Released: November 15, 2007

A way to freeze out ID thieves

Source: Michelle Singletary, Washington Post (Free Registration)

Just as the holiday shopping rush begins, all three of the major credit bureaus have decided to provide a powerful tool to protect against identity theft.

Within the last month, Equifax, Experian and TransUnion began offering consumers nationwide the option of freezing their credit reports. A security freeze is far preferable to a “fraud alert,” the step people are typically advised to take when they are victims of identity theft or think their information has been compromised.

A fraud alert simply tells potential lenders that they need to take extra care and certain actions before granting credit. The alert doesn’t block access to your files, so it’s not foolproof.

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