Freezing Your Credit Report

Because I'm so protective of my financial health, identity theft scares me like When a Stranger Calls (the original) scared me in elementary school. Identity theft comes with its own version of a horror movie, and the financially and emotionally draining aftermath can take years to clean up. While freezing your credit report isn't an option if you're currently applying for new credit or loans, it could be a good option for those of us who aren't planning on making any new credit moves any time soon.

Freezing your credit report means that you can't be considered for new credit until you've disabled the freeze. This isn't a solution that comes without its own hassles. You'll have to pay a small fee to place or lift a freeze, it takes a few days to get a freeze removed, and there's a PIN number you'll need to keep track of and will need to use whenever you lift a freeze. Do you think the peace of mind achieved from knowing a thief can't open new credit in your name is worth these hassles?

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