I’m a Victim of Identity Theft. Here’s How to Avoid Becoming One.
I learned the hard way about the devastating impact of identity theft. Back in 2022, thieves stole my wallet, gained access to personal information, and used it to open fraudulent accounts and even steal a Tesla. Despite being tech-savvy, with secure passwords and two-factor authentication, I still became a victim. The criminals were serial identity thieves who knew how to exploit vulnerabilities.
Now, after months of effort and countless phone calls, I want to share a simple yet powerful tip that could have prevented it all: a credit freeze.
How a Credit Freeze Works
Freezing your credit prevents anyone from opening new lines of credit in your name. If I’d done this, I would have avoided hours of frustration and the headache of undoing the damage caused by identity theft. Thankfully, I was never held responsible for any fraudulent charges, but the process of resolving everything was stressful and time-consuming.
The Benefits of a Credit Freeze
The best part? Freezing your credit is free. The only downside is that you have to temporarily unfreeze it when you apply for a new credit card or need to finance a purchase. However, this is a quick and easy process.
I took action the night I received the first letters notifying me of unapproved accounts opened in my name. It took me less than 15 minutes to set up accounts and lock down my credit with all three major credit bureaus. Unfreezing my credit, if needed, takes me less than five minutes. If you’ve recently applied for a credit card, it’s best to wait until you’re approved before freezing your credit.
How to Freeze Your Credit
The primary credit bureaus are Equifax, Experian, and TransUnion. Here’s what you need to do:
- Create accounts with each bureau, using unique passwords. If you already have accounts, ensure your password is secure.
- Choose the option to freeze your credit.
Avoid any paid services or memberships; the basic credit freeze offered is free. You don’t need credit monitoring or enhanced locking services.
I keep my credit frozen and recommend you do the same. When you need to open a new account or apply for a loan, you can temporarily unfreeze your credit through the bureaus’ websites. If you prefer a mobile option, TransUnion and Experian offer apps for this purpose.
For extra security, consider freezing your account with ChexSystems, the bureau that oversees most checking accounts. My own thieves opened checking accounts with Bank of America and Wells Fargo, actions they couldn’t have taken if I’d frozen that account as well.
Additional Steps to Prevent Identity Theft
Beyond a credit freeze, consider these precautions:
- Promptly retrieve your mail. Thieves often steal mail containing checks, credit cards, and other sensitive documents. This is precisely what happened to me.
- Opt out of prescreened credit card and insurance offers. Visit optoutprescreen.com to stop receiving these potentially risky offers.
- Don’t carry your Social Security card in your wallet. Keep it secure at home.
- Using two-factor authentication for all of your online accounts is a smart idea.
- Never share your bank password or verification codes. Your bank will never ask for that information.
- Sign up for mobile alerts from your bank so you’re notified quickly if someone tries to open an account in your name.
- Regularly check your credit reports for unauthorized activity.
A credit freeze is a simple, cost-free method that adds a vital layer of protection. Take the time to implement this strategy—it could save you considerable time, money, and stress in the long run.
