I'm not waiting until someone steals my Social Security number. So I froze my credit files now.

By Brett Arends

After yet another massive online data breach, I don't know if anyone has stolen my Social Security number yet - but I figure it's only a matter of time

I went online Monday and froze my three credit files so no one can steal my money.

It was surprisingly quick and easy. In total, it took me about 10 minutes on the internet and a quick phone call.

(And I'm generally skeptical when personal-finance types say that something is quick and easy - because in the field of personal finance, very few things are.)

I went to two of the three credit agencies, TransUnion (TRU) and Equifax (EFX), and followed the prompts to freeze my credit accounts. In both cases, I had to create an account and confirm my identity.

I sidestepped the various offers to try to get me to pay for credit-monitoring services. All I wanted to do was freeze my credit file, and that is completely free for everyone.

At TransUnion I also had to uncheck the sneaky little box that tried to get me to sign up for "helpful tips and news about my service, including special offers from TransUnion and trusted partners." So tacky.

The third credit agency, Experian (UK:EXPN) (EXPGY), wouldn't let me freeze my file easily online. They wanted me to fill out a PDF, and upload copies of my passport or driver's license and a recent utility bill. But it offered a phone number - 1-888-397-3742 - open during extended office hours, and this was a breeze. A handful of voice prompts, and my third file was frozen.

Freezing my credit files means that even if someone steals all my personal details, they still shouldn't be able to borrow any money in my name. No iPhone, no credit card, no car loan, no rental agreement. When anyone tries to take out a new loan or sign up for a new card, the bank or lender automatically checks your credit with the three agencies.

And those files are now locked.

I froze my credit files after news broke last week of yet another massive online data breach. This one supposedly involved 2.9 billion records.

Oh, and it happened in April - but we only just found out.

These breaches happen so often now that they are no longer big news. In the past 10 years we've seen major breaches at Yahoo (APO), Adobe (ADBE), Target (TGT), JPMorgan Chase (JPM), Home Depot (HD), eBay (EBAY), Equifax itself, Marriott International (MAR), Facebook (META), Zynga (TTWO), Capital One (COF) and many others.

I don't know if anyone has stolen my Social Security number yet, but I figure it's only a matter of time. When it comes to hackers and identity theft, I'm reminded of what Margaret Thatcher famously said about terrorists: They only have to succeed once. Those of us trying to defend ourselves have to succeed every time.

I know some sources tell me to just keep a close tab on my credit files and monitor my credit reports regularly. As if I don't have enough to do. As usual, most personal-finance advice is written by "Type A" types who are absolutely baffled to discover that some of us aren't Type A. Maybe I can monitor my credit files every morning at 5 a.m., while I am also learning Finnish and doing burpees.

Anyway, as the Public Interest Research Group says, "your best protection against someone opening new credit accounts in your name is the security freeze (also known as the credit freeze), not the often-offered, underachieving credit monitoring."

It's actually weird that our credit files are ordinarily open and we have to take steps to freeze them, not the other way around. There again, American business is run for the benefit of the businesses, not the consumers. We're cannon fodder.

The downside to this is that I can't open another credit card without first contacting all three agencies and unfreezing my files. So there's also an upside.

-Brett Arends

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08-28-24 1452ET

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