Everyone is worried about identity theft. In a few states anyone is allowed to put a Free on their credit. This means that no one can open a new credit account in your name (not even you). It also prevents the sale of your credit information. This would stop a lot of identity theft in its tracks! In order to remove the freeze you would need to contact the three credit bureaus. In other states including Illinois you can only freeze your credit if you are a victim of identity theft. For most people who are not applying for credit frequently this would be a great benefit and much more effective than the costly credit monitoring services that the credit bureaus sell.
Why is the benefit not available to all consumers? You guessed it: MONEY! The credit bureaus make a lot of money selling YOUR credit information to whoever wants to buy it. A credit freeze would prevent this from happening and cost them money. In weighing the costs and benefits there is clearly a great benefit to everyone if we could significantly reduce identity theft. However, the forces opposed to it are concentrated and have money to contribute to protect their interests even at the cost of the public at large.
If you would like to see the ability to freeze your credit report extended to everyone, contact your state representatives. To find yours click on this link http://www.elections.state.il.us/DistrictLocator/SelectSearchType.aspx. If we all put pressure on our representatives they will do the right thing.