Does Credit Card Fraud Alert Protect Us?

<h1>Does Credit Card Fraud Alert Protect Us?</h1>

<p align=right>by Rachael Wimbley</p>

<div align=justify>Nowadays more and more people face the problem of identity theft. How can you realize that you are a victim of identity theft and what can you do to solve this problem? If your credit card statement includes charges for things you never bought, or you get a call (letter), informing that you have been approved or denied credit for accounts that you never applied for, then you are a victim of identity theft. Identity theft means that someone uses your personal identifying information, like your Social Security number, or credit card number, without asking you, to commit fraud. If you are a victim of identity theft, you are to put a fraud alert on your credit reports and review them. A fraud alert is something that credit bureaus attach to your credit report. First of all, you are to speak to the fraud department of one of the main credit bureaus (Transunion, Equifax, and Experian) to place a fraud alert on your credit file, plus a victim's statement asking that creditors call you before granting credit or other services. Victim statements may cause delays in getting credit while the creditors try to contact you. When you open a credit account by getting a new <A href="http://www.ezpreapproval.com" target=_blank>credit card</A>, the lender will contact you to make sure that you really want to open a new account. Fraud alerts help to prevent an identity thief from opening new accounts in your name. When the credit bureau proves your fraud alert, it will contact the other two. So they will place an alert on their versions of your report, too. If you are not asked, the credit account wouldn't be opened. It should be mentioned that it's up to you what kind of fraud alert to choose. If you have chosen initial alert, it will remain on your credit reports for 90 days. While the alert is on your file, perhaps you won't be able to get instant credit. When you file an alert, you will be eligible for a free credit report from each of the three credit reporting agencies. As far as extended fraud alert is concerned, it will remain on your credit file for seven years. However, you can ask to remove the fraud alert before seven-year period run out. The only thing you need is to make this request in writing and provide information to confirm your identity. These procedures are planned to prevent criminals from removing fraud alerts from victims' accounts. A fraud alert provides some protection against identity theft, but not in all cases. It will not help you when an identity thief uses your existing credit cards or other accounts. And it will not help you when an identity thief opens new accounts in your name that do not require credit check. So, identity theft is very serious. Many victims of identity theft spend much money and time repairing damage to their good name and credit score. </div>

<p align=center>Article source: <a href="http://www.ArticlePros.com/finacces/credit/article-99807.html">ArticlePros.com</a></p>
 
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		<p align=center><b>About the author</b></p>
		<p align=justify>In her articles about <a href="http://www.ezpreapproval.com" target="_blank">credit cards</a> Rachael Wimbley gives emphasis to possible problems faced by cardholders. Search for more information on <a href="http://www.ezpreapproval.com/Secured-Credit-Cards-1049222-page.php" target="_blank">secured credit cards</a> visiting the website.</p>
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