Two years ago, my online identity was compromised; I have an eBay account, and someone hacked into it and bought $1,000 worth of electronics. Luckily I caught the theft the very next day, and eBay was wonderful and took care of the charges. However, that spooked me and my husband, so we decided to take the radical step of freezing our credit to protect our identity, in part because we plan to buy a home in the next few years and do not want anything to compromise our credit score.
Benefits of Freezing Your Credit
When you use a security freeze, you essentially lock down your credit. If your information is stolen and thieves try to open up an account, they will be thwarted. Ultimately, this is the best way to protect your identity. Credit monitoring may help you recognize theft has occurred, but a freeze keeps the theft from ever occurring.
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