Freeze my credit report to avoid identity theft?

Dear Terry,
Lately it seems that hackers can get into the computer systems of any merchant or financial institution at any time they want. I know that changing passwords is very important but for a person with a dozen bank accounts, credit cards, brokerage accounts, etc to change passwords once a month can be a lot of work. For people, are not looking to buy a house, car or a credit car in the next year or two does it make any sense to freeze your credit with the reporting agencies.
Thank you,
James Rynes

Terry Says:  Yes, it does make sense to freeze your credit, which will cost you a small amount if you haven’t already been a victim of identity theft.  But don’t make the mistake of think that solves all your problems. Freezing your credit just means they can’t open NEW credit in your name.  But you should check your existing bank and credit card accounts online twice a week, at least, to make sure no one is charging on your existing accounts!  Yes, you are protected against fraudulent use of those cards — but it could still be a hassle.