A Credit Bureau Fraud Alert Can Help Stop Identity Theft

An identity thief can strike at anytime. However, there is a solution to help protect yourself. When you sign up for a credit bureau fraud alert with the three major credit reporting bureaus, they will notify you when someone is applying for a credit card or loan using your personal information.

How do I sign up for a Credit Bureau Fraud Alert?

To set up a fraud alert with each of the three major credit bureau reporting agencies, contact each agency's fraud department. Then ask them to flag your file with a fraud alert.

How does a Credit Bureau Fraud Alert work?

When you initiate a credit bureau fraud alert with the three major credit bureaus, the fraud alert remains on your file. The duration of the fraud alert varies depending on the agency. Experian offers a 90-day security alert; TransUnion provides a 1-year security alert and Equifax offers a 6-month security alert. You will have to renew the fraud alerts with the credit bureaus when they expire. If 90 days, six months and one year isn't enough, you can apply for a 7-year victim statement by showing proof that you were a victim of fraud. All the alerts are free.

Drawbacks of Credit Bureau Fraud Alerts

While a fraud alert will protect you against the most stringent efforts to steal your identity and rack up huge credit card deficits, there is a downside to credit fraud alerts. Fraud alerts reduce the ability of consumers to impulse shop. If you are scoping out a huge 50-inch plasma television in the department store and the only way you can buy it is by applying for a store credit card, you may experience a short delay. With an active fraud alert, the credit bureaus will call your home or work phone to approve the application for credit.  

How do I remove a Credit Bureau Fraud Alert?

When you want to have a fraud alert removed from your file, you need to request it writing. The letter needs to include your name, social security number, current and previous address, date of birth and telephone number. Send the letter to the fraud departments of each of the three major credit bureaus.

Are you looking for more information on a credit bureau fraud alert? Consumers can contact one of the three major credit reporting bureaus for more information. If you would like more information about debt related matters, contact an NCO Financial Systems, Inc. representative. Contact information for NCO Financial Systems, Inc. can be found on every page of the consumer help unit website.

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