Fraud Alerts Overview
Understanding fraud alerts and when to use them for identity protection.
What is a Fraud Alert?
A fraud alert is a notice on your credit report that tells creditors to take extra steps to verify your identity before opening new accounts. It's free and easier to manage than a freeze, but provides less protection.
Types of Fraud Alerts
Initial Fraud Alert
Duration: 1 year
Use When: Suspect identity theft risk but not confirmed victim
Benefit: Creditors must verify identity before granting credit
Renew: Must manually renew after 1 year
Extended Fraud Alert
Duration: 7 years
Use When: Confirmed identity theft victim
Requires: Police report or FTC identity theft report
Benefit: Same as initial plus removed from pre-approved credit offers for 5 years
Active Duty Military Alert
Duration: 1 year (renewable)
Use When: Deployed military personnel
Benefit: Extra protection while away. Removes from pre-approved offers for 2 years
How to Place Fraud Alert
Easy: Only need to contact ONE bureau - they notify the other two
- Equifax: 1-800-525-6285 or equifax.com/personal/credit-report-services
- Experian: 1-888-397-3742 or experian.com/fraud/center.html
- TransUnion: 1-800-680-7289 or transunion.com/fraud-victim-resource
Info Needed: Name, SSN, address, phone, email. Extended alert requires identity theft report.
What Fraud Alert Does
- Creditors must take "reasonable steps" to verify identity
- Usually means calling phone number on file
- Removes you from pre-screened credit offer lists
- Does NOT block access to credit report
- Does NOT stop fraudulent use of existing accounts
- Less secure than credit freeze
Fraud Alert vs Credit Freeze
Fraud Alert
Pros: Free, easy to place (one call), don't need to lift for credit applications
Cons: Weaker protection, relies on creditor compliance, expires
Credit Freeze
Pros: Strongest protection, completely blocks access, permanent until you lift
Cons: Must lift when applying for credit, requires three separate processes
Recommendation
Use credit freeze for maximum protection. Fraud alert okay as temporary measure or if you frequently need credit.
When to Use Fraud Alert
- Wallet or purse stolen with IDs and cards
- Data breach notification from company
- Suspicious activity on accounts
- Temporary protection while deciding on freeze
- After identity theft (extended alert) alongside freeze
- Military deployment
Limitations
- Creditors only required to take "reasonable steps" - not defined
- Some creditors may ignore alert
- Doesn't prevent misuse of existing accounts
- Expires and must be renewed
- Less effective than freeze
Removing Fraud Alert
Contact bureau that placed alert. Provide identifying information. Takes effect within 3 business days.