Adding a fraud alert to your credit reports is an extra step designed to prevent identity thieves from opening accounts in your name. Ideally, a potential creditor would call you when an application has been submitted to verify your identity and obtain permission to run the application. If the creditor is unable to contact you, the account would not be opened. Fraud alerts are not without fault; there is no law that creditors must obey them. Despite these weaknesses, fraud alerts remain a proactive step in protecting your credit.
Step 1
Request a fraud alert to be placed on each of your credit reports. You may file this request online for Equifax and Experian or by telephone or via email for TransUnion. Placing a fraud alert at one credit bureau is supposed to activate it at the other two, but occasionally the information does not cross over to the other networks. Place the alert at each bureau separately to be safe. Also, consider registering a cell phone number, if you have one, so you can be contacted anytime, anywhere.
Step 2
Follow up after 48 hours with each credit bureau to verify that the fraud alert was successfully implemented. You will also receive a letter in the mail confirming the alert was placed.
Step 3
Renew the fraud alert after 90 days. This type of alert is temporary and expires every three months. If you have been a victim of identity theft and filed a report with your local police department, you are eligible for an extended alert, which lasts for seven years.
Tips and Warnings
- Programs like LifeLock provide automatic fraud alert renewals on your behalf, eliminating the need for you to remember to do it yourself. Monitor your credit reports at least yearly through annualcreditreport.com for signs of identity theft.
- Fraud alerts may not work in all circumstances. It is up to the individual creditor to notify you when an application has been submitted.
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