You can protect yourself from identity theft by using a credit bureau alert. The alert will stop you applying for credit accounts until the company verifies that you are who you say. This verification usually takes place by phone. It may also require that you state the date when the fraud alert was placed. The alert comes with certain benefits.
Alert for Active Duty
The service member can request a free credit bureau fraud warning to help them protect themselves from identity theft or fraud. It stops your name being listed on pre-approved cards for a year, and can be renewed for as long you serve. This service is available from TransUnion, Equifax, and Experian. You can also place a fraud alarm by mail or phone. You can request an extended alert to make your alert last for longer. This will prevent the name from appearing on pre-screened offers and keep it there for two years.
You must notify the other national credit reporting agencies once you have requested an alert. Active duty alerts require proof of identity. This may include your name, address, Social Security number, and Social Security number. Also, you should update your contact information prior to the alert expires. Your name will be retained on pre-screen marketing lists up to two years after expiry if you do not update your contact information.
Initial fraud alert
An initial fraud alert is a warning on your credit report that will prevent identity thieves from opening new accounts in your name. This alert stays on your credit file for 90 days, and some extend to a full year. If you suspect identity theft or have lost or stolen money, or if someone has phished you, this alert may be requested. You will receive a copy of your credit report free of charge from all four major consumer reporting agencies.
This alert is a sign that lenders are monitoring your credit application and will need to verify you identity. Oftentimes, these alerts can slow down the loan processing process. Credit monitoring may be a better option.
Dispute a fraud alert
It is your right and obligation to dispute any alert from the credit bureau. This can be done by writing to the agency sending the alert. The agency will then remove the incorrect information and send a notice to creditor companies who received the alert. Please include your name along with your telephone number when resolving the dispute.
A fraud alert informs creditors that someone may be trying to use you identity to make purchase. This does not preclude creditors from obtaining your credit file, or issuing credit cards. It is important to remember that a fraudulent alert is only temporary.
How to remove a fraud alert
It is easy to remove a credit bureau fraud warning. You can complete the process online, over the phone, or by mail. Within a few days, you will receive the alert. If you do NOT wish to remove the alert you can opt to let it expire. A fraud alert will automatically expire within one year of the initial alert or seven years for extended alerts.
Contact the credit bureaus directly if you want to remove your alert faster. For fraud alerts to be removed earlier, agencies may require that you provide proof of identity.