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A fraud alert is something that the major credit bureaus attach to your credit report. When you, or someone else, tries to open up a credit account by getting a new credit card, car loan, cell phone, etc., the lender should contact you by phone to verify that you really want to open a new account. If you aren’t reachable by phone, the credit account shouldn’t be opened
The fraud alert will remain in place for only 90 days. When the time runs out, you’ll need to reactivate the alert. You can also apply for a 7-year victim statement that will keep the alert in place for, you guessed it, 7 years. For this, you will have to provide proof that you’ve been a victim of fraud.
If you decide you want to remove a fraud alert you’ll need to request it in writing. You’ll have to include your name, social security number, current and previous addresses, date of birth, and telephone number and send it to the fraud department of the credit bureaus where the alert has been placed. I’d also suggest using certified mail or overnight shipping. You want to be able to track a letter that has all that critical data. You could also just wait the 90 days for the alert to expire.
Please let me know if you need more information or clarity on my answer. Thank you.
This is a wonderful, clear answer. The Robot Recording at Trans-Union did say that the first 30 days are free but we will be billed $9.99 then per month. I question that I heard that correctly also, I believe that I did, but I do not want to pay that fee, wondering also if it applies to each of the other 2 credit bureaus they mentioned, Experian & I-Forget. Any idea ? Thanks again, I was afraid that we would not be able to use our current credit cards or that it might affect in some way the re-fi we are in the middle of right now.