What does putting a fraud alert do to your credit rating/score?

[spidey07]

Just curious. Seems a laptop was stolen from one of my benefits companies with personal info and I was advised that I could put an alert on it.

 

[Tsaico]

It makes everything a little harder. You will now have to submit for longer wait times while your identity is verified. As for your actaul score, it has no effect. Certain quick loan places also won't do buisiness with you, but the legit places shouldn't be too bad.

 

[spidey07]

Doesn't sound too bad. I'm gonna put the alert on.

 

[b0mbrman]

Makes it so that people who want to offer you credit have to contact you first.

On the other end, it's very tough to get it removed...

 

[b0mbrman]

Oh, and it doesn't do anything to your rating/score....but it can prevent fraud that might hurt your score

 

[TBone48]

I had it activated after my identity got stolen a few years ago. It cut down (but did not eliminate) unsolicited credit card offers, and prevents you from getting "instant" credit either at a store or online. It's a worthwhile trade-off, IMO.

 

[kami333]

Originally posted by: TBone48
I had it activated after my identity got stolen a few years ago. It cut down (but did not eliminate) unsolicited credit card offers, and prevents you from getting "instant" credit either at a store or online. It's a worthwhile trade-off, IMO.

You can op-out to get rid of those unsolicited credit card offers.

 

[TBone48]

Originally posted by: kami333

Originally posted by: TBone48
I had it activated after my identity got stolen a few years ago. It cut down (but did not eliminate) unsolicited credit card offers, and prevents you from getting "instant" credit either at a store or online. It's a worthwhile trade-off, IMO.

You can op-out to get rid of those unsolicited credit card offers.

They don't bug me, I just mentioned it as a side benefit.

 

[kami333]

Originally posted by: TBone48

Originally posted by: kami333

Originally posted by: TBone48
I had it activated after my identity got stolen a few years ago. It cut down (but did not eliminate) unsolicited credit card offers, and prevents you from getting "instant" credit either at a store or online. It's a worthwhile trade-off, IMO.

You can op-out to get rid of those unsolicited credit card offers.

They don't bug me, I just mentioned it as a side benefit.

They are great for negotiating lower rates though, I got a couple of my cards lowered to 0% APR

 

[shopbruin]

i put one on mine after the UCLA info hacking. i didn't have any problems getting my car financing - drove the car off the lot. but now that i think about it, i have received a LOT fewer credit card offers in the mail.