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Friday, December 12, 2014

1544. Preventing ID Theft

I've heard advertisements for services that protect my credit, like LifeLock, on the radio. Do I really need to pay for a service like that?

That''s an interesting and important question.  I am a fan of Clark Howard who has a radion and podcast that I listen to regularly.  And on his podcast he says you really don't need a service like LifeLock.

Instead you can set up a freeze on each of the three credit bureaus, TransUnion, Experian, and Equifax. This costs $10 in most states, that is $10 per person per credit bureau.

So it cost me $30 to put a credit freeze on my credit report.  That means no one can open a credit card in my name because they don't know the special pin number I set up to unlock the credit information.  Using this credit freeze makes services like LifeLock unnecessary and it will completely block anyone from making changes to your credit.

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