Fraud alert
A fraud alert is a flag on your credit report asking businesses to confirm that an application really comes from you before they open new credit in your name. An initial alert lasts one year and can be renewed; it is free.
By Beacon · Updated
How it works
You can request an initial alert if you have been affected by identity theft or think you might be. A single request to any one of the three nationwide credit bureaus is enough, because that bureau is required to pass the alert to the other two. The alert does not block access to your report; it asks businesses to take extra steps, such as checking with you, before opening new credit.
The extended version runs for seven years. To qualify, you need to have been a victim of identity theft and to have either an FTC identity theft report from IdentityTheft.gov or a police report. Service members on active duty have a separate alert that covers one year at a time and can be renewed to match the length of a deployment. All three types are free.
An initial alert also comes with the right to a free report from each of the three bureaus, a good point to scan for accounts or inquiries you do not recognize. An alert can sit alongside a credit freeze. Neither one repairs fraud that has already happened; that needs separate reporting and disputes.
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Sources and further reading
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