Will a Credit Freeze Prevent Me From Renting an Apartment?

When you decide to move from your current apartment to a new one, the landlord or property manager at the new complex will likely pull your credit information to determine if you are likely to be a good tenant. If you have placed a credit freeze on your personal information with the credit bureaus, you need to remember this freeze when you give your application to the landlord.

PIN Codes

When you put a credit freeze on your credit information with the credit bureaus (Experian, TransUnion and Equifax), this makes it much more difficult for an identity thief to steal your personal information. The freeze alerts the credit bureaus not to release your personal information to anyone who asks, according to MSNBC.

At the time you ask the credit bureaus to put a freeze on your personal information, you are able to create a PIN code or password. When you need to temporarily "thaw" your information, give the PIN code and password to the credit bureaus. You do have to pay $10 to the credit bureaus each time you request that your information be thawed.

Benefits of a Freeze

Putting a freeze on your personal information with each credit bureau makes it virtually impossible for an identity thief to open any accounts in your name, according to Consumer Action's Joe Rideout.

When a lender cannot gain access to your personal information, they won't open any new accounts, especially to someone who is trying to assume your identity.

The price for requesting and placing a freeze on your credit information varies from state to state. Senior citizens in 10 states are able to freeze their accounts at no charge; identity theft victims who are able to prove they have had their identities stolen are also able to get their credit information frozen for free. For others wanting to freeze their private information to prevent identity theft, the fee varies from state to state, although most set the fee at $10.

Drawbacks of a Freeze

When you want to apply for a loan -- or apply to rent an apartment -- you need to contact each credit bureau and ask it to temporarily unfreeze your credit information so the property manager or landlord can get the information. Credit-card companies can still access your private information as they send out their "pre-approved credit card offers." The freeze does not stop this from happening. Identify thieves can still get access to any existing debit or credit-card numbers and your Social Security number.

A credit freeze also does not stop your creditors from reporting derogatory information, such as late payments, to the credit bureaus.

Accessing Your Credit Report

When you find it necessary to access your credit report, you need to call each credit bureau and request a temporary unfreezing, which takes up to three days, according to Give Me Back My Credit.