten minutes, 15 minutes of your one day and do it and if you're very responsible with pens, I think this is one of the best options that you can do. This is the best security you can have as a human being when it comes to your credit, because if somebody gets a hold of it, it can be really detrimental and a very long time to recover from it thanks so much for watching my videos have a Good one.