Stolen Social Security Number? Freeze Your Credit ASAP.
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Key Takeaways
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Major data breaches remain common, affecting billions of people worldwide. Companies across every industry have all experienced breaches where personal data, including names, addresses, Social Security numbers, and financial information, was exposed.
You may have seen recent reports of the notable breach from National Public Data, an obscure company that helps process background checks. This breach is unique in that it is the largest public leak of Social Security numbers (SSNs). As the August 13, 2024 Los Angeles Times headline warned, “Hackers may have stolen the Social Security numbers of every American.”
Proactive Steps
While you shouldn’t live in fear, it’s wise to assume that your personal data may be accessible in some form. By taking proactive steps to protect your information, you can greatly reduce the risk of identity theft and other forms of misuse.
Here are four proactive steps to protect yourself:
1. Monitor Your Credit:
- Regularly check your credit report at www.annualcreditreport.com (and be sure to share your report with us at www.openwindowFS.com/share). Consider using credit monitoring services that alert you to suspicious activity.
2. Use Strong, Unique Passwords:
- Avoid using the same password across multiple sites. Use a password manager to create and store complex passwords, like LastPass.
3. Enable Two-Factor Authentication (2FA):
- Add an extra layer of security to your online accounts by enabling 2FA wherever possible. 2FA is a security process that requires two forms of verification to access an account, typically combining something you know (like a password) with something you have (like a code sent to your phone).
4. Most of all: Consider a Credit Freeze or Lock:
- As detailed below, freezing or locking your credit with all three credit bureaus prevents lenders from checking your credit report in order to open a new account.
Freezing your credit is quick and easy.
It takes less than 10-15 minutes.
Your credit/debit cards continue to work normally.
When applying for new credit, it's easy to unfreeze.
To Freeze or to Lock?
Both a credit lock and a credit freeze prevent unauthorized access to your credit report, but they differ in important ways.
Freeze: A credit freeze, also known as a "security freeze" is a legal measure that restricts access to your credit report by lenders and is governed by state laws to lock and unlock your credit. It is free and provides strong protection.
Lock: A credit lock, on the other hand, is a similar but more flexible service offered by credit bureaus, typically through their mobile apps or websites, allowing you to lock and unlock your credit report. While convenient, credit locks may not offer the same legal protections as a credit freeze and may not be free of charge, depending on the bureau.
Freezing Your Credit is Free
Freezing your credit is free. Locking your credit generally isn't free.
From what we've seen, each credit bureau will try to upsell you from a credit freeze to a credit lock, especially if you go to their main website. Consider reviewing their services, but keep in mind that a credit freeze is a legal right and generally more secure than a credit lock.
A Step-by-Step Guide to Freezing Your Credit:
To protect yourself against identity theft and unauthorized credit inquiries, you must freeze your credit with all three major credit bureaus —Equifax, Experian, and TransUnion—not just one. Some creditors may only check your credit with one bureau. If you only freeze your credit with one or two of the bureaus, a thief could still open accounts using the third, unfrozen bureau.
As you proceed, expect all three bureaus to require you to create a username and for you to provide your personal information (even though they already have it). Also, remember that if you have a freeze on your credit report, you will need to remove it before you apply for credit. So, keep track of your account information as we proceed.
If you think we can help, or you'd like to do this process together, reach out to us at (775) 827-0670 or schedule a 'Quick Connection' time with us at www.openwindowFS.com/connection.
1 of 3) Experian
- Visit Experian's website at https://www.experian.com/freeze/center.html
- If you don’t have an account, click on "Create a free account." You will need your cell phone and to provide personal information like your name, address, Social Security number, and birth date.
- Follow the prompts until you see the image below. For freezing your credit, a "Free Membership" is sufficient.
- "Create your free account." Once you have an account, log in with your credentials.
- Once logged in, click "Frozen" to freeze your credit.
- After freezing your credit, you should see the image below. Online requests typically take effect within one hour. You should also receive a confirmation email within 24 hours of your credit being frozen.
- Keep track of your account information, as you’ll need it to unfreeze your credit. Toggle the slider back to "Unfrozen" to unfreeze your credit.
2 of 3) Equifax
- Visit https://www.equifax.com/personal/credit-report-services/credit-freeze/
- Click on "PLACE A SECURITY FREEZE" button.
- If you don’t have an account, fill in the requested personal information. You’ll need to provide personal details like your name, Social Security number, birth date, and address. Otherwise, click on "Sign in here."
- Once logged in, click the grey "PLACE A FREEZE" button.
- Then scroll down to click the red "PLACE A FREEZE" to freeze your credit.
- After freezing your credit, you should see the image below. Online requests typically take effect within one hour. Don't expect to receive a confirmation email from Equifax (at least, we didn't receive an email).
- Keep your login information safe for when you need to unlock your credit. Return to the link above and click on the "MANAGE A FREEZE" button.
3 of 3) TransUnion
- Visit https://www.transunion.com/credit-freeze
- Click on the "Add A Freeze" button.
- If you don’t have an account, fill in the requested personal information. You’ll need to provide personal details like your name, Social Security number, birth date, and address. Otherwise, click on "Login."
- Consider selecting "No" to opt out of "helpful tips & news about my service from TransUnion and trusted partners!"
