In the past month, my personal information somehow slipped through the cracks, only to end up on the dark web, accessible to strangers. If you’ve been lucky enough to dodge identity theft so far, you might not realize the real nightmare it can cause, especially if those strangers start applying for credit in your name. Unfortunately, that’s exactly what happened to me. Eighteen days ago, people I’ve never met used my information to apply for six credit cards at five different financial institutions.
Why My Credit Is Safe for Now – The Importance of a Credit Freeze
Thankfully, the credit freeze I set up on my credit file kept the applications from going through, and none of the new credit cards were approved. If you haven’t frozen your credit file yet, take my word for it: you want to do this as soon as possible. If I hadn’t taken that step in advance, I would now be dealing with a lineup of fraudulent credit cards – and the consequences that come with them.
The whole experience, though, has been eye-opening when it comes to dealing with financial institutions. While some companies acted immediately and responsibly, others brushed off the issue as though it had nothing to do with them. A couple of them even suggested that I was somehow to blame for this! So, if nothing else, this incident has shown me which companies I would trust with my business and which ones I will avoid in the future.
Steps to Protect Your Credit
If you’re serious about protecting your financial identity, here are a few key steps you can take today, all of which are free and require only a few minutes of your time:
- Freeze Your Credit Files:
Contact each of the three major credit reporting agencies to place a security freeze on your file. This prevents anyone from accessing your credit information without your permission, making it difficult for fraudsters to open accounts in your name. - Check Your Credit Reports Regularly:
You can get free weekly online credit reports from Equifax, Experian, and TransUnion through AnnualCreditReport.com. These reports give you insights into any recent activities on your accounts and help you catch any suspicious behavior before it gets out of hand. - If You Suspect You Are a Victim of Fraud: Place a fraud alert on each of your credit bureau files. This ensures that the institutions know that you have been affected and they are required to take extra security steps whenever a credit or checking account application comes through with your personal information.
If you think identity theft could never happen to you, think again. I had all my precautions in place, and it still happened. So don’t let complacency put your finances at risk.
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