The primary function of a credit freeze is to stop any access to your credit report, and they can be a very valuable tool to help protect you from identity theft. However, while they might seem like an ideal (even easy) way to combat identity theft as a stand-alone defense, many people overlook several factors regarding their effectiveness and convenience.
First, your credit is accessed more often than you think. If you place a freeze on your credit report, then every time you sign up for utilities, activate new cell phone service, or apply for insurance, you would have to “unfreeze” your credit, which could take up to 48 hours. Then you have to go through the trouble of placing the freeze again after each transaction. It’s not exactly a convenient process.
Additionally, the risk of identity theft goes far beyond your credit – in fact, only about 21% of ID theft is credit-related. Thieves are finding new ways to exploit your information in unique and terrifying ways, like medical ID theft, employment fraud, utilities fraud, Social Security Fraud, and more. None of these types of fraud are credit related, and would therefore not be thwarted by a credit freeze.
That’s why Dave Ramsey recommends Zander ID Theft Solutions even if you place a freeze on your credit. Because Zander covers all types of identity theft, as well as acts of crime committed in your name, our plan is the most comprehensive in the industry. Not only does our program take over the work to make sure your identity is restored to its pre-theft status, it’s also the most affordable plan on the market. For these reasons and more, we’ve earned Dave’s trust and his business – our plan is the only one he uses for his family and his team!