Investing If you are worried about getting hacked and, these days, who isnt a credit freeze is a precautionary measure that may be worth considering. Is a credit freeze an iron-clad, 100% guaranteed way to protect yourself from Identity Theft? Unfortunately, no. Just about anyone could fall victim, just like almost anyone could be.e a victim of a home burglary. But ask yourself this if there are two homes side-by-side, one with an advanced home security system and the other without, which home do you think would stand the greater risk of being burglarized? Think of credit freezing similarly – as an increased measure of security. While the term credit freeze may bring up some negative connotations in your mind, a credit freeze is actually a positive move you can make to reduce the chances of identity theft. The cost is minimal and now many of us have the option. Years ago, only victims of hackers could request credit freezes. In 2007, that changed. In that year, the three consumer credit bureaus all decided to let consumers request freezes. The fee is nominal typically $20 or less. .pare that with a credit monitoring service, which can run you over $100 yearly. In 2010, 47 states have laws requiring credit bureaus to offer their residents credit freezes. Some state laws arrange senior discounts for older consumers who request a freeze in California, for example, the fee per freeze is $10 but $5 if you are 65 or older. How does a credit freeze work? The person wishing to, in essence, seal their credit history would go online and contact one of the three credit bureaus – Equifax, TransUnion or Experian to request a freeze. (Sometimes this can be done via certified mail or even via phone.) The credit bureau would then issue a PIN for purposes of accessing those frozen credit reports. So, if a thief wanted to exploit that credit and/or credit history, he or she wouldnt be able to – without the PIN. If you need to apply for a loan or a job, you can thaw your frozen credit history using your PIN. There is also a fee to thaw your credit, typically about $10 per bureau. Paying that fee may allow you a one-time thaw or a thaw for a specified time period. Why doesnt everyone do this? Some people dont realize they have the option. Others have considered it, but they would rather not put up with a couple of factors. If you constantly open new credit accounts or if your credit history is checked frequently, it is irritating to pay a thaw fee again and again. Then theres the wait: thawing your credit usually takes a few days. It is important to recognize that a credit freeze will not keep everyone out of your credit history it is only as secret as your PIN. Not only that, businesses that have an existing relationship with you can still look inside your credit reports. A freeze is also not a remedy for ID theft if theft is already occurring in one of your credit accounts, a freeze wont stop it. A freeze must be requested before the crime is .mitted. Should YOU freeze your credit? The older you are, the more merit the idea may have. Credit freezes are also sometimes requested by divorcing couples when trust is in short supply between ex-spouses. You may want to freeze your credit whether you have been hit by ID theft or not it may end up saving you money and stress someday. About the Author: 相关的主题文章:


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