Earlier this month Forbes.com post an article on “The Pros and Cons of Freezing Your Credit”. The following is a summary of the article.

Credit freezes have become an essential tool for consumers looking to protect themselves from identity theft. Freezing your credit prevents lenders from accessing your credit report, making it harder for fraudsters to open accounts in your name.

Pros:

Identity Protection: Prevents unauthorized access.
Free and Easy: Federal law mandates that credit freezes be free, and they don’t impact your credit score.

Cons:

Inconvenience: If you’re applying for a loan or credit, you’ll need to temporarily lift the freeze.
Limited Scope: It doesn’t prevent fraud on existing accounts.

Freezing your credit is a solid defense against identity theft, but understanding the limitations is key. Consider your personal financial situation before making a decision.

While I would agree that the freezing process is inconvenient, however, this inconvenience far outweighs the inconvenience of having to challenge fraudulent credit or loans taken out under your identity.