GLOSSARY · INSURANCE
Fraud alert
A note on your credit file telling lenders to take reasonable steps to verify your identity before opening credit. An initial alert lasts one year, an extended alert for identity theft victims lasts seven years, and an active duty alert lasts one year; placing one at any bureau places it at all three. It is weaker than a credit freeze but never needs lifting.
Also called: initial fraud alert, extended fraud alert, active duty alert
LEARN IT PROPERLY
CHAPTER · SECURITY & CRISIS RECOVERY · STRATEGIESCredit Freezes, Fraud Alerts and MonitoringCHAPTER · SECURITY & CRISIS RECOVERY · STRATEGIESRecovering From Identity TheftRELATED TERMS
SOURCES
- Fair Credit Reporting Act, 15 U.S.C. 1681c-1. U.S. Code.