How To Freeze Your Credit And Why
How To Freeze Your Credit And Why
Most of us are aware that the Nigerian Prince's requests for our private data are fraudulent. However, we are more likely to fall victim to some innocuous-looking email or text message that we click so easily. Scammers come up with more sophisticated techniques daily. According to the Federal Bureau of Investigation's Internet Crime Report, there were almost 800,000 reports to the Internet Crime Complaint Center in 2020 amounting to approximately $4.2 billion in losses.
The Email Bait
Have you seen one of these subject lines? 
1) "Your benefits account has been suspended." The government seal or state agency logo adorns the top of the email. To unlock your account, you need to CLICK HERE to verify your information (and allow the scammer into your computer). Don't click! Instead, use your trusted benefits login to see if the agency really does need any additional information.
2) "Your Amazon item has been shipped." What did you order? You feel tempted to click that link if you don't remember. Instead, be sure to log in to your Amazon account to check the order and shipping status.
3) "Final Closing Disclosure" Attached is a zip file with your closing statement and the new payoff letter (and some spyware software). If you are expecting anything from your mortgage or title company, contact your trusted broker or loan officer.
4) "Vmail received" Click to listen to your voice message. The lure of an unheard voicemail is bait for an innocent victim. If did not set up a voicemail with a service, this is a scam. Even if you did set up a voicemail service, do not click through your email or text message. Use the link or app you set up previously.
The above email subjects are just a small sample of the types of messages getting through spam filters. So even though the sender may look legitimate, we must be cautious and stay vigilant when opening unexpected emails or text messages. If you happen to fall for one of these requests for information, NortonLifeLock, a global leader in consumer Cyber Safety, recommends changing your passwords, update your computer software, and notify the credit agencies.
Be Proactive
If you don't anticipate applying for credit soon (no plans to buy a house or car in the next couple of months), take the proactive step and place a security freeze with the four major credit reporting bureaus. At Hurlow Wealth Management Group, we recommend placing security freezes on credit through Equifax, Experian, TransUnion, and Innovis.
A credit freeze or security freeze is a free tool that lets you restrict access to your credit report, which in turn makes it more difficult for identity thieves to open new accounts in your name. That’s because most creditors need to see your credit report before they approve a new account. If they can’t see your report, they may not extend the credit.
Each credit reporting site has a unique way of placing a security freeze. The website may try to steer you into purchasing something; you do not have to purchase a security freeze. Also note that a fraud alert is not the same as a security freeze. So stay focused and find the free security freeze!
Remember, you will need to “thaw” your credit file if you wish to take out a new loan or do anything else that involves checking your credit. When you are ready to apply, ask the lender which credit reporting bureau will be utilized to pull credit information. You only need thaw your file at that bureau.
Print off an complete the tables below. Then store the document in a secure location or copy values to a password manager such as Dashlane or LastPass. Remember, if you are married, both spouses will need to complete the security freezes.
Equifax
Website: my.equifax.com
Automated Call to Place Security Freeze: (800) 525-6285 | Customer Service: (888) 298-0045
| Name | |
| Email address | |
| Password | |
| Security Question | |
| Answer to Security Question |
Experian
Website: experian.com/ncaconline/freeze
Automated Call to Place Security Freeze: (888) 397-3742
You will be given the option to create your own pin number or have Experian generate a pin number for you. We recommend allowing Experian to generate a pin for you for additional security.
| Name | |
| Email address | |
| Password | |
| Security Question | |
| Answer to Security Question | |
| PIN |
TransUnion
Website: transunion.com/credit-freeze
Customer Service: (800) 916-8800
| Name | |
| Email address | |
| Password | |
| Security Question | |
| Answer to Security Question | |
| PIN |
Innovis
Website: innovis.com/personal/securityFreeze
Customer Service: (800) 540-2505
*** Note: Innovis will send your PIN via U.S. Mail.
| Name | |
| PIN |
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