What is a credit freeze?

A credit freeze is accurately described as a restriction on credit report access. When an individual places a credit freeze, they are ensuring that their credit report cannot be accessed by lenders and other entities without their explicit permission. This is an important tool for protecting against identity theft, as it prevents potential creditors from viewing the individual's credit history and issuing new credit accounts in their name without authorization.

In contrast, the other options do not define a credit freeze. For instance, increasing credit scores typically involves responsible credit management practices like timely payments and reducing overall debt, not restricting access to credit reports. Additionally, a promotional offer by credit companies would relate to marketing strategies rather than a safeguard against fraud. Lastly, an automatic payment plan is a financial arrangement to automate bill payments, which does not relate to credit report security. Therefore, identifying a credit freeze as a restriction on credit report access captures its essence perfectly.