I went back and forth on freezing my credit for weeks before I actually did it. As a personal finance editor covering identity theft, I knew it would make it harder for cybercriminals to open a new credit account in my name — but it would also add a few extra steps for me to do the same.When you freeze your credit, you have to manually unfreeze or “thaw” it with each of the three major credit bureaus whenever you want to apply for a new credit card, car loan or mortgage.The process of freezing your credit isn’t so straightforward either. It involves signing up for individual accounts with Equifax, TransUnion and Experian and freezing your credit manually online or by phone or mail. But there are two benefits that sold me on it. First, freezing your credit is absolutely free. And second, you get peace of mind in knowing you’ve neutralized a major tool in identity thieves’ playbook. Why I froze my credit reportsData breaches happen more often than you think, across multiple industry sectors. And chances are, your data has been compromised at least once. In 2024, Ticketmaster and AT&T reported data breaches that affected millions of customers. And hacks of background search company National Public Data and UnitedHealth Group subsidiary Change Healthcare also compromised the personal data of hundreds of millions of people. But if you’re worried about new credit accounts being opened in your name, a credit freeze can offer some peace of mind.I’ve noticed an uptick in the amount of scam messages I receive on my phone and in my email inbox over the past year. Most are easy enough to sniff out, but some were fairly well researched. I’ve received a variety of messages asking me out for ribs and even offering me new job opportunities. The barrage of messages, phone calls and emails make me think that at any given moment — while distracted or in a rush to get back to my desk for my next meeting — I may fall victim to a scam that could lead to identity theft. Freezing my credit is one of the best ways to protect your data and money, but it’s not foolproof. Fraudsters and identity thieves might still gain access to my personal information via existing accounts. I can limit the damage, however. Read more: 5 Signs Your Personal Data Is on the Dark Web, and What You Can Do About ItHow I froze my credit with TransUnion, Equifax and ExperianWhen you freeze your credit, you’ll need to do it with each of the three main credit bureaus. That requires setting up accounts with each — a process that took about 30 minutes online. Generally, you’re asked for the same information: your name, birthday and the last four digits of your Social Security number. You then need to complete two-factor authentication via text or email. TransUnion and Equifax have dedicated tabs available to you on your dashboard to freeze your credit after you create an account. A few clicks, and I was all set.Experian makes this option a bit more difficult to find. After some clic
Mer. Feb 5th, 2025
