The credit fraud alert asks the creditor to reach you by phone to verify the opening or change to the account. When you place the fraud alert, the credit bureau will ask for your phone number and it is suggested that you use a cell phone so you can always be reached.

The phone call is not required by law though it should be!!!

The initial fraud alert has a ninety day cycle. This must be renewed each 90 days to keep in force. Depending on the company and their own requirements in some cases spending that looks out of the ordinary on your account may be denied till a phone conversation with customer service is made.

Many claim that fraud alerts only focus on new accounts and do not affect older accounts. To some degree that might be true but depending on the company of your older accounts and their in house policies it may not be true.

A few years ago I was a customer of Lifelock and tried to make a purchase online after signing up. Lifelock formerly used credit fraud alerts to put extra protection around their customers accounts and this cut down on junk mail. After signing up with them that purchase would not go through till I called customer service and okayed the order.

So keep in mind this can have some detrimental effects. In that instance I was glad to know they were being careful about what was going on with my card. Usually a customer service number is printed on your card so this kind of problem can be easily rectified.

You are also entitled to a free credit report from each of the three bureaus when fraud alerts are placed on your accounts.



Other credit card fraud alerts that can be placed on accounts are...

the active duty military fraud alert

the extended fraud alert

Additionally prescreened offers for credit and insurance will be stopped for 2 years.


The extended credit card fraud alert can be activated when you have become a victim of identity theft. In this case the same features of the initial credit fraud alert will be in place but the time will be for 7 years.

As with the active military fraud alert pre-screened offers of credit and insurance will be stopped. The law says for 2 years yet Equifax states 5 years!!

In this instance a creditor MUST verify account openings by phone. A police report showing you are the victim of identity theft is a requirement for this credit card fraud alert. This also entitles you to two extra credit file disclosures (credit reports).

One draw back with the credit card fraud alert is the fact that you will have difficulty with any instant credit offers like those that are offered in stores when making purchases.

To place fraud alerts:

Equifax

Mail: Equifax Information Service LLC

P.O. Box 115069

Atlanta, GA 30348-7289

Experian

Transunion

fvad@transunion.com

Phone: 1-800-680-7289

Mail: Transunion

P.O. Box 6790

Fullerton, CA. 92834

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