Why you should consider freezing your credit reports
Someone recently applied for 10 credit cards in my name and opened two wireless phone accounts.
Removing the fraudulent activity off of my credit reports took hours: I had to make several phone calls, send paperwork and fill out a police report.
It also blocks you from opening new lines of credit, so if you plan to take out a mortgage or apply for a new credit card you'll need to remember to unfreeze it each time.
The freeze won't affect any credit cards or loans you had before the freeze was placed; those creditors will still be able to see your reports.
Even if identity theft hasn't struck, you still should seriously consider it, since data breaches have become so common.
[...] in 2015, there have been 766 data breaches at banks, government agencies and big companies, exposing more than 178 million records, according to the nonprofit Identity Theft Resource Center.
A breach of government records, for example, exposed Social Security numbers of about 26 million federal employees and their spouses.
Fees are typically between $3 and $10 to freeze each credit report, and you may pay another fee to unfreeze.
Credit monitoring services, which you have to pay a monthly fee for, alerts you if a new account is opened or other suspicious activity takes place.
A credit freeze is the only way to stop criminals from opening new accounts in your name.
If you're applying for a mortgage or auto loan or credit card.
When you ask to freeze your credit reports you'll get a number that you will need to save.
Thieves can still use your existing credit or debit cards to make fraudulent charges, so you will still need to check your statements every month.