New Delhi, May 28 -- With identity theft and data breaches becoming more frequent, it has never been more important to protect your credit profile. One of the best ways to protect your financial identity from unwanted access is through a credit freeze.

A credit freeze is one tool that can take away access to your credit report. Once a credit freeze is in place, it prevents any credit card issuer, lender, or even a fraudster, from accessing your credit report. Also, the credit freeze will stop new accounts from being created in your name. If you choose, a credit freeze can be temporarily lifted or permanently removed, and it does not affect your credit score.

A credit freeze is helpful in all of the following situations:

"A credit freez...