Fraud Alerts Are Now a Little Different

Fraud Alerts Are Now a Little Different

Good news, fraud alerts now last longer. Previously they expired after 90 days. Now you are protected for 1 year. Just as before, a fraud alert notifies lenders to call you to verify your identity before extending new credit. This important change helps you safeguard your information for longer.

What does this mean for me?

Going forward, if you choose to add a fraud alert to your credit report, it will remain there for 1 year. If you have an existing 90 day fraud alert, it will expire once the 90 days are up. You can continue to receive the benefits of fraud alerts by simply adding a new fraud alert on your credit report. The new alert will last for 1 year and you can renew it once it expires. Bonus: Each time you add a fraud alert, we will notify Experian and Equifax and they will add it to your respective credit reports.

Extended fraud alerts, for victims of fraud or identity theft, still last for 7 years.

How do I add a fraud alert?

Create or login to your account to add a 1 year fraud alert. You will be asked to provide a contact number where you can be reached to confirm your identity anytime an application for credit is being made. After you place a fraud alert you will get a confirmation email that the fraud alert has been placed. Your fraud alert will be on your credit report for 1 year from the date you add it. Be sure to mark your calendar. You can also remove your fraud alert or change your contact number (make sure it’s current) when you login. If you prefer, you can add a fraud alert by phone.

Anything else I should know?

A fraud alert tells lenders that they should take extra steps to verify your identity before extending new credit and provides them a phone number to call you, but it does not block access to your credit report. Your credit score can continue to grow, as it is not impacted by a fraud alert. Alternatively, a credit freeze will prevent new lenders from using your credit report to open a new account altogether and will remain on your credit report until you choose to remove it. If you want to take extra measures to protect your information, consider subscribing to one of TransUnion’s solutions that offer a number of important protection benefits designed for the breach age.

Disclaimer: The information posted to this blog was accurate at the time it was initially published. We do not guarantee the accuracy or completeness of the information provided. The information contained in the TransUnion blog is provided for educational purposes only and does not constitute legal or financial advice. You should consult your own attorney or financial adviser regarding your particular situation. This site is governed by the TransUnion Interactive privacy policy located here.

What You Need to Know:

The credit scores provided are based on the VantageScore® 3.0 model. Lenders use a variety of credit scores and are likely to use a credit score different from VantageScore® 3.0 to assess your creditworthiness.

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