How to Issue a Fraud Alert
A fraud alert is a designation that is placed into a credit report file that indicates there is a greater likelihood that someone will attempt to use the account fraudulently. Unlike a credit freeze, a fraud alert is temporary and usually only lasts for 90 days. Extended fraud alerts can be issued if there is documented proof of fraudulent activity. Once a person issues a fraud alert, it stops new credit cards and loans from being opened without contacting the person for permission.
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Instructions
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Contact one of the three main credit reporting agencies--Equifax, TransUnion and Experian--either by phone or by visiting their websites. See the Resources area for contact information.
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Determine whether you are eligible to issue an extended fraud alert or a standard fraud alert. To issue an extended alert, you must have a copy of a police report, which verifies actual fraudulent activity.
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Fill out a fraud alert form on the credit agency's website and provide it with your name, address and social security number. If you contact them via phone, you will simply tell the agency this information.
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Provide the agency with a phone number so that you can be contacted if someone tries to open a new account. This should be a number where you are always available--a cell phone number is wise to use.
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Watch for a letter delivered in the mail that provides written notification that a fraud alert has been placed on your file. Although the fraud alert usually takes 24 to 48 hours to go on your report, it can take one to two weeks to receive the letter.
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Wait 90 days and repeat the process if you feel your credit is still at risk. Standard fraud reports disappear from your file after 90 days and you must re-enter all of your information to place a new alert. Extended fraud alerts last for seven years.
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Tips & Warnings
New creditors do not have to heed the fraud alert on your credit report. However, they can be held legally liable for fraudulent charges if they ignore it.
When contacting the credit agencies by phone, most use an automated system to take your information.
Do not contact all three credit reporting agencies. Once you contact one, it will relay the information to the other two.
References
Resources
- Photo Credit three credit cards image by Aleksandr Ugorenkov from Fotolia.com
