In a May 2015 blog posting we asked ourselves, "Should I freeze my kids' credit?" Conclusion: Yes, you should do this to prevent identity theft. In a 2012 study, some 10% of children's identities were stolen.
Today, leading security expert and journalist Brian Krebs posted information about which states have laws about credit freezing for minors at The Lowdown on Freezing Your Kid's Credit. Parents, you will want to spend five minutes reading the Krebs posting to determine what is allowed in your kids' state of residence.
Anyone with a social security number should consider freezing his or her credit with all three credit reporting bureaus. It is the single most effective defense against identity theft, and it is not a hassle to do a temporary lift of the freeze should you need it.
I've tested it, and the $9.00 or so that I spend to lift the freeze is the cheapest anti-identity theft insurance I can buy. It helps me sleep better at night too.
Who will protect your kids identities?
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