8/27/2023 0 Comments Equifax freeze vs lockCredit bureaus have been required to offer free credit freezes by federal law since 2018.Ī credit freeze can also block your own attempts to apply for credit. For example, if you have a credit freeze placed on your credit file, a stranger shouldn’t be able to open a new credit card in your name if getting approved for it requires access to that report.Ĭredit freezes have no impact on your credit score, are regulated by the federal government, and are free to place and remove. companies in 2020 - these are all potential opportunities for someone to access and use your personal information and make you the next victim of identity theft.įortunately, we have tools like credit freezes and credit locks to help you understand how to protect against identity theft.Ī credit freeze blocks access to your credit report, which can help prevent new accounts from being opened in your name. If you look at the number of data breaches that happen each year at different companies - this number was over 1,000 for U.S. Identity theft happens, and likely more frequently than you may have thought. In addition, 20% of respondents had accidentally given personal information over the phone to a scammer. Why it’s important to protect your identityĪccording to a recent FinanceBuzz survey that looked at online identity theft statistics, 60% of respondents have had a fraudulent charge on a credit card or debit card. Other options for protecting your identity.Why it’s important to protect your identity.
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