Want to Freeze Your Credit After a National Public Data Breach? Here’s how

I thought about freezing my credit for weeks before I did it. As a personal finance author who covers identity theft, I know it can happen Making it harder for cybercriminals Opening a new credit account in my name — but that would be difficult for me.

When you freeze your credit, you must manually freeze or “melt” it whenever you want to apply for a new credit card, car loan or mortgage.

The process of freezing your credit is not a simple one. This includes registering for individual accounts Three major US credit bureausEquifax, TransUnion and Experian and freeze your credit manually online or by phone or mail.

But there are two advantages that sold me on it. First, freezing your credit is completely free. Second, there’s peace of mind knowing you’ve neutralized a key tool in the identity thieves’ playbook.

Why did I freeze my credit reports?

Data breaches happen more often than you think. Also, your data may have been compromised at least once. This year alone, the Ticketmaster and AT&T data breaches affected millions of customers. An alleged hack at background search firm National Public Data may have also compromised the personal data of 2.9 billion people, according to a new lawsuit.

Recently, I’ve noticed an increase in the amount of scam messages I’ve received on my phone and in my email inbox. Most were easy enough to sniff out, but some were well researched.

I have received various messages asking if I have ribs and offering me new job opportunities. The barrage of messages, phone calls, and emails made me think that at any moment — distracted or in a rush to get back to my desk for my next meeting — I could fall victim to a scam that could lead to identity theft.

Freezing my credit is one of the best ways to protect your data and money — but it’s not foolproof. Fraudsters and identity thieves can access my personal information through existing accounts. However, I can minimize the damage.

Read More: 5 Your personal data is on the dark web — what you can do about it

How I Freeze My Credit With TransUnion, Equifax, and Experian

When freezing your credit, you must do so with each of the three major credit bureaus. That required setting up accounts on each — a process that took about 30 minutes online. In general, you’ll be asked for the same information: your name, date of birth, and the last four digits of your Social Security number. You must complete two-factor authentication via text or email.

TransUnion and Equifax have dedicated tabs on your dashboard to freeze your credit after you create an account. A few clicks and I’m all set.

Experian makes this option a bit harder to find. After a few clicks, I found a couple of ways to enable Free Security Disable.

Hover over and click on “Credit” on your dashboard Experian Credit Lock — Experian’s payment offer works similar to a credit freeze, but locks your credit report immediately, among other features. On that page, you see a free “Disable Security” option.

When you’re signed in, scroll down to the bottom of the page and click on Experian Credit Lock to return to the same page. All three credit bureaus will confirm your credit freeze by email.

If you don’t want to set up online accounts, you can call each credit bureau to freeze your credit. Here are the numbers for each:

• TransUnion – 800-916-8800
• Equifax – (888) 298-0045
• Experian – 888-397-3742

Each bureau must freeze your credit within one business day after you request a credit freeze. When you need to freeze your credit, Experian, TransUnion and Equifax should freeze your credit within an hour. By mail, it can take up to three business days to freeze and freeze your credit.

Freezing your credit won’t solve all of your identity theft concerns

Setting up a credit freeze is very simple. But I’m not going to say that your credit freeze will be comfortable. Here are some drawbacks to consider:

You must freeze your credit each time you open a new account

If you’re considering applying for a new credit card, looking for your first home, or getting a new car loan, it’s a good idea to wait until after opening an account before you freeze your credit.

Freezing your credit prevents cybercriminals or identity thieves from opening new credit accounts in your name. But it also stops you. To open a new credit account, you must sign in to your accounts or contact each of the three credit bureaus to temporarily freeze your credit.

A false sense of security

Freezing your credit is a good step toward protecting your identity, but it can still be stolen.

You may consider signing up for an identity theft protection service. Individual plans typically start at $7 to $15, depending on the amount of funding and identity tracking you want. With an identity theft protection program, you can monitor your credit, bank accounts, and the dark web for your or your family’s personally identifiable data, or PII.

Alternatively, you can take advantage of free tools at your disposal. Review your monthly credit card and bank statements. View your medical claim history online and your credit report. You can download your free credit report AnnualCreditReport.com.

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It does not stop spam messages

Unfortunately, if fraudsters have your phone number or email, you won’t be able to stop them from trying to siphon money from your accounts.

It is best to block phone numbers and email addresses from unauthorized senders every time you receive a strange message. Also, take some time to read messages carefully before clicking on a link.

This does not put an end to new loan offers

Freezing your credit will not remove spam mail and reserved offers you receive. Credit freezes are meant to prevent hard inquiries on your credit, such as lease applications or student loan applications. You can still expect offers from credit card companies, insurance carriers, and more.

Financial institutions and debt collectors with whom you already have a relationship can also check your credit. In special circumstances, the federal, state and local government may also do so.

Credit monitoring companies like Credit Karma and Credit Sesame can give you your latest credit score.

You still need good password hygiene

Even if your credit is frozen, you should still practice good password hygiene. Make sure you don’t use the same login information on multiple sites — using the same login is a common tactic of cybercriminals.

If keeping track of your passwords is overwhelming, consider paying for a password manager.

It does not protect your bank account information

Even if it freezes your credit, it’s your responsibility to protect your bank account information from fraudsters.

If you accidentally provide any account numbers or login information to cybercriminals, contact your bank immediately and change your password.

In the end, I’m glad my credit stopped

There are pros and cons to freezing your debt. But with no plans to open a new account anytime soon, it was worth it to me. I also feel safe after doing that. It’s nice to know that I’ve thrown a wrench in any cybercriminal scheme.

Of course, the spam messages will keep coming. But I’m good at being the gatekeeper of my financial accounts. I am in the habit of checking my bank and credit card statements regularly.