Identity Theft Is On The Rise — Here's How A Credit Freeze Can Help Protect You
Identity theft is no joke.
Coronavirus has wreaked major havoc in all facets of life, and identity theft is no exception. The Federal Trade Commission (FTC) reported nearly 1.4 million cases of identity theft in 2020, about double the number from 2019.
Here are 9 important things you should know about credit freezes:
1. Having your personal info out there puts you at risk for identity theft.
2. A credit freeze restricts access to your credit report so thieves can't open new accounts in your name.
3. You’ll have to ask not one, not two, but THREE credit bureaus to freeze your credit.
4. You can freeze your credit anytime you want to.
5. It's free to freeze your credit and it won't hurt your credit score.
6. You will have to remember to unfreeze your credit before you can use it again.
7. Luckily, when you're ready to unfreeze, the process is pretty quick.
8. If a credit freeze doesn't sound right for you, you have other options to protect yourself.
9. But identity theft is *still* a risk — even with frozen credit.
Have you ever been a victim of identity theft? Share your story (and how you protect your info now) in the comments below.
And for more money tips and tricks, check out our other personal finance posts.