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Remember: even if you’ve proactively frozen your credit reports, it’s important to regularly check for any suspicious activity every few months.
A credit freeze is an effective security tool, as it prevents unauthorized access to your credit reports. This means no one can open new financial accounts in your name without your permission.
However, as Rod Griffin, director of public education at Experian, shared with Kiplinger, a freeze doesn’t stop someone from making fraudulent charges on an existing account, which is unfortunately much more common.
Don't forget, you’re entitled to a free copy of your credit report from Equifax, Experian, and TransUnion once a year via annualcreditreport.com. You can request one report every four months to ensure your accounts remain secure.
If you spot fraudulent activity when reviewing your report (a credit freeze doesn’t block access to your report), you should alert the credit bureaus right away. Kiplinger advises visiting Experian.com, Equifax.com, and TransUnion.com to place a temporary fraud alert or dispute any incorrect information.
Credit freezes come at no cost, so while they can't stop all types of fraud, they are still an effective precaution, especially if you're not planning to apply for new credit soon.
