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Cybersecurity - Credit Report

Identity thieves want to use your credit to open credit accounts, steal bank accounts, and many other damaging things.

Credit Report Considerations:

  • Place a credit freeze on your credit files at all three reporting agencies: Equifax, Experian, and TransUnion.   When possible, place freezes on your minor children's credit files.  The Federal Trade Commission has a site to answer questions and lead you to the bureaus to activate credit freezes. 
  • Run credit reports and review inaccuracies.    Work with the credit bureaus to remove false information. 
  • When you apply for credit, do a "temporary lift" of the credit freeze for specific days, and then the freeze will automatically be reactivated.  
  • Some people feel more confident using services, like LifeLock, that combines credit monitoring, identity theft protection and tools to secure your identity.   However, the main tool that protects you is the credit freeze, discussed above. 
  • Identity theft insurance might be helpful, but often identity theft doesn’t subject you to financial loss.   Rather, the currency it ultimately attacks is your time and patience.   You will spend considerable time cleaning up the fraud.   That is why prevention is the most effective tool.   To learn more about identity theft insurance, consider this article from NerdWallet.