Protect Your Identity: Freeze Your Credit Now
It’s been said that Boomers and Gen X adults are very concerned about bad guys stealing their identities. Meanwhile, Millennials and Gen Z adults already assume that their identities have been stolen, and are instead most worried about being embarrassed on social media. Personally, I’m both concerned about keeping my identity safe AND assuming my identity has been stolen. This forces me to double-protect myself: fighting like hell to keep my data from being stolen in the first place, PLUS planning for a “what-if” scenario when a hacker does try to use my stolen information.
Your Identity’s Been Stolen, Now What?
Raise your hand if you’ve received a letter or email from a company alerting you that they were victims of a data breach, and your data (including your Social Security number) may have been stolen. Most of us have. It’s frustrating, yes. Now here’s a very effective step you can take to prevent that stolen identity data from being used: monitor your credit.
If the company offers you free credit monitoring from one of the 3 credit bureaus, take them up on their offer. When you sign up for one of these services, such as Experian Identity Works, you’ll get alerts anytime your data is used or appears on the dark web. This will let you know if someone is trying to apply for a credit card or open an account somewhere in you name.
What to Do If They Don’t Offer Free Credit Monitoring
Even if the breached company doesn’t offer you free credit monitoring, you need to take action. You can sign up and pay for the service yourself at one of the three major credit reporting companies: Experian, TransUnion, and Equifax. However, even if you decide not to sign up for their monitoring services, you should FREEZE YOUR CREDIT at each of these credit bureaus. It’s free and fairly easy to do. Once your credit is frozen, no one will be able to use your data to open up an account, apply for a loan, or even check your credit. Note: this also includes you. You’ll have to remember to unfreeze your credit when legitimately applying for a credit card or leasing a car, etc.
What’s the Difference Between Credit Freeze and Credit Lock?
If you sign up for the credit monitoring service, you may notice that you can “Lock” your credit. This is very confusing, but let me explain the difference:
Credit Lock: Freezes your credit, and no one can check it. You pay for it when you subscribe to the credit monitoring service. You get alerts when someone attempts to check your credit.
Credit Freeze: Freezes your credit, and no one can check it. It’s free. You do not get alerts when someone attempts to check your credit.
Either service–Lock or Freeze–will do the trick.
Taking Control Feels Good
Once you’ve successfully frozen your credit, you may notice that you’re sleeping better at night. If you need help with any of these services, please feel free to contact me. I’d be happy to help!