Welcome to the latest episode of Unlocking Your Greatness with Wendy Bjork.
As an international bestselling author, nationally syndicated columnist, inspirational speaker and founder of heartsofwellness.com, it is my mission to empower women to build a strong Foundation of Wellbeing: One Whole-istic™ Step at a Time. To feel HOPE: harmony, options, peace and empowerment to help others along the way.
In an era when data breaches have become alarmingly common, protecting your identity is an essential task. Many consumers, sadly, have experienced the consequences of a data breach: unauthorized credit cards, fraudulent purchases, damaged credit scores that can take years to repair, and countless hours spent filing police reports, disputing charges, and trying to reclaim their financial identity.
To proactively prevent unauthorized applications for credit in your name, the best way is freeze your credit. Unlike the popular credit monitoring services, which are reactive in nature and come with a price tag, freezing your credit offers robust protection at no cost.
The process is easy: contact each of the three major credit bureaus, Equifax, Experian, and TransUnion, to initiate a credit freeze. Each agency will provide you with a PIN that you must use if you need to temporarily lift the freeze, such as when applying for a loan or new credit card or during a background check for employment or rental housing.
You can also sign up for a free credit monitoring service (or one provided by your bank) to monitor your credit, but be sure to freeze your credit first. It takes less than an hour to implement the freeze and, thanks to a recent law, there is no cost.
What is a Credit Freeze?
A freeze blocks access to your credit report by all creditors, meaning you won’t be able to open new accounts. However, there are some exceptions to this rule, including existing credit card issuers who maintain your account, debt collectors pursuing outstanding debts on behalf of you, and some government agencies investigating court-ordered judgments or tax-related matters.
If you are an active-duty military member who is deployed, a credit freeze may be especially helpful. It’s hard to keep an eye on your credit when you are away from home, and it can be tempting for thieves to exploit military personnel who are out of the loop. In fact, the Federal Trade Commission found that identity theft is more prevalent among deployed troops than in their non-deployed counterparts.
Regardless of your risk profile, a freeze is an excellent addition to other preventive measures, such as regularly checking your credit, reviewing bank and credit card statements for suspicious activity, and setting up credit alerts. Despite being inconvenient to those who need to apply for loans or new credit, the benefits of a freeze far outweigh the costs and hassles associated with lifting it. This is a critical step for anyone seeking to reclaim their financial identity after a breach, and it’s worth the effort to put in place now.
Leaving your credit unlocked is similar to leaving the front door of your home unlocked. Don’t wait for your private information to appear on the dark web, do this for yourself, your kids and elderly parents. It’s time to stop the hackers from living off of our money.
To support you on creating a path to your dream life, download your copy of the Hearts of Wellness 30-Day Journal + Blueprint Bundle Towards Living Your Best Life at heartsofwellness.com/you. It will support you in keeping your desired outcomes all in one place along with the Blueprint which will help you take small steps daily towards a better view of yourself. Benefit from improved self-talk, as well as writing your weekly gratitude list and celebrating your weekly wins. Discovering and living by your personalized playbook are important steps we can create together!
If you feel a self-paced approach with Wendy’s support would be helpful in reaching your goals, you can head over to the Hearts of Wellness Membership Collective and begin your journey back to simplicity, freedom and wholeness!
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