Article Directory :: Finance & Investment Articles How to Evade Identity Theft With Credit Freeze Copyright © 2012 Liz Roberts Republish: EasyPublish™ Published: 05Feb2009 Word count: 440 Viewed: 298 time(s) Get Free Content For Your Site To avoid identity theft, the best way is to put your credit report on a freeze. How does credit freeze work and why should you consider it? What is Credit Freeze? You may already be aware that lenders check a person's credit report before approving an application. Nevertheless, other companies which you did not send application to can also inquire about your credit report to send you offers. Unfortunately, identity thieves can also disguise themselves as a lending company or a merchant to inquire about your report. Since your credit report contains valuable information about you, thieves can easily steal that information and use it commit fraud against you. Availing of a credit freeze can protect you from such unauthorized inquiries. How? When you put your report on a freeze, no one- not even you, will be able to access it. If you plan to apply for a credit card or a loan, you can contact the credit bureaus to "unfreeze" your credit report so that your credit card company can check on it. Take note that it can take 3 to 7 days for a credit bureau to unfreeze your report after you've given your go signal. Thus, unfreezing a credit report needs to be at least a week in advance to make sure that it will not cause any delay in the approval of your application. Credit Freeze Procedures How much does it cost to obtain a credit freeze? Credit Bureaus usually charge $10 for a credit freeze but the cost may vary depending on the State you live in. Credit bureaus work independently so you'll need to pay $10 to each bureau to avail of this service. Lifting or unfreezing your credit report will also cost you an additional charge, per bureau. And if you want to put your credit report back on freeze, that would be another payment. As long as your credit report is on freeze, no one can open an account in your name without your permission. Even if identity thieves steal your personal information, they would not be able to use it to apply for credit. This is because your credit report will never be opened until you request the credit bureaus to lift the freeze. Should you avail of credit freeze? Because of the costs involved, some people are hesitant to try it. However, considering the protection you can get by freezing your report, many experts would agree that it's worth the expense. Should you invest your money on a credit freeze? Surely, it would be a wise move considering the high risks of identity theft and fraud in the United States. Copyright 2009 New Horizon Business Services, Inc NHBS, Inc has been providing consumers and business owners with financing since 1989. Join our mailing list for Free Tips on Rebuilding and Repairing Credit. Click here for trusted Credit Cards For Canadians EasyPublish™ this article - publishers click here More articles by Liz Roberts

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