Stop identity thieves in their tracks: Freeze your credit

Think your personal information may have been stolen?  A credit freeze can help stop identity thieves from opening new accounts in your name.

With data breaches happening regularly, criminals can steal personal information and potentially sell or share it online. If your information has been exposed, or you want an extra layer of protection, consider freezing your credit.

What is a credit freeze?

A credit freeze restricts access to your credit report, making it much harder for an identity thief to open a new credit account in your name. You can place a freeze at any time, for any reason, and it’s especially useful after identity theft, a data breach, or a lost or stolen wallet.

A credit freeze is:

• Free to place and lift.

• Available to anyone, for any reason.

• Not harmful to your credit score.

• In effect until you choose to lift it.

To place a freeze, contact all three major credit bureaus: Equifax, Experian, and TransUnion. When you legitimately need to apply for credit, such as financing a car or opening a new credit card, you can temporarily lift the freeze. You can then freeze your credit again afterward.

Consider a fraud alert, too

If you believe you may be a victim of identity theft, you can also place a free fraud alert on your credit reports. A fraud alert tells lenders to take additional steps to verify your identity before approving new credit in your name. Other types of fraud alerts are also available depending on your circumstances.

Learn more from the Federal Trade Commission about credit freezes and fraud alerts and which option may be right for you.

If your identity has been stolen, report it at IdentityTheft.gov. You’ll receive a free, personalized recovery plan with steps to help you recover and protect yourself.

Don’t wait for identity theft to happen. A credit freeze is a simple, free step that can help put you in control of your financial information.