Posted on: 19th Jul, 2009 10:15 pm
Just wondering what is credit bureau fraud alert and when to be used, how to use it?
Hi jk,
The fraud alert is a service available with the major credit bureaus to protect your credit from identity theft. The service updates you on any significant changes on your credit report. In case someone tries to open a credit account using your name, you will be informed. The application will be delayed until they verify the information with you. To place a fraud alert on your credit report, you need to contact the fraud department of the credit bureaus.
The fraud alert is a service available with the major credit bureaus to protect your credit from identity theft. The service updates you on any significant changes on your credit report. In case someone tries to open a credit account using your name, you will be informed. The application will be delayed until they verify the information with you. To place a fraud alert on your credit report, you need to contact the fraud department of the credit bureaus.
Hi Jk! I agree with Jenkin. A fraud alert is an alert that you can request from the three credit bureaus in the event that you think your accounts or your name have been compromised. When you put a fraud alert on your reports, this will prevent a thief from taking out loans or opening new lines of credit under your name since the establishments involved will have to confirm the application with you first. To get a fraud alert, you can simply contact the credit reporting agencies.