How to freeze your credit -- and why you might want to

The experience of having your personal data compromised is so common it is just about normal these days. Nearly half (47%) of Americans experienced financial identity theft in 2020, with losses totaling $712.4 billion, according to a recent report by Aite Group, an independent research and advisory firm. 

If you're a victim of a data breach or you suspect your identity may have been stolen, you should consider freezing your credit. When you freeze your credit, it prevents criminals from accessing your credit report or opening new accounts in your name. 

While a credit freeze won't undo any criminal activity that's already taken place, it can protect you from further fraud. Here's what you need to know about credit freezes and how to set them up.

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