In April 2024, a shocking breach occurred where cybercriminals managed to steal the data of nearly 2.9 billion individuals from National Public Data, exposing countless people to the serious risk of identity theft. This data breach means that hackers could use the stolen information to open credit accounts, amass debt, and leave innocent consumers to deal with the fallout. A massive class action suit is now underway against the National Public Data (also known as Jerico Pictures), however, there’s a strong, proactive measure that very few people know about that you can take to protect yourself: initiating a credit freeze.

What Is a Credit Freeze?

A credit freeze is one of the most effective tools you can use to prevent identity thieves from opening new accounts in your name. By freezing your credit, you effectively lock down your credit report, making it nearly impossible for fraudsters to obtain new credit lines under your identity. Creditors typically require access to your credit report before approving loans, credit cards, or other forms of credit, so this simple step can stop them in their tracks.

Even better, federal law mandates that credit freezes are free to all consumers in the US.

How to Place a Credit Freeze

To fully shield yourself from identity theft, you need to place a credit freeze with all three major credit bureaus: Equifax, Experian, and TransUnion. The process is straightforward and can be done either online or by phone:

• Equifax: Online Credit Freeze | Phone: 1-800-349-9960
• Experian: Online Credit Freeze | Phone: 1-888-397-3742
• TransUnion: Online Credit Freeze | Phone: 1-888-909-8872

Initiating a freeze usually involves setting up an account, verifying your identity, and confirming your request.

Credit Freeze vs. Credit Lock: Know the Difference

While both a credit freeze and a credit lock can restrict access to your credit report, they aren’t the same. Here’s why a credit freeze is the smarter choice:

• Credit Freezes: These are federally mandated, free for everyone, and offer robust protection regulated by law.
• Credit Locks: Often marketed as a similar service by credit bureaus, these typically come with a fee and lack the legal protections of a credit freeze.

A credit freeze provides comprehensive protection at no cost, making it a clear winner for consumers who want to safeguard their financial identity.

The Inconvenience of a Credit Freeze (and Why It’s Worth It)

The only minor inconvenience with a credit freeze is that you’ll need to temporarily lift it whenever you want to apply for new credit, such as when opening a new account or undergoing certain background checks. However, this process is quick and can be done online or over the phone, making the small effort worthwhile when considering the security it offers.

Take Action Today

With massive data breaches becoming alarmingly common, it’s never been more critical to protect your personal information. A credit freeze is a powerful, cost-free tool that can safeguard your credit and give you peace of mind. Don’t wait until it’s too late.

Protecting your credit now could save you from a financial nightmare in the future. It’s a proactive step that every consumer should take to ensure their financial well-being in this increasingly digital world.