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Service members on active duty can request a fraud alert that lasts for one year and can be renewed each year for the length of their deployment. How long does it last? 7 years (can be renewed).

Who it’s for: Anyone who has been the victim of identity theft.

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You also get access to an extra free credit report from each major credit bureau each year, as well as the one you’re entitled to by law. In addition to confirming your identity for new credit, an extended alert removes you from pre-screened credit card and insurance offers for the first five years of the alert. In addition to documents proving your identity and mailing address, you’ll need to present an official identity theft report.īureaus will accept either a report filed with the Federal Trade Commission (FTC) at or a police report. It lasts for seven years and can be renewed indefinitely. If you’ve been a victim of identity theft, you can set up an extended fraud alert. How long does it last? 1 year (can be renewed). Who it’s for: People who suspect their identity has been stolen. For an initial fraud alert, you’ll need to present documents to prove your identity and current mailing address.Īn initial fraud alert requests lenders confirm your identity, but it doesn’t offer any other benefits. It lasts for one year, and you can renew it every year thereafter. Initial fraud alertĪnyone who suspects fraud can set up an initial fraud alert. There are three different types of fraud alerts you can request, depending on your situation: 1. Types of Fraud Alerts: Initial, Extended, and Active Duty Try Aura’s identity theft protection free for 14 days to secure your identity and finances against scammers. ✅ Take action: If you think you’ve been the victim of fraud, your bank account, email, and identity could also be at risk. You can still request your free annual credit report if you have a fraud alert set up. You can deny the request and protect yourself from the attempted identity theft.įraud alerts are free and have no impact on your credit report or credit scores.

If someone tries to take out loans or open new accounts: You should get a call to authorize new accounts that you didn’t request.

Only after you agree will the lender process an application for a new credit account.

If an inquiry is made into your credit history: you’ll get a call from a lender confirming your identity.

Here’s what happens if you have a fraud alert in place: In most cases, this means you’ll receive a phone call confirming any new accounts or loans. What Is a Fraud Alert? How Does It Work?Ī fraud alert flags your credit report and recommends that lenders verify your identity before issuing new lines of credit. Now, let’s go deeper into both options to help you decide which one you should use to protect your identity and finances. If scammers have access to your credit card numbers, bank account, or other sensitive financial information, you should consider a credit monitoring service. Note: Neither a fraud alert or a credit freeze can stop scammers from using or taking over your current accounts. If you don’t want a credit freeze anymore, you must call all three bureaus.

No expiration date: If you no longer want a fraud alert, it will disappear on its own.

Need to contact all bureaus: You’ll need to add and remove freezes with each credit bureau separately.

You’ll need to temporarily lift the freeze each time.

Blocks all credit: A freeze rejects even valid credit checks, like for a car loan or new job.

Here are the main differences between a fraud alert and a credit freeze: But while all of these tools are valid methods for protecting your credit against scammers, there are some pretty big differences between them that you should be aware of. Many people use the terms fraud alert, security freeze, credit freeze, and credit lock interchangeably.

#EQUIFAX CREDIT FREEZE LIFT HOW TO#

In this guide, we’ll explain the differences between a fraud alert and credit freeze, how to use both of them, and give you a quick guide on picking which option is best for protecting your financial health. īoth a fraud alert and credit freeze can help protect you from new account and loan fraud.īut which one is right for you and your unique situation?

Last year, the Federal Trade Commission (FTC) received 10x as many complaints about fraudulent new accounts than fraud on existing accounts. Unfortunately, this type of financial fraud happens more than you’d expect. And one of the most damaging things they can do is access your credit file and open new accounts or take out loans in your name. Is a Fraud Alert or Credit Freeze Better?Ĭriminals, con artists, and identity thieves are almost always financially motivated.

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