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Experian launches CreditLock for protection against identity fraud

By Gloria Methri

January 13, 2023

  • Credit Application
  • CreditExpert
  • CreditLock
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Experian, CreditLock, Identity Plus, CreditExpert, identity fraud, credit applications, UKExperian has launched CreditLock, a new feature that will enable customers to lock their Credit Reports at the touch of a button. CreditExpert and Identity Plus customers can ‘lock’ or ‘unlock’ their Experian Credit Report using a toggle switch in the app or online.

Certain high-risk credit applications (such as a loan, mortgage, or credit card) will be blocked by a ‘locked’ report. The report can be instantly ‘unlocked’ using the same toggle either in the app or online. This means it is instantly accessible if the consumer wishes to make a genuine application for credit.

Using real-time alerts, the feature will also let customers know about any new credit searches in their name, and if it has stopped any fraudulent applications on their behalf.

Experian says a fraudulent application blocked by CreditLock will have no impact on a person’s credit score. The launch comes following data that shows at least one in four UK adults have fallen victim to fraud, with 75% of adults having been targeted.

Jayne Sankoh-Beacom, Head of Product Management at Experian said, “With the cost of living continuing to increase, and fraud statistics on the rise, it is more important than ever for people to protect their Experian Credit Scores. The addition of CreditLock enables our customers to better protect themselves against possible identity theft.”

“Our goal is to create products that help improve people’s financial well-being and give them more control over their finances. With this new feature, we can now give our customers that extra layer of protection against identity fraud.”

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