Security Freeze Legislation - assets aarp 2025

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You may be able to open another account at a different bank, depending on the reason for the freeze.
Its important to always protect it. Even later in life, having good credit is important. It can help you get a loan, rent an apartment, or buy a home. freeze on your credit report can help protect against fraud.
A credit freeze, also known as a security freeze, is a free and easy way to help protect yourself from identity theft. You can place a freeze online through the TransUnion Service Center with no impact to your credit score. Once you place a freeze, you can unfreeze it at any time.
The bank running the check will see this in your report from ChexSystems and may deny you an account. So while bad credit wont directly lead to being denied for a checking or savings account, the behavior that leads to bad credit has a potential to do so.
While a freeze is in place, nobody can open a new credit account. A freeze is free to place and lift and it doesnt affect your credit score.
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Keep in mind that if you plan to open up a new account/loan (mortgage, home equity line, credit card, auto, etc.), or apply for a new job, youll need to unfreeze your account.

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