When should I place a Fraud Alert on your credit report?
If you suspect that either you have been, or if you reasonably believe that you are at high risk of being a victim of identity theft, you should promptly file a fraud alert with all the three major credit reporting agencies.

When you contact any of the three major credit bureaus to place an alert on your credit report, you will be asked to prove your identity by sharing with them your personal details such as your SSN, your name, address, and any other personal information as may be requested by that consumer reporting agency.

Types of Fraud Alerts:

• An Initial Alert:
  An initial alert remains on your credit report for at least 90 days. You may ask that an initial fraud alert be placed on your credit report if your wallet or purse has been stolen or if you have been a victim of a phishing (a type of Internet fraud) scam. Do not forget to request your free credit report from each of the three major/national consumer reporting companies.

• An Extended Alert
  An extended alert remains on your credit report for seven (7) years. You may want to consider asking that an extended alert be placed on your credit report if you have been a victim of identity theft. A consumer credit reporting company may require you to provide them with a copy of an identity theft report. When have an extended alert on your credit report, you are entitled to receiving two free credit reports within twelve months from each of the three (Equifax, Experian & Trans Union) consumer credit reporting agencies. As soon as you place an extended fraud alert on your credit report, your name will be delisted from marketing lists used for sending you pre‑screened credit offers. Unless you explicitly ask the three credit reporting companies to do otherwise, your name will then remain delisted from such lists for five (5) years.

What happens as a result of placing an alert on my credit report?:
Any business or financial institution that wishes to extend you new or additional credit will be required to contact you personally using your contact details (phone number, address, etc.) on your file. They will be required to ascertain your identity before issuing credit. It is very important, therefore, to keep all your contact information in your alert current.

Can I ask that an alert be removed form my credit report?
Certainly. When you contact any of the three major credit bureaus to remove an alert from your credit report, you will asked once again, to prove your identity by sharing with them details such as your SSN, your name, your address, and any other personal information as may be deemed necessary by that consumer reporting agency.