How to Report Credit Card Fraud to the Credit Reporting Agencies

Credit card fraud can damage your credit score.

Report credit card fraud immediately to avoid negative changes in your credit score and subsequent higher interest rates and poor credit. The major credit reporting agencies are Equifax, Experian and TransUnion, and they all monitor and calculate credit slightly differently.

Difficulty:

Moderate

Instructions

1. Obtain your credit report from the major agencies from AnnualCreditReport (see Reference). It's free once per year from each bureau.

2. Examine the credit section against your credit card statements for any discrepancies. If there are credit card accounts you did not open or higher balances than shown on your credit card statements, you may have been the victim of fraud.

3. Submit a fraud alert to the agencies that show a discrepancy through their websites or on the phone (see References). You will not need to mail in documentation to place the alert as long as you have your Social Security number and can verify past addresses and other personal information, but you will need to send in a written request to remove the alert. A report with any of the three agencies automatically places a fraud alert on all three reports. This keeps anyone from opening another account in your name.

4. Submit a request to have incorrect information removed from your credit reports to avoid negative credit reporting. Each agency has its own online form to submit credit disputes, so follow the prompts on the website (see References). This will include personal information identifying you, the reason for the dispute, which can include you not opening an account or not making certain purchases, a brief written description, and a secure electronic signature that again calls for personal information.

References

• Annual Credit Report: Free Credit Report
• Experian: Credit Fraud Center
• Equifax: Submit Fraud Alert
• TransUnion: Fraud Alert