Why you should freeze your credit

Trust is hard to build. It takes time. It takes doing what you said you were going to do, over and over again.

And once it’s gone??? Good luck getting it back.

That’s what makes financial fraud so frustrating.

Most scams are not pulled off by some criminal mastermind in a dark basement hammering away at a keyboard like it’s Mission Impossible. It’s usually much simpler than that.

Someone gets your trust. Then they get your money.

Sure, scammers have better tools now. Emails look cleaner. Texts feel more believable. Phone calls sound more convincing. AI has made it easier for bad actors to sound legit.

But the real weapon is still the same as it’s always been.

Trust.

That’s what gets people.

And if trust is the front door, the goal is simple. Make that door harder to open.

This month, I want to talk about one of the easiest and most underused ways to protect yourself from financial fraud.

Freeze your credit.

It’s free. It’s simple. And for most people, it should already be done.

Freeze Your Credit. Seriously.

 A credit freeze is one of the best fraud prevention tools most people have never used.

Here’s what it does. It blocks someone from opening new credit in your name.

That means if a scammer gets your Social Security number and tries to open a credit card, take out a loan, or do something shady in your name, they hit a wall.

That wall is your credit freeze.

Best part? It costs nothing. It does not hurt your credit score. And you can lift it anytime you need to.

Think of it like locking your front door. Does it guarantee nobody can break in? No. But it makes it a whole lot harder for the wrong person to walk right through it.

That alone makes it worth doing.

How to Freeze Your Credit

This sounds more complicated than it is. I promise, it’s not. You’ll need about 20 minutes and a cup of coffee.

Step 1: Gather Your Information

Before you start, have this ready:

• Full name

• Date of birth

• Social Security number

• Current address

• Previous address, if you moved in the last two years

• Phone number

• Email address

Step 2: Contact the Three Credit Bureaus

You need to place a freeze with each credit bureau separately.

That means all three. Make sure to do it at all three.

Experian

Freeze your credit: Experian Freeze Center

Website: www.experian.com/freeze

Phone: (888) 397-3742

Equifax

Freeze your credit: Equifax Freeze Center

Website: www.equifax.com/personal/credit-report-services/credit-freeze

Phone: (888) 298-0045

TransUnion

Freeze your credit: TransUnion Freeze Center

Website: www.transunion.com/credit-freeze

Phone: (800) 916-8800

I’d recommend doing it online. It’s faster and usually less painful than sitting on hold, but either way works.

Step 3: Place the Freeze

Each bureau will walk you through the process. You’ll need to create an account and answer a few identity verification questions.

One quick heads up. The credit bureaus may try to steer you toward a paid monitoring or premium subscription along the way. You don't need to sign up. Freezing your credit is completely free. You do not need to sign up for a subscription, and you will not need to enter a credit card to place a freeze.

Step 4: Save Your Login Information

Once the freeze is in place, save your usernames, passwords, and PINs somewhere secure. Write them down. Store them safely. Tell your spouse where they are.

You’ll need them later if you ever want to temporarily lift the freeze.

Step 5: Lift the Freeze When Needed

If you apply for a mortgage, car loan, or new credit card down the road, you can temporarily lift the freeze.

You can lift it for a specific lender or for a short window of time, then lock it right back down when you’re done.

And let’s be honest. How often are you actually applying for new credit?

If the answer is, “I can't remember when I last applied for credit,” then freeze it.

Final Thought

If this resonated with you, and if you are jumping online to freeze your credit, or you have already been proactive and froze your credit, please help me out.

Send this to your spouse. Send it to your parents. Send it to your kids. Send it to the one family member who still clicks every suspicious email and thinks “you’ve won a free iPad” feels legitimate.

Financial fraud has become far too common. There is no perfect defense. But there are smart habits. And freezing your credit is one of the easiest smart habits out there.

It costs nothing. It takes less than half an hour. And it makes life much harder for the people trying to take advantage of yours.

So remember my dad’s line. Trust takes a lifetime to build, but a second to lose.

Move a little slower. Double check before clicking. Pause before sharing information. And make people earn your trust before they get access to anything important.

That goes for life.

And it goes for your money.

Normally, This Is Where I’d Tell You What I’ve Been Reading Lately….

But honestly, this topic is too important.

If Something Feels Off, Start Here

Report Identity Theft

Website: www.IdentityTheft.gov

This is the federal government’s step-by-step recovery site for identity theft. It walks you through exactly what to do next.

Report a Scam or Fraud Attempt

Website: www.ReportFraud.ftc.gov

Use this if someone tries something shady, even if they did not get you. Reporting fraud helps flag patterns and protect other people too. We're all in this together!   

Check Your Credit Reports

Website: www.AnnualCreditReport.com

Review all three credit reports for anything you do not recognize. Review your credit report regularly to ensure everything is status quo. You can also get free credit reports from each of the three bureaus listed above.

That wraps up the May edition of the Financial Planning Corner. I hope you found it helpful!

One quick ask. I’d love your feedback. If there’s a topic you’d like me to cover, or a question you’ve been turning over in your own planning, shoot me a note and let me know. And if any of the strategies above connect to your personal situation and you want to go deeper, I’m always happy to talk it through.

Yours in Planning,

Pat Kalish, CFP®