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Q: Are Credit Freezes Useful in Preventing ID Theft?

2018 September 27

A credit freeze can definitely be a valuable measure to take to help reduce your risk of credit-related ID theft.  It can be a very effective way to stop any access to your credit report.  Most people though don’t realize how often there credit report is accessed for various situations.  When applying for insurance, utilities, cell phone services, property rentals, your credit reports or score is typically accessed which would be frozen for these purposes.  You would have to unfreeze your report if trying to get a cell phone and then freeze it again after acquiring the service you were trying to get.  Most states have set fees for freezing and thawing which can get expensive if you have these situations come up frequently.  Also, remember that only 50% of ID Theft is credit related so Credit Freezes only address part of the problem.  If credit is ever issued without checking your report or other types of ID Theft occurs such as Social Security Fraud, Medical ID Theft, Employment, Utility or IRS Fraud, etc., none of these are credit-related and they would not be protected by a freeze.

That’s why Dave recommends our ID Theft plan even if using a credit freeze.   Since we cover all types of ID Theft, including Social Security Fraud, Medical ID Theft, Employment, Benefit and Family Fraud (the only plan to do so) as well as criminal acts committed in your name our plan is much more expansive in it’s protection that any other plans on the market.  We take over all the work to restore your identity to pre-theft status and have had a 100% success rate…and are less expensive.   Our $1 Million reimbursement benefit covers unauthorized/stolen funds from bank accounts and provides compensation to our members if they incur expenses while we restore your identity.  These are often very limited but may include lost pay or vacation time (if you have to go to court to testify), Legal fees, Notary or Fed-Ex charges, Long Distance phone bills, etc.  Overall we offer a much more expansive protection plan which is why Dave recommends it to his listeners and has purchased it for his family and all of his team members.

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