Another day, another data breach.
Thats exactly what hackers are hoping for.
That way, even if a hacker has all your information, they cant do anything with it.
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Are you struggling to cope with financial stress?
First, take a deep breath.
Then, take a look at our roundup ofresources to help you manage your stress and your money.
When Should You Freeze Your Credit?
Many people freeze their creditaftertheir identities have been stolen, which is fine.
He thinks of the tool as a preventive medicine.
Even if your Social Security number was in the hands of an identity thief, youd still be protected.
Employers current and potential will have limited access to your credit report, as will some government agencies.
Makes sense, right?
And no, freezing your credit wont negatively impact your credit score.
Can You Survive 10 Days of Budgeting?
If you oughta wrangle your budget, it may be time to consider a savings challenge.
(Victims of fraud were typically exempt from paying these costs.)
The law also allows you to unfreeze and refreeze your credit at any time, at no cost.
The freeze should be lifted within an hour, as required by federal law.
If youre looking to boost your income this month, weve got just the thing for you.
What Else Can You Do to Protect Your Credit?
This is a free service.
Three types of fraud alert are available: fraud alert, extended fraud alert and active-duty military alert.
While Equifax offers this service for free, Experian charges $24.99 per month after your free one-month trial.
TransUnion doesnt offer a free trial and instead charges $29.95 per month for credit locks.
(Youll also want to check to ensure no errors have found their way onto your report.
Here are some general guidelines for completing a credit freeze for someone else.
Your Child
Most minors under the age of 18 wont have any existing credit reports.
Unfortunately, that makes it that much easier for someone to fraudulently apply for a loan in their name.
One way to protect your child from identity fraud is to set up a security freeze on their behalf.
But millions of Americans overlookthese easy tipsthat could help them manage credit card debt even more wisely.
Read moreto boost your credit knowledge and keep your credit score in check.
Her work focuses on personal finance, real estate copywriting and lifestyle guides.
