Placing a Fraud Alert – Some Important Things to Know

Fraud alert is a useful tool to protect you from credit misuse or identity theft. By placing a fraud alert, you will be informed in case someone illegitimately tries to open a new credit account using your name and credit information. Though, there is no legal assistance associated with fraud alerts, it can help you most of the times to stay clear of credit fraud. Here is a complete discussion about placing a fraud alert.

Contacting Three Credit Bureaus
Fraud alerts can be placed by contacting one or all three credit bureaus, as mentioned below:

  • Experian

By phone: 1-888-397-3742
By mail: P.O. Box 9532, Allen, TX 75013
By internet: http://www.experian.com/fraud

  • Equifax

By phone: 1-800-525-6285
By mail: P.O. Box 740241, Atlanta, GA 30374-0241
By internet: https://www.alerts.equifax.com

  • TransUnion

By phone: 1-800-680-7289
By mail: Fraud Victim Assistance Division, P.O. Box 6790, Fullerton, CA 92834-6790
By internet: http://www.transunion.com/corporate/personal/fraudIdentityTheft/fraudPrevention/fraudAlert.page

How is Fraud Alert Activated?
You are simply required to contact the fraud handling departments of the three bureaus and ask them to activate a fraud alert with your credit report. A number of vendor services are also available that will contact the credit bureaus on your behalf and activate your fraud alerts. They do it for the first time and also, at the time of fraud alert expiration. Fraud alert is then activated by each of the three credit bureaus, as they attach an alerting statement with the credit reports issued by them.

Whenever a fraudster tries to open a credit account in your name, the concerned creditor will contact you on phone to verify the process. If you do not provide verification, the account is not opened. Thus, it is necessary to provide the most convenient contact number while requesting for a fraud alert.

The activation of fraud alerts takes place within the time period of 24 hours. Once it is activated, the consumer is sent a report via email within one week.

Some Important Points

  • Fraud alert is used to verify the legality of the new credit account and thus, it doesn’t affect the existing accounts.