What does it mean to "lock credit"?

The term “lock credit” is used to describe an individual’s decision to seize control over his financial information. This decision prevents credit reporting agencies such as Equifax, TransUnion and Experian from releasing the credit report of that particular individual.

Credit reports are analyzed by mortgage lenders, car dealerships, credit companies and other agencies to find out whether a particular individual is considered a good credit risk. In addition, this system prevents an identity thief from applying for mortgages or other types of loans in the name of another individual. Credit lock is also known as credit freeze, credit lock down, credit report freeze and security freeze.