How to Put a Fraud Alert on Your Account

According to the Federal Trade Commission (FTC), as many as 9 million Americans suffer identity theft each year. Identity thieves steal your personal information--such as your Social Security or credit card number--to rack up charges on your credit cards, open a new credit card in your name, establish a phone or bank account in your name or even rent an apartment. Not only do identity thieves steal your money, but they also can seriously damage your credit rating. You can stop an identity thief from opening any more accounts in your name by putting a fraud alert on your credit reports.

Instructions

1

Place a fraud alert on your credit reports by contacting one of the three major credit reporting agencies: TransUnion (transunion.com), Equifax (equifax.com) or Experian (experian.com). The company you contact is required to contact the other two, which are then required to place the fraud alert on their reports.

2

Ask to place either an initial or an extended fraud alert on your credit reports. An initial fraud alert stays on your credit report for at least 90 days and requires potential creditors to use "reasonable policies and procedures" to verify your identity before issuing you credit. An extended fraud alert lasts seven years and requires potential creditors to contact you or meet with you in person before extending you credit. Both alerts may cause some delays when you're trying to access credit.

3

Order one free copy of your credit report from each of the three credit reporting agencies.

4

Review your credit reports. Make sure your name, address, Social Security number and employment information are correct. Check for any unexplained debts, inquiries from companies you have never contacted, or new accounts you haven't opened.

5

Correct any inaccuracies on your report by contacting the credit reporting agency. The Fair Credit Reporting Act requires the agency to block the fraudulent information from appearing on your report. Send the agency a copy of an Identity Theft Report and a letter explaining what is fraudulent.

6

Check your credit reports regularly for fraudulent activity for at least the first year after you experience identity theft.