Why I Froze My Credit Report
Rampant identity theft makes me so uneasy that I froze my credit report last year. I did it online, at each of the three credit bureau sites (Equifax, Experian, TransUnion), and it wasn’t hard. With a frozen report, no one can apply for a new credit card or line of credit in my name.
Which, by the way, includes me! Recently, I wanted to change the name on my business American Express cards. Amex turned me down because it couldn’t access my credit history. In just three minutes, at Experian online, I lifted the freeze for 24 hours, paying a $5 fee (fees vary state by state). Amex checked me out, issued the card, and the freeze went back on.
I’m not protected from crooks who get the number of one of my existing credit cards, but at least I’ve taken one positive step. For more on freezing credit accounts, check my Dimespring column here.