What is credit bureau fraud alert and when to be used?


A credit bureau fraud alert is a service offered by the credit bureaus to help prevent identity theft. If someone tries to apply for credit in your name, you will be notified if you placed a fraud alert. The loan application will be procrastinated until the transaction is verified with you.

With a credit bureau fraud alert you may be asked to provide details on the phone about the circumstances of ordering fraud alert.

A credit bureau fraud alert will slow your mortgage application down. Use credit monitoring to avoid delay.

Credit Bureau Fraud Alert Types

Short term credit bureau fraud alert - this fraud alert is ordered to stay on your credit report for 3 months and you are entitled to 1 credit report per credit bureau within 12 months time. Initial fraud alert is useful when your purse has been stolen and all your personal data and credit cards were kept inside.

If you have already been an identity theft victim, you will need extended credit bureau fraud alert. You will have to provide them with identity theft report and the bureau you contacted is responsible to inform the other two consumer reporting companies about your situation and request a fraud alert. Extended credit bureau fraud alert will remain on your credit report for 7 years.

How to request a credit bureau fraud alert?

Call one of the credit reporting agencies and request initial or extended alert on your credit report. They have the responsibility to inform the other two credit bureaus about your case. Also, they could use a security freeze instead of fraud alert.

After you ordered a fraud alert, it will be placed within 24 hours. You are entitled to free credit reports and can request that your SSN is not displayed on the credit report. You may ask that the last 4 digits are only shown. If anyone tries to use your data to get a loan, you will be notified over phone and the information will be verified with you. Short term fraud alerts may be renewed after the 90-day period is over.

When you decide you are free from danger, you could remove the credit bureau fraud alert by submitting written request along with a whole bunch of identification.

Mortgage rates hit their lowest since 1955. Ask the home loan experts we recommend Quicken Loans how to take advantage of them.
Was this Mortgage QnA helpful?
Not at all
  • Currently 2.9/5 Stars
  • 1
  • 2
  • 3
  • 4
  • 5
Add to this Answer

Mortgage QnA is not a common forum. We have special rules:

  • Post no questions here. To ask a question, click the Ask a Question link
  • We will not publish answers that include any form of advertising
  • Add your answer only if it will contrubute to the quality of this Mortgage QnA and help future readers
If you have trouble reading the code, click on the code itself to generate a new random code. Verification Code Above:
Bookmark and share this QnA: