Fraud Alerts?

Question

Has anyone ever completed the fraud alerts for all three major credit bureaus. just curious because mail was stolen from my mail box. I'm fearful of identity theft. just wanted to know if there are any drawbacks to signing up for the alerts

Answer 1

Find out if whoever is issuing fraud alerts is legitimate. This is a good way to get confidential information to be used against you and not for you.The same is true of Social Security numbers This should be carefully protected.

Answer 2

Actually, the only drawback that I can see is that it may be a little more difficult for you to obtain credit now.  Only because they have to now prove that you are really you.  What will happen now when you apply for credit or try to open any new accounts is, they will verify that it is actually you before they extend credit to you.  They will call you and ask you identifying questions to make sure you are who you say you are.  Sometimes it can be a hassle.  However, think about it like this: It's better safe than sorry.  I think that it is a benefit more so than a disadvantage.  It will be difficult for anyone to obtain anything in your name now, as a result of the fraud alerts.

Answer 3

Do know if there are any drawbacks, but it should be alright.  Contact the BBB, and ask them.  But the three major credit bureaus along with any other agencys, like the police department, social security office, etc. Should be called also.  Won't hurt, can only help.

Answer 4

no idea

Answer 5

Activating a fraud alert will cause you a problem if you're used to walking into an electronics store, signing up for their amazing "don't pay anything until 2010" credit offer, and walking out of the store with a new big-screen TV. With a fraud alert active, you have to be available at either your work phone or home phone to approve opening the credit account. No big deal. It will just require a short delay in your instant gratification and a call-back to the credit company authorizing the new account.

If you can live with that, putting a fraud alert on your credit will help protect you in some situations.

On the plus side, a fraud alert won't cause any problems with your current credit card, bank or credit accounts. It's focused on new credit accounts, not the ones you already have opened.

Hope this answers your question

LEGAL DISCLAIMER:  The advice contained herein is for informational purposes only.  It is not to be construed as Legal Counsel nor Legal Advice.