You may have been contemplating what to do to protect your child in light of the Equifax breach. You have options, but you definitely should consider doing something.
The goal is to protect your minor children’s credit for their future. The best way to accomplish this task depends on hard decisions you must make.
What I Did
My husband and I have a young daughter, and to protect her future, we knew that we needed to take steps to protect her credit. After the Equifax breach, we considered putting a freeze on her credit–but ultimately decided not to. My husband felt incredibly uncomfortable disclosing our daughter’s Social Security number directly to Equifax–or any other reporting agency for that matter. Since we already subscribe to Zander’s family plan, we simply added our daughter’s information to our plan. Zander is now monitoring her information with all three credit reporting agencies . . . and found nothing, thankfully!
Note: Call volume is ridiculous, so if you call Zander and the system offers you a return call, take it. I waited six hours for a return call this week. :O
You have several options:
- You can contact your identity theft protection/insurance company and have it monitor your child’s information. You will have to disclose your child’s Social Security number to that entity.
- You can place a freeze on your child’s credit. You will have to disclose your child’s Social Security number to three entities–one Equifax. You can find more about freezing your child’s credit at Clark Howard’s site here.
- You can place a fraud alert on your child’s credit. Get more info on placing a fraud alert on your child’s credit here. You will have to disclose your child’s Social Security number to that entity.
How Did You Do?
Which option did you choose and why? Let me hear from you in the comments!