How to Place a Fraud Alert on Your Credit File

   

If you believe you're the victim of identity theft or could be (if, say, your wallet was recently stolen, you were the victim of a phishing scam, or your tax return was lost in the mail), you should place a fraud alert on your credit file. Doing so could prevent an identity thief from opening new credit in your name.

Once a fraud alert is attached to your credit report, whenever anyone tries to open a new credit card account, get a loan or receive new cell phone service in your name, the lender will need to contact you by phone to confirm that the person seeking to obtain credit is really you. If you can't be reached by phone, credit shouldn't be extended.

If you choose an initial alert, it remains in force for 90 days. Once you place an initial fraud alert on your credit report, you're entitled to one free credit report from each of the three credit reporting bureaus. After 90 days, you can reactivate the fraud alert.

If you've already been victimized by identity theft, you can opt for an extended fraud alert, which stays on your credit report for seven years. An extended fraud alert entitles you to two free credit reports within 12 months from each credit bureau.

To place a fraud alert, contact one credit reporting bureau ⎯ TransUnion (800-680-7289), Equifax (800-525-6285) and Experian (888-397-3742) ⎯ and provide proof of identity, which may include your Social Security number, name and address. You may be coached through the process by an automated voice response system. The credit bureau you contact will, in turn, notify the others, but you may wish to contact all three yourself for added peace of mind.

Credit fraud alerts aren't foolproof; some creditors may ignore the alert. That's why it's critical to check the accuracy of your credit report carefully. If you are really concerned, consider a credit freeze, which, despite some inconveniences, offers even greater protection.

Remember, if you anticipate applying for any kind of credit or loan in the near future, a credit fraud alert may delay approval until the lender can reach you by phone. For this reason, it's a good idea to supply your cell phone number when you place the credit report fraud alert so you can be reached quickly.

Download the How to Place a Fraud Alert on Your Credit File