I’ve been noticing an increasing number of security breach notifications in my mailbox. Between these notices, news stories, and watching my husband’s employer navigate a recent cyber attack on their business software, I can tell you—the threat is real. And just last month, I read that billions of Social Security numbers were exposed—yes, BILLIONS.
Many clients have asked for my thoughts on how to protect themselves in these situations, so today, that’s exactly what I want to discuss with you.
While I don’t specialize in identity protection, I can share what my husband and I do to safeguard ours. We assume that our information is already “out there.” We’ve faced situations where someone applied for unemployment benefits in my name, opened credit card accounts in my husband’s name, and even changed his mailing address. So, we know our info is available for criminals to exploit.
Here are a few steps you can take to protect yourself:
Freeze Your Credit
- Freezing your credit is one of the most effective ways to prevent criminals from taking out loans or opening credit cards in your name. When your credit is frozen, lenders cannot access your credit report, which stops them from approving new credit lines. This adds a significant layer of protection.
- It’s a proactive measure that also protects you from yourself! It helps keep you out of unnecessary debt—no new accounts mean no new temptations! 😉😉😉
- The process is straightforward. You can freeze your credit with each of the three major credit bureaus—TransUnion, Equifax, and Experian—online or over the phone. If you need to apply for credit in the future, you can temporarily lift the freeze or “thaw” your credit reports with a secure PIN or password, either for a specific period or for a specific creditor. Your credit can automatically refreeze on the date you set, keeping your protection in place.
- Consider freezing your children’s credit as well. Children’s identities are especially attractive to thieves since their credit is usually clean and unmonitored. Freezing their credit can protect them from having their identities stolen before they even have a chance to build their own financial histories. To do this, contact each of the three major credit bureaus directly, provide proof of your identity and theirs (such as a birth certificate and Social Security card), and request the freeze. It’s an extra step, but one that’s well worth the peace of mind.
Check Your Credit Report
- Regularly monitoring your credit report is crucial for catching any unauthorized activity early. Currently, you can check your credit reports for free weekly with each of the three major credit bureaus—TransUnion, Equifax, and Experian. Access your reports at AnnualCreditReport.com. We check ours 1-2 times a year, but you may want to do it more frequently, especially if you suspect your information might have been compromised.
- Reviewing your credit report helps you spot unfamiliar accounts, incorrect personal information, or other signs of fraud. If you find anything suspicious, you can take steps to address it before it becomes a bigger problem. Consider setting up alerts with the credit bureaus to be notified of any significant changes to your report
Opt-Out of Promotional Emails
- While checking your credit, it’s a good idea to opt out of promotional offers from credit card companies and other lenders. These offers can be a gateway for identity thieves, who may intercept them and open accounts in your name without your knowledge.
- Opting out reduces your risk and helps declutter your mailbox—both physically and digitally. You can do this through the credit bureaus’ websites or by visiting OptOutPrescreen.com, which is the official site for stopping pre-approved credit and insurance offers. This simple step can give you peace of mind by reducing the number of opportunities criminals have to misuse your information.
Take Action
I encourage you to take a moment today to check your credit reports and freeze your credit with all three credit bureaus. Also, mark your calendar to check your credit a few times each year. It’s a simple step that can make a big difference in protecting your identity.
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Protecting your finances is just one of the many topics we cover in financial coaching. If you’re ready to take control of your finances once and for all, let’s chat. I’m accepting two new clients in September. You can schedule a no-cost, no-obligation call HERE. Hope to connect with you soon!
