You will be asked some questions to confirm your identity, but it only takes a few minutes. This process can be done online or over the phone. To set up a security freeze, you must contact each of the credit bureaus individually. Unlike credit monitoring or fraud alerts, a security freeze stops identity theft from happening rather than alerting you to fraud after it has occurred. That is not convenient, so avoid this approach.Ī security freeze gives you complete control of your credit file and is the absolute best way to protect your credit and identity. A fraud alert, however, expires after 90 days and needs to be continuously renewed. A fraud alert can be placed on your account following any fraudulent activity and requires a business to verify your identity before issuing any new credit. The other option, fraud alert, offers more protection than credit monitoring but does not provide you with full security. LifeLock alerts you after an identity theft has occurred instead of preventing it from happening. The same is true for LifeLock, a company that has been repeatedly fined by the government for unfair and deceptive trade practices. You’ll still have to put in the time to get your file corrected. That is not good protection against identity theft. Instead, they alert you of a potential fraud after the fact-if their monitoring claims hold true. Credit monitoring does not stop a thief from opening a new account in your name. It is imperative that you freeze your credit immediately at the big three credit bureaus-Experian, Equifax, and TransUnion.Ī security freeze offers greater protection than the highly advertised credit monitoring and fraud alert. That PIN must be used in order for anyone to access your credit file or add new credit in your name. A security freeze locks your credit file at each bureau with a special PIN that only you know. A hacker can use that data to steal your identity and obtain new credit without your knowledge. Given the sheer number of recent data breaches, it’s very likely that your personal information-name, birthdate, Social Security number-has already been exposed. It makes it easy and quick to obtain new lines of credit-you fill out an application, the lender checks your credit, and you’re approved if you meet the standards. By default, your credit files at Experian, Equifax, and TransUnion are open and unsecure. The credit agencies have been reluctant to share this fact because it disrupts the low-friction credit system. You can with something called a credit freeze or security freeze. After each new “unprecedented” hack, you’re rushed into a free credit monitoring program that promises to watch your files and alert you to any unusual activity.īut is that enough to truly keep you safe? Shouldn’t you be able to stop criminals from fraudulently opening new credit rather than being alerted after the fraud has taken place? The headlines come at us constantly-143 million records leaked at Equifax, one billion exposed in a Yahoo breach, and 110 million records compromised at Target. Learn about a simple step you can take to protect your identity today. When you're ready to shop for a loan or lift the freeze for any other reason, you can call the phone numbers or visit the websites listed above.The latest data breach may have you worried about your personal information. Write down the PINs and online account passwords, and keep them in a safe place at home. (Fill out and submit this form (opens in new tab) to request a freeze by mail.)įreeze your credit with Experian (opens in new tab)įreeze your credit with TransUnion (opens in new tab)ģ. To submit your request by mail, use these addresses.įreeze your credit with Equifax (opens in new tab) The web pages or phone numbers below are the quickest avenues to imposing a freeze. Keep a pen and paper handy to jot down your PINs and passwords.Ģ. Think about the number you'd like to use for your PIN - don't pick something obvious, such as your birth date - and of passwords that you can use for your Equifax and TransUnion accounts, if you choose to place the freezes online. You can use a password-protected online account or provide identity-verification information by phone or mail. But if you go online, you can manage your freeze with a password-protected account instead. With TransUnion, you must provide a six-digit PIN to unfreeze your credit report by phone or mail. Experian requires a PIN of five to 10 digits. Depending on the credit agency, you may need to set up a PIN that you'll use to confirm your identity when you want to temporarily lift or permanently remove the freeze.
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