Kids can face identity theft, too, which is why checking a minor's credit report is very important. According to research, 915,000 American youths' identities were stolen in 2021 and 2022. Moreover, data breaches might have jeopardized one in 43 children's personal information, which is why banks give the option of freezing a minor's credit. Many experts say children without credit histories are easy prey as someone may easily establish a false account and incur debt in their name since there's nothing on it.

Should You Freeze Your Child's Credit?

Finance professionals advise parents to keep checking a minor's credit report to ensure safety. Although people under the age of 18 usually can't see their credit reports, freezing their credit reports will stop scams if you think your child can have onemaybe because they got credit card or bill requests in the mail.

It is preferred to consider freezing your child's credit if they are under 18 and still need to be old enough to apply for credit independently. Credit reports cannot be used to evaluate new loans or credit applications while a security freeze is in place.

Additionally, a credit freeze can stop credit applications from being processed until the child turns 18. This is true even if your child has a credit record or if it is valid (for example, if an adult gives the child permission to use a credit card).

How To Freeze Your Childs Credit?

Freezing a kid's credit is easy, but it might be a daunting task. After you are done checking a minor's credit report, you can always freeze it if your childs information or identity gets stolen or misused. In order to start the procedure of freezing a minor's credit, you first need to report it to the bureaus.

The big credit bureaus have somewhat different processes. Everyone wants proof of your identity and your child's identity. In the same way, several valid types of identification are also accepted, which will save you time and effort because the credit companies will sort through the papers. All the credit bureaus require the following, so before going to them, ensure to print copies of these:

• Birth certificates (yours and the child's, or legal document if foster parent/guardian)
• Social Security cards (yours and the child's)
• Government-issued ID
• Utility bill, bank statement, or insurance statement with your name and address

Requesting security freezes at all national credit bureausExperian, TransUnion, and Equifaxis necessary to freeze your child's credit report completely. The information required should be the same, even if each agency may have a different freeze-request procedure.

Creating a PIN or password is required to remove the freeze. The credit companies should let you know this in their answer. If you lose it, don't worryyour child's credit won't be shut down for good. Simply store it somewhere safe. They can unfreeze it without the right documents when they turn 18 if they prove their identity to the credit companies. Until the report owner asks for them to be deleted, security freezes are released on all three of your child's credit reports when they are ready to apply for credit independently.

Watch Out For These Warning Signs

By freezing a minor's credit, you can stop keeping an eye on the security theft. When someone tries to usurp your child's Social Security number, you should be on the lookout for warning signs like:

• Pre-approved credit card offers in the mail
• Denial of government benefits
• IRS notices
• Unpaid bill notifications

Some people become aware of it when they genuinely apply for credit for the first time and discover that items that were opened in their name have tainted their credit reportsomething they were completely unaware of.

Moreover, monitoring your child's credit report is the best way to remain ahead. Without wrongdoing, there shouldn't be a credit file. Visit the Annual Credit Report website every week to obtain free credit reports from Equifax, Experian, and TransUnion.

Ways to Protect Child From Identity Theft

Sometimes, freezing a minor's credit does not stop identity theft; in this case, people need to be aware of this and work on other things as well. Consider the following measures to keep your kids even safer:

Fix Incorrect Credit Report Entries

If your requests to freeze your child's credit reports reveal unreported accounts, credit applications, and other activity, handle them. Contact the creditors on the report to inform them your child was misled. You may report fraudulent activity to the police and file a dispute with the credit bureaus to have false records removed.

Safeguard Social Security Numbers

Secure Social Security numbers by storing cards in a safe deposit box. Save and share a child's Social Security number exclusively with trusted persons in emergencies. By safeguarding this private information, fraud, and identity theft are less likely to occur. For your own financial and personal safety, always use caution while handling and disclosing Social Security information.

Be Careful on Social Media

Tell your kids to include you in their social media networks so you can check suspicious friends and followers. Control who they share with and discourage them from sharing beyond their network. Tell them to avoid giving out too much personal information about their birthdays and to be wary of identity theft using school, pet, and close friend names in security questions.

Use Parent Contact Information

Children might be ready to give out private information without even realizing it. Consider linking registrations or subscriptions to your email address or phone number instead of the child's to help you spot any odd behavior. Consistently solid companies can have data breaches that let personal details slip.

Give Awareness on Identity Theft

Ensure that children are educated about identity theft and scams and that they are careful when answering suspicious emails, texts, or calls. Assure them that it's fine to end the call when an adult, no matter who they say they are, calls and asks for private information. Moreover, if something is suspicious, ask them to tell their parents so that they can proceed with the process of freezing a minor's credit.