Freezing your credit is a good idea

Freezing your credit with the three major credit reporting companies is a great way to prevent others from applying for credit using  your identity.

Attorney Tom Olsen: Mike, you're on News 96.5. Go ahead.

Mike: Yes, Sir, I just was curious on freezing credit. What does it do? How does it affect your current credit cards?

Attorney Tom Olsen: It doesn't affect your current credit cards at all. It just means that when your credit is frozen with the three credit reporting agencies, nobody can get a new loan or credit card or mortgage or car loan without unfreezing the credit. When you freeze your credit they give you passwords to go in and unfreeze your credit. I've done it with success. It protects people from getting credit cards under your name, Mike.

Mike: Okay, thank you very much.

Attorney Tom Olsen: You're very welcome, thank you.