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Do you feel powerless to fight identity theft and think it’s out of your control? The good news is that there are ways you can protect yourself. Learning your options in protecting your identity is the first step.
One of the newest weapons against ID theft is the ability to "freeze" your credit report. Many states, including Pennsylvania, now have laws that allow residents to freeze their credit reports - blocking access to your credit report by anyone. This means that your credit report and score cannot be accessed by anyone except you—including credit lenders, other companies, and most importantly identity thieves. Without access to your credit file, a thief cannot get credit issued in your name.
The benefit to this is obvious - it essentially becomes impenetrable armor to protect your identity. But the price of this peace of mind is perhaps some inconvenience to yourself that you will need to consider. Since your credit file is frozen, it will be locked if you yourself apply for credit, or a legitimate inquiry is attempted to be made to your credit report.
If you want to apply for new credit, you are provided a PIN number to unlock your credit file, but it takes a few business days to take effect. Having a Security Freeze may delay, interfere with, or prohibit timely approval of any request or application you make that involves access to your credit report. In addition, if changes have been made to your name or address while your file is frozen, the credit reporting agency will be unable to automatically update your file if it’s frozen. You will need to notify the agency directly to update your personal information.
If a bit of inconvenience is well worth it for you to ensure your identity is protected, this option may be for you. Pennsylvania is one of the states that provides consumers this important weapon to prevent identity theft. If you are an identity theft victim or over the age of 65, no fee applies to freeze your credit file. For all others, there is a nominal fee of $10 to place the “freeze” on your report. Your credit report and score will be locked for up to 7 years. Click here to download a PDF provided by the Consumers Union containing full details, instructions on how to place a security freeze, and frequently asked questions.
If you don’t want the hassle of freezing and unfreezing your credit report, there is another way for you to control access to your credit information. Harleysville National Bank offers our customers ID SafeChoice Plus™, a credit monitoring and fraud recovery service. For a small monthly fee, you will receive continuous monitoring of your credit and weekly alerts of suspicious activity. Should someone open new credit in your name or try to change your address on an account, you will be notified immediately. Assistance is provided from beginning to end should you become a victim of identity theft. Individual and family plans are available. To start your protection today, click here for rates and information.
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