diff --git a/lib/vtls/curl_schannel.c b/lib/vtls/curl_schannel.c
index b3fe52695960291cf7877276c2cf26cb4836336a..787929c1daf7ed5912659d956cd4aac41758719b 100644
--- a/lib/vtls/curl_schannel.c
+++ b/lib/vtls/curl_schannel.c
@@ -1218,9 +1218,14 @@ void Curl_schannel_session_free(void *ptr)
 {
   struct curl_schannel_cred *cred = ptr;
 
-  if(cred && cred->cached && cred->refcount == 0) {
-    s_pSecFn->FreeCredentialsHandle(&cred->cred_handle);
-    Curl_safefree(cred);
+  if(cred && cred->cached) {
+    if(cred->refcount == 0) {
+      s_pSecFn->FreeCredentialsHandle(&cred->cred_handle);
+      Curl_safefree(cred);
+    }
+    else {
+      cred->cached = FALSE;
+    }
   }
 }