Fraud Alert FAQ
A criminal obtaining credit in your name can be a true nightmare. By stealing and using your personal information a thief can open new credit cards, get loans or even buy a house. If you suspect any of your personal information has been lost or stolen, one of the first steps you should take is to place a fraud alert on your credit file.
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Protection From Fraud
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A fraud alert makes it more difficult for someone to get credit in your name. An alert means certain procedures are to be followed by potential credit lenders to ensure that you are the one requesting the credit. Unfortunately a fraud alert can also delay your ability to legitimately get credit.
Requesting a Fraud Alert
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A fraud alert can be requested by contacting just one of the three nationwide credit bureaus: Equifax, Experian or Transunion. Placing a fraud alert with one of them will automatically place one with the other two.
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Cost of a Fraud Alert
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A fraud alert is absolutely free of charge. There is no cost you for placing it on your file, and no cost to later have it lifted.
Initial Fraud Alert
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An initial fraud alert will last for 90 days from the day you place it. You can place an initial fraud alert on your file with just a phone call to one of the credit bureaus. You do not actually need to be victim of identity theft to place an initial fraud alert on your file.
Extended Fraud Alert
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An extended fraud alert will stay on your file for seven years. You do need to be a victim of identity theft to place an extended fraud alert on your file. To place an extended fraud alert you must submit a copy of your police report detailing the ID theft to one of the credit bureaus.
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