Get in the know about fraud alerts at: http://www.transunion.com/personal-credit/identity-theft-and-fraud/fraud-alert-vs-credit-freeze.page
If you believe you are a victim of fraud or identity theft, TransUnion has two different types of services to help you: A Fraud Alert or a Security Freeze, which is sometimes referred to as a Credit Freeze.
Here is the difference:
• A Fraud Alert is a cautionary flag, placed on your credit file to notify lenders and others that they should take special precautions to ensure your identity before extending credit.
• When you place a Fraud Alert on your credit report with any one of the three major credit reporting companies that company will notify the other two and fraud alerts will also be placed on those files. An initial Fraud Alert lasts for 90 days and may be renewed.
• A Security Freeze is a more dramatic step to protect your credit. Placing a Security Freeze will prevent lenders and others from accessing your credit report entirely, which will prevent them from extending credit. With a Security Freeze in place, even you will need to take special steps when you wish to apply for any type of credit.
• Because of more stringent security features, you will need to place a Security Freeze separately with each of the three major credit reporting companies. A Security Freeze remains on your credit file until you remove it or choose to lift it temporarily when applying for credit or credit-dependent services.
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Heard the terms security or credit freeze? How about fraud alert? Wonder what the difference is? Good question.
If you believe you are a victim of fraud or identity theft, TransUnion has two types of services to help you. A fraud alert, or security freeze, which is sometimes referred to as a credit freeze, can be placed fast and easily online.