Credit Freeze vs Credit Monitoring
RICHMOND, Va. (WWBT) - A lot of people keep a close on their credit by having a company watch for suspicious activity. That’s called credit monitoring, but is it better to just freeze your credit?
There’s so much information circulating out there about each of us. Some of it has been stolen from data breaches and is on the dark web. Other times we’ve given out our own information willingly.
It’s just more ways the bad guys have to reach out. Experts say credit monitoring is a great service. It alerts you if a new account is open, but James Lee the COO of the Identity Theft Resource Center says it should be one of many tools you employee. He says a credit freeze is something you should really consider.
“It’s still the best protection. The most bulletproof thing we have is a credit freeze because that’s the only thing that can stop a new account from being opened in your name,” said Lee.
He says credit monitoring has a place and you shouldn’t turn it down if it’s offered for free. He warns, it also gives you a false sense of security because credit monitoring doesn’t stop the crime from happening - it just lets you know to look.
Lee says a credit freeze keeps new accounts from being opened in your name.
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