3 Types Of Fraud Alerts

MoneyTips

You probably know that you can place a fraud alert on your credit reports – but did you know there are three different types of fraud alerts that you can apply?

A fraud alert obligates potential creditors to verify the identity of anyone asking for credit in your name. Any fraud alert that is placed with one of the three main credit reporting agencies (Equifax, Experian, and TransUnion) will be forwarded and applied to the other two credit reporting agencies.

Fraud alerts are easily applied online, by phone, or by mail – but which type of fraud alert should you apply?

If you think your information may be exposed and you're vulnerable to fraud, but you haven't suffered any losses yet, apply an initial fraud alert as a pre-emptive measure. A recent amendment of the Fair Credit Reporting Act extended the initial fraud time period from ninety days to one year. You'll receive one free credit report from each of the agencies as part of your a...

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