It used to be that protecting your kid’s belongings just meant writing his or her name on the tags of their clothing before summer camp. Now you have to worry about thieves stealing your child’s ID before he or she is even old enough to realize it.
Think about it. We have no real reason to check our credit until we need it. By that time, thousands of children discover someone has been using their identity, tarnishing their clean credit records for years. I reported on this exact scenario earlier this summer.
While reading a magazine, I came across a blurb that suggested while you’re ordering your free annual credit report, you should also ask if there is a report for any of your children. If a report exists, take it as a sign that someone has applied for credit in your child’s name. You can request a “Minor Alert” from the reporting agency. The alert works like a freeze and can give you some time to close existing fraudulent accounts and correct iniformation.
If no report exists for your minor child, consider that good news.
(Source: July 2009/ Better Homes & Gardens)