Think Twice Before Paying for Credit Protection
Security expert Bruce Schneier takes a look at services like LifeLock—you know, the one where the CEO gives out his social security number in the advertisements—and states that while the companies don't deserve the bad rep they've gotten in the press, they also provide a base service that most people could get for free, with planning and persistence:
You can put a fraud alert on your own (credit bureau) account, but you have to remember to renew it every three months. You can also put a credit freeze on your account, which is more work for the average consumer but more effective if you're a privacy wonk — and the rules differ by state.
Schneier notes that LifeLock does a few other things to fight against false borrowing and credit marks, but at $120/year, it's not worth it to him. How do you prevent credit fraud without shelling out, or how much would you pay to be free from worrying about it? Let's hear about it in the comments. Photo by Kiên Phạm.
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