[throwaway76543]

You could just do nothing. That's what I'm doing. I care very little if someone defrauds some bank using my identity to open credit cards. I won't be paying for it. It's the bank's problem, not mine. I'm under no obligation to expend effort to maintain their security and datasets.

The more you let this kind of thing be pushed into your lap, the more it will be.

[bdcravens]

That works as long as you don't need your credit for anything. This isn't limited to opening new lines of credit. Credit cards can be closed or have limits changed based on credit score. In most states, your car insurance rate can be based on your credit score; most policies renew every 6 months. In the event of a judgment against you for delinquent credit cards, your bank accounts can be levied.

You're correct that this isn't your problem, and eventually you'll get your money back. You're wrong with idea that you can be passive and not get screwed.

[emodendroket]

Yeah, but you can be vigilant and still get screwed.

[5874-4b22-a4e0]

But arn't you more likely to be screwed, and have to request an investigation in the case of id theft, if you do nothing?

Freezing credit also may lead to people less likely to open up lines of credit as well. I got a credit card request for temp unfreeze, and I've never gotten around to it.

[emodendroket]

It could help, but there are still various forms of identity theft you're vulnerable to: https://www.forbes.com/sites/nickclements/2017/09/13/3-reaso...

[bdcravens]

This article supports freezing: "A credit freeze is a helpful way to reduce the risk of having new credit accounts opened in your name." The article isn't against freezing; only says that you shouldn't stop there.

It's all a matter of reducing attack vectors. I can put a firewall on my network, but that doesn't mean I don't also need smart passwords.

[emodendroket]

Sure. It just starts to feel like it's pointless when no matter what you do the protection is so inadequate. Medical identity theft is among the most nightmarish to deal with because the identity thief's records are protected by HIPAA so it is difficult to even figure out what you're being charged for.

[danShumway]

I can be vigilant and get blindsided at an intersection, but I still look both ways before I cross the street.

[throwaway76543]

On the contrary, it works even better if you regularly use your credit report because you don't have to deal with the absolute pain in the ass of freezing and unfreezing it constantly. Time is money and that's a guaranteed loss of both.

The kind of identity theft involving use of a credit report (as opposed to a stolen bank instrument) is relatively rare. Most identity theft involves a stolen credit card and freezing one's credit report offers no benefit in that scenario.

I am absolutely not wrong, the vast majority of people take a passive approach and are fine.

I don't know why you're talking about "getting your money back," this kind of fraud doesn't involve any loss of money from anyone other than a bank. There is no way at all that I can put my own money at risk by not freezing my credit. No one is talking about totally ignoring fraud and allowing a default judgement to occur -- I am talking about not paying upfront fees to micromanage access to pull credit.

It does not matter very much at all.

[bdcravens]

> I don't know why you're talking about "getting your money back," this kind of fraud doesn't involve any loss of money from anyone other than a bank.

Not correct. If someone opens a credit card (or anything else at that bank) in your name, and rings up a large balance, you can be sued and levied. It doesn't have to be the same bank; they can and will find your legit accounts in an effort to recover funds. I'm speaking from experience; the actual lawsuit was filed by a law firm that specializes in that type of collection. The protection you get from illegitimate accounts isn't automatic; you'll still have a degree of burden, depending on where you catch things.

[throwaway76543]

As I said above "No one is talking about totally ignoring fraud and allowing a default judgement to occur"

You are discussing something entirely different, unrelated to the point I made above.

[rpedela]

Your credit score can be ruined by this and then when you need credit, such as a home or car loan, you are screwed. If you are lucky to be independently wealthy where you can pay for everything with cash, then no problem. But very few of us are in that situation.

[throwaway76543]

Just file disputes, it'll get removed. Disputes are free and with a police report in hand they will go through.

I'm suggesting you should not pay upfront to help curate this data, to pay to micromanage access to a credit report to protect other lenders.

[rpedela]

Why? You really want to spend all your time fighting someone who gets a hold of your information? It is not a one or two times thing. Go talk to people who had their identities stolen. It is not fun and it can take years to fix everything. I know one person who is still having trouble after 15 years.

[throwaway76543]

The vast majority of people will spend less time as this is a rare occurrence.

Freezing a credit report is not going to prevent someone from getting ahold of your information. It will prevent someone who already has your information from running your credit and opening new lines of credit -- which doesn't matter much. It is completely ineffective for the vast majority (90%+) of identity theft.

It will not protect you from someone stealing your cards or checks.

[rpedela]

identity theft != credit card theft

Yes, credit card theft is not a big deal and you don't really need any protection because the CC companies are pretty pro-active about it. That is not what we are talking about. Yes, real identity theft is rare but it does happen. With a few simple steps, you can protect yourself better in the rare case that it does. Can you completely protect yourself? No, but some protection is better than none.

[throwaway76543]

On the contrary, credit card theft is one of the most common forms of identity theft.

As I said above, it is far, far less time and expense to follow up to actual fraud with a police report than it is to freeze-unfreeze your credit every time you want to pass a credit check.