🚀 Our new App is live!  Signup

Advertiser Disclosure

Advertiser Disclosure

Although we put in a lot of effort to give our readers unbiased information, and we include many credit card offers on our website for which we do not get paid any compensation, we are legally required to notify you that we may be receiving compensation from some of the credit card companies mentioned on our website.

Some of the credit card offers which appear on helpmebuildcredit.com are from credit card companies from which this site possibly receives compensation. This compensation may impact how and where credit card offers appear on this site. This site possibly does not include all available credit card offers.

 

Close

Fraud Alert- Everything You May Want To Know

- Jun 12, 2022 Identity Theft3 comments

Identity theft is on the rise, as ugly as it is.

It is important for every consumer to be armed with the proper information so that if you are ever, g-d forbid, a victim of identity theft, you know just what to do.

In the past, we posted about credit freezes as one solution. In this post, we’ll talk about fraud alerts as another idea. At the end of the post, I will let you know my opinion about which action I think is the best way to go.

What is a fraud alert?

When someone falls victim to identity theft or fraud, (or if someone thinks they may have fallen victim to identity theft or fraud), they can place a fraud alert on their credit reports. After you place a fraud alert, lenders will receive a message when they pull your credit which will state something like the following: ID SECURITY ALERT: Fraudulent applications may be submitted in my name or my identity may have been used without my consent to fraudulently obtain goods or services. Do not extend credit without first verifying the identity of the applicant.

Banks will take extra verification steps before extending credit or approving you for a credit card. Verification steps may include the bank calling to ask you security questions, asking for additional documents that proves your identity, etc.

How do I place a fraud alert?

You can place a fraud alert by contacting any of the three credit bureaus online or by phone.

Experian

Online: https://www.experian.com/fraud/center.html

Phone: 1888-397-3742

Transunion

Online: https://www.transunion.com/fraud-victim-resource/place-fraud-alert

Phone: 1800-680-7289

Equifax

Online: https://www.equifax.com/personal/education/identity-theft/fraud-alert-security-freeze-credit-lock/

Phone: 1800-685-1111

You only need to contact one of the three credit bureaus. The credit bureau you contact will send a message to the other two credit bureaus to place the fraud alert as well.

How much does a fraud alert cost?

Fraud alerts are always free.

How long does a fraud alert last for?

There are three types of fraud alerts you can place:

  1. Initial Alert

Since September of 2018, initial alerts expire after 12 months (not 90 days). You also receive an extra free copy of your credit report.

  1. Extended Fraud Alert

An extended fraud alert will last up to seven years. You may need to file a complaint with the FDC in order to place an extended fraud alert. You may also need to file a police report.

With an extended fraud alert, you will receive two extra free copies of your credit report for the first 12 months after placing the alert.

  1. Active Duty Military Alert

This alert is for US servicemen and women and expires after 12 months. Once it expires, you can renew it as necessary.

How do I remove a fraud alert?

If you feel that the fraud alert is no longer needed or if you placed it by mistake, you can have it removed by mailing a request of removal to all three credit bureaus. Make sure to include identifying documents and follow the steps found on the credit bureaus website.

Conclusion

Even though a fraud alert sounds easier to place, you only need to contact one credit bureau, I still wouldn’t recommend it over a credit freeze. The reason being that it’s much harder to remove than a credit freeze. There are many reports on the internet of people getting declined on credit cards just because they had a fraud alert. Credit card issuers like to have their systems run smoothly and they don’t want to deal with extra headaches. With a fraud alert, you’re locking thieves out, but at the same time, you’re also locking yourself out. On the other hand, with a credit freeze, you have more control of when you want it locked and when you want it open.

Was this article helpful?

avatar_logo
Sam Sam has nearly a decade's worth of experience educating his many readers on everything credit. Sam spends his days checking out credit cards for a full report, from the minute benefit details to the shebang of welcome bonuses. Plus studying the ins and outs of building proper credit. It’s his favorite pastime and he loves sharing it with others.

Leave A Comments

This site uses Akismet to reduce spam. Learn how your comment data is processed.

3 Comments

  1. The Equifax phone number is wrong. The fake Equifax people will try to charge you. The customer care number is 1 (888) 548-7878.

    Reply
    • The number i provided is for the Equifax fraud department. I believe it is a correct number. Thanks

      Reply
  2. I would like to add that when you do not now have an insurance policy or else you do not remain in any group insurance, you could possibly well really benefit from seeking assistance from a health insurance agent. Self-employed or individuals with medical conditions typically seek the help of an health insurance dealer. Thanks for your text.

    Reply

Recent Posts

Follow us

Click here to subscribe to
our WhatsApp channel

Today's
best offers

Capital One Venture X Business

Earn 150,000 miles after spending $30,000 within the first 3 months.

more info

Ink Business Preferred Credit Card

Earn 100,000 points after spending $8,000 within the first 3 months.

more info

The Platinum Card from American Express

Earn 80,000 points after spending $8,000 within the first 6 months (terms apply).

more info

American Express Business Gold Card

Earn 130,000 points after spending $10,000 within the first 3 months (terms apply).

more info

You May Also Like

Name On Card, What Does It Mean?

Name On Card, What Does It Mean?

Have you ever wondered why you need to fill out the name on a card when shopping online or what it means? Here is everything you need to know about the name on card. When you are ready to check out, the online vendor will ask you to enter your credit card information...

read more
Stuck With A Credit Freeze? How To Unlock Without A Pin

Stuck With A Credit Freeze? How To Unlock Without A Pin

Identity theft is increasing rapidly year after year. That is why, in the last few years, more and more consumers have been starting to take action, such as freezing their credit reports. Placing a security freeze on your credit report makes it very difficult for...

read more
Freezing Credit- Everything You Need To Know

Freezing Credit- Everything You Need To Know

In May 2018, congress signed the Economic Growth, Regulatory Relief, and Consumer Protection Act. Thanks to the ACT you can now freeze and unfreeze your credit report for free, nationwide. But because something is free doesn’t mean you should do it. In this...

read more
Ransomware! How To Keep Your Business Protected

Ransomware! How To Keep Your Business Protected

Ransomware attacks are happening at a speed of approximately 4,000 attacks a day, according to justice.gov. That’s no shortage of evil. Ransomware is when attackers gain access to files or software on your computer, they take the files and lock it from you, giving...

read more
ExtraCredit By Credit.com – Full Review

ExtraCredit By Credit.com – Full Review

Their tagline is “Credit is complicated. ExtraCredit is not”. So true. I’m sure you’re ready to hear what ExtraCredit is all about! ExtraCredit is an online software slash website that gives you access to monitor your credit score and credit...

read more
The Lie About $1M Identity Theft Insurance

The Lie About $1M Identity Theft Insurance

An ad for a $1,00,000 identity theft insurance is something that rings well. Add some scary background music, and that makes it even better. And with all the new competition popping up you can assume that it sells well too.  But you might be surprised to find out that...

read more
success_icon

Download link sent
succesfully

Got it * please check your promotional inbox
fail_icon

Error sending download link

Try Again