How to Freeze Credit Report To Protect Yourself Against Identity Theft
Oct 03, 2015
If your Social Security number gets hacked in any data breaches, including recently hacked T-Mobile , then there's a way to prevent hackers from misusing your identity (i.e. identity theft ). The solution here is that you can institute a security freeze at each of the three credit bureaus, Equifax , Experian , or TransUnion . Once frozen, nobody will be allowed to access your credit report, which will prevent any identity thieves from opening new accounts in your name. Because most creditors required to see your credit report before approving a new account. But, if they are restricted to see your file, they may not extend the credit or open a new account in your name. However, there are some disadvantages of doing so. 1. Cost The cost of a security freeze differs by state (check yours here ). However, it is often free for already affected people, but the issue is – if you want to let anyone check your credit, you will need to pay a fee every time to