If you are a prime candidate for identity theft, freezing your credit report could be a very smart move.

Unless your report is frozen, you really have no control over who sees your personal data. It could be a credit card company planning to send you a solicitation, or it could be a merchant checking before he grants credit in your name to an identity thief.

By locking your credit report, you prevent anyone from using it to gain credit in your name, to rent a house using your name, or to pretend to be you when making a job application. The drawback is that if you want to use your credit yourself, you’ll need to thaw the report, at least temporarily.

To freeze your account you will need to make a request to TransUnion or Equifax in writing. You can request the freeze from Experian by mail or on line. Each will provide you with a PIN number to use when temporarily thawing or completely lifting the freeze.

Your Experian report can be thawed instantly on line, while the others may take a few days, so you need to plan ahead when you intend to use your credit.

Unless you’ve already become a victim of identity theft, you will be required to pay a $10 fee to each credit bureau each time you “freeze” or “thaw” your credit report.

Consumer advocates are now working to get that fee lowered and the thawing made easier, because a credit freeze is a valuable tool in preventing identity theft. They fear people will avoid using it if the cost is too high or if the freezing and thawing process is cumbersome.

Right now consumers have to think ahead – which could be a cost-saving tool in the long run. Those who are prone to impulse buying may change their minds about going further into debt if they need to wait 3 or 4 days for a retailer to see their credit report.

If you fear that someone has gained access to your identity you should strongly consider placing a freeze on your credit report. That could stop a thief cold when trying to use your identity.

In lieu of that, you can also place a “fraud alert” on your file. This alert doesn’t freeze your credit, but it sends up a red flag to new creditors and others who might check credit reports in the process of granting credit that the application they’re looking at may be fraudulent. Supposedly, it will make them screen any new application for credit more carefully.

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