Buy in the quantities you need for the next week or two. If you must store for a longer time, hard cheeses like Cheddar can be frozen.
Leave Cheddar in its original packaging and tightly cover with plastic wrap. This reduces air circulation, which in turn reduces the possibility of mold.
Store Cheddar in the coldest part of your refrigerator – not on the door.
When using frozen Cheddar, let it thaw out in the refrigerator for 24 hours before use. Rapid thawing causes a breakdown between the moisture and oils in the cheese.