Set-and-Forget Protections for Long-Term Peace of Mind

Responding to threats is important, but preventing them in the first place offers the best security. The good news is that some of the most powerful protections are things you can set up once and then benefit from for years. Think of these as building a strong digital fence around your financial life.

Lock Down Your Credit with a Credit Freeze

A credit freeze is the single most effective tool for preventing a scammer from opening a new credit card or loan in your name. When you freeze your credit, you are telling the three major credit bureaus (Equifax, Experian, and TransUnion) not to release your credit file to new lenders without your permission.

This means if a thief applies for a credit card with your stolen Social Security number, the application will be denied. It is free to place and lift a freeze. This is stronger than a fraud alert, which only asks lenders to take extra steps to verify your identity. A freeze stops them cold.

You can set this up online or by phone with each of the three bureaus.

Use a Password Manager and Multi-Factor Authentication (MFA)

It’s impossible to remember dozens of unique, complex passwords. A password manager is a highly secure digital vault that creates and stores these passwords for you. You only need to remember one master password to unlock the vault.

This stops criminals who steal a password from one website from using it to access your other accounts. Then, add multi-factor authentication (MFA) wherever it is offered, especially on your email and bank accounts. MFA, sometimes called two-factor authentication, is a second layer of security.

After you enter your password, it requires you to enter a one-time code sent to your phone. This proves it is really you, blocking anyone who only has your password.

Set Up Automatic Account Alerts

This is a simple but powerful feature offered by nearly every bank and credit card company. Log into your account online or call customer service and ask to set up transaction alerts.

You can request a text message or email every time a purchase is made over a certain amount, such as $1.00, or for any online transaction. This gives you a real-time notification system.

If you get an alert for a purchase you did not make, you can contact your bank immediately to shut down the card and stop further fraudulent charges.

Use Your Phone Carrier’s Scam Blocking Tools

Many scam calls no longer have to reach you. Major cellular providers like Verizon, AT&T, and T-Mobile offer free apps and services that can automatically identify, label, or block suspected spam and fraud calls.

Sometimes these are already active on your account, but it is worth calling your provider or checking their website to ensure you have enabled the strongest protection available. This can significantly reduce the number of dangerous calls that ring on your phone.

You can learn more about credit reports at AnnualCreditReport.com, the only official site for free reports. For general guidance on fraud, AARP provides excellent consumer education resources.