Ever seen that commercial where people dance around cheerfully because they have stolen someone’s financial identity? One of the characters is a guy who talks like a little girl because he’s stolen her identity.
Identity theft occurs when someone pretends to be you when applying for credit cards, a loan or when making a big purchase. Thieves use your Social Security number or other personal information without your knowledge or permission.
Equifax announced today another way you can protect yourself. If someone’s stolen your financial identity, you can sign up for a free fraud alert on your credit report. You have three options: an initial 90 day fraud alert, an extended fraud alert or an active duty alert, if you’re in the military.
The extended fraud alert lasts for 7 years and requires a valid police report in order for it to be issued. Regardless of which fraud alert you choose, creditors have to check that you authorized a credit request before they issue credit.
Equifax cites these benefits:
– Anytime, anywhere access
– Instant online confirmation of the fraud alert request
– Email confirmation within 48 hours verifying that a fraud alert has been placed on your Equifax credit file
– Automatic notification of the fraud alert to the other credit reporting companies
– Access to free Equifax Credit Report when alert is placed on credit file
For more information check out Equifax’s Web site: www.fraudalerts.equifax.com/
You could also freeze your credit. In most states, it costs $10 to place a freeze and another fee each time you want to lift it. It makes most sense when you’ve already had your identity stolen, if you feel you’re at risk or you don’t think you’ll need to access your credit report anytime soon.
Feb. 12, 2008.
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