How do I stop people from opening credit cards in my name?

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Many people are concerned with the possibility of identity theft. However, a person has to know a lot of your personal information, such as your Social Security number and date of birth, to open a new credit card account in your name. Unfortunately, this means that neighbors or family members may be responsible when this occurs. If you are worried about the possibility that someone else may open a credit card in your name, there are steps you can take.

Request Credit Freeze

For a small fee, ranging from $3 to $10 per credit bureau, depending on your state, you can arrange for a credit freeze to be placed on your account. No person will be allowed to access your credit report or apply for new credit without your direct authorization. This authorization is given in the form of a PIN, which you have set up in advance. In the past, this type of freeze was only extended to victims of identity theft, but since 2007 it has been available to everyone in the United States.

Freezing your credit does not negatively affect your credit report and may save you many headaches if identity theft is prevented. A credit freeze is desirable if you do not plan on opening many new accounts. However, it can be expensive to repeatedly "thaw" your credit for new inquiries, so choose to freeze your credit wisely.

To freeze your credit, simply visit the websites of all three major credit bureaus--Equifax, Experian and TransUnion--and follow the instructions.