If you think you’ve been the victim of identity theft, you need to do more than lock or freeze your credit. Being locked out of your online accounts (email, mobile banking, social media, etc.).A sudden change in your credit score - especially a drop.Being denied for loans, credit cards, or mortgages.Sensitive documents or mail are missing (bills, tax documents, driver’s license, passport, etc.).Calls from debt collectors about purchases you didn’t make or loans you didn’t take out.
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( Pro tip: Use Aura’s free Dark Web scanner to check if your sensitive information has been compromised.) Finding your personal information online after a recent data breach.Hard inquiries on your credit file that you don’t recognize.Unfamiliar charges on your credit card or bank account statements.Instead, strongly consider a lock or freeze if you see any warning signs of identity theft or credit fraud, such as: However, it doesn’t always make sense to have a lock or freeze enabled - especially if you’re actively shopping around and applying for credit, such as a new credit card, auto loan, or mortgage. When Should You Lock or Freeze Your Credit?īoth credit locks and credit freezes can be used to proactively protect your credit from scammers. Try Aura’s top-rated identity theft protection free for 14 days and secure your identity (and finances) against fraud. ✅ Take action: If scammers get access to your financial information, they could take out loans in your name or empty your bank account. In this guide, we’ll cover the similarities and key differences between a credit lock and a credit freeze to help you pick the one that’s best for you. But while these terms sound the same, there are differences in how they work, what they cost - and ultimately, which one is right for you. Once enabled, these tools prevent anyone from accessing your credit file, which can stop criminals from opening new accounts or taking out loans in your name. Ī credit lock and a credit freeze are both great ways to protect your credit, personal finances, and identity from fraudsters. Last year alone, the Federal Trade Commission (FTC), received close to 700,000 reports of fraud related to new fraudulent bank accounts, credit cards, and loans.
One of the easiest ways scammers can target your finances is by using your stolen information to open new accounts or take out lines of credit and loans in your name. What’s Better? A Credit Lock or a Credit Freeze?
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