Child Credit Freezes 101

MoneyTips

It may seem strange to you even to think of freezing your child's credit. Has your son or daughter gone on a credit binge at your local toy store or candy store? Why would your child even have credit in the first place?

Your child probably doesn't have credit, but he or she does have a Social Security Number (SSN) – which is a tempting target for identity thieves. The Identity Theft Resource Center (ITRC) reports that children are over fifty times more likely than adults are to have their identity stolen.

A child's SSN is a blank slate for thieves to use in creating a false identity. Since you are unlikely even to check for any credit in your child's name, the theft may go unnoticed for years, causing significant and long-lasting damage. This type of identity theft may not be discovered until your child prepares to leave for college or the working world, only to find that he or she can't qualify for financial aid, loans, or any form of credit.

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