- Once you're all set, click the blue "CONTINUE" button.
- Once logged in, click the "Credit Freeze" box.
- Click "ADD FREEZE" (and then the "CONTINUE" button, not shown below).
- After freezing your credit, you should see the image below.
- Continue clicking through until you see the image below. Online requests typically take effect within one hour. Expect to receive a confirmation email within 24 hours from TransUnion.
- Keep your login information safe for when you need to unlock your credit. Return to the link above and click on "REMOVE FREEZE" or the "TEMPORARILY LIFT FREEZE" button.
Extra Credit
Freezing your credit with the three main credit bureaus—Experian, Equifax, and TransUnion—is a powerful, and protective step.
Still, common risks remain. These include medical identity theft and the fraudulent opening of bank accounts, utility accounts, and telecommunications accounts.
While not as well known as Experian, Equifax, and TransUnion, there exist smaller, nationwide reporting agencies that collect specialized, non-traditional credit information and personal data. These include banking data, rental history, utility payments, or insurance claims. Consider pursuing more comprehensive protection by freezing your credit beyond the three main credit bureaus. Freezing your credit with these smaller companies can further reduce the risk of identity theft across a broader spectrum of risks, including unauthorized access when the creditor doesn’t use the three major credit bureaus. By extending your credit freeze beyond the major bureaus, you provide a more comprehensive shield against various forms of identity theft and fraud.
Consider freezing your credit with:
ChexSystems:
ChexSystems is a reporting agency that tracks your banking history, particularly your checking account history related to account closures and bounced checks. Freezing your report at ChexSystems can help prevent someone from opening a fraudulent bank account in your name and writing bad checks.
When placing a freeze at ChexSystems, you will be assigned a security PIN. Keep your PIN secure and accessible. The PIN will be required to perform specific actions with regard to your security freeze.
Go to: https://www.chexsystems.com/security-freeze/place-freeze
Innovis:
Innovis is a consumer reporting agency that lenders may use for credit checks.
When placing a freeze at Innovis, you will be assigned a 10-digit Security Freeze PIN by mail. Keep your PIN secure and accessible. The PIN will be required to perform specific actions with regard to your security freeze.
Go to: https://www.innovis.com/personal/securityFreeze
NCTUE (National Consumer Telecom & Utilities Exchange):
NCTUE is a credit reporting agency that primarily collects and shares information for utility services like phone, cable, internet, electricity, and gas. While NCTUE also maintains health-related records, NCTUE's data is often used by utility companies to assess risk when a customer applies for new services. For example, a company may use NCTUE reports to determine whether to require a security deposit.
Go to: https://www.exchangeservicecenter.com/Freeze/#/
Unfreezing:
Remember that if you need to apply for credit or loans, you'll need to unlock your credit report temporarily. The process is similar to freezing it, and you can usually do it instantly through the credit bureau's website.
Online requests to the three major credit bureaus must be honored within one hour. Requests sent by mail must be honored within three business days.
Access while frozen:
Your credit report can still be accessed even though you've placed a freeze, but only in certain situations that are allowed by federal law.
A freeze won’t stop someone from checking your credit in these common scenarios and a few others:
- Insurance Companies: Insurers can access your credit report when underwriting or setting your insurance rates.
- Employers or Landlords: With your permission, potential employers or landlords can access your credit report, even if it is frozen.
- Government Agencies: Certain government agencies can access your credit report for reasons such as a court order, subpoena, or search warrant.
- Existing Creditors and Debt Collectors: Companies you already have a credit relationship with can access your report to review your account, adjust your credit, or collect on a debt.
- Credit Monitoring Services: If you have a credit monitoring service, they can still access your credit report to notify you of changes.
Monitoring:
Even with frozen or locked credit, it's a good idea to monitor your credit reports regularly for any suspicious activity. Consider using credit monitoring services that alert you to suspicious activity, such as LifeLock.
You can monitor your credit report by visiting www.annualcreditreport.com and obtaining your credit report from any one of the three major credit bureaus—Experian, Equifax, and TransUnion. You don't need to unfreeze or unlock your credit to obtain your free credit report.
Make sure to share your report with us to help monitor your credit history, check for inaccuracies, and detect potential signs of identity theft. Review is a crucial step in maintaining financial health and ensuring that credit information is accurate and up to date.
Protect Your Child's Credit
Freezing your credit is important, but don't forget to protect your children as well. While we often associate credit files with adults, minors can also have credit files that thieves may exploit.
Children typically don’t have a credit file unless they’ve been added as an authorized user on a parent’s account, co-signed a loan, or have fallen victim to identity theft. Credit files are usually created when someone opens their first credit account, like a credit card or loan. However, if a child’s Social Security number is used fraudulently, a credit report could be generated in their name, leading to potential financial issues down the road.
Next Steps
We all play a role in keeping each other safe online. Consider taking these steps to help protect yourself online, and don't forget to share these tips with friends and family to help them stay safe.
For more information, consider visiting www.usa.gov/credit-freeze or see our Insight articles on:
If you think we can help, reach out to us at (775) 827-0670 or schedule a 'Quick Connection' time with us at www.openwindowFS.com/connection.