Friday, December 4, 2009

What Is A Fraud Alert On Credit Report?

So what is a fraud alert on credit report? Why is it so important to have a fraud alert on credit report? What are its benefits? These are the issues that this article will talk about. First of all, let�s discuss what a fraud alert on credit report is. A fraud alert on credit report is an automatic systems check that tells you when a strange and possibly fraudulent activity was posted on your credit report. This fraud alert on credit report helps to prevent someone else from using your identity and credit history to apply for credit. The fraud alert on credit report also protects from mistaken activity being placed on your credit report.

There are many different companies that offer services to place a fraud alert on credit report. They all have to deal with the three major credit bureaus, so it is the best idea to go to these credit bureaus directly for placing a fraud alert on credit report. The credit bureaus offer this service. However, there is a fee to place a fraud alert on credit report. This fee is not large and it is worth it to pay this fee to protect you. It is worth it to pay this fee to gain access to all the benefits brought to you by placing a fraud alert on credit report.

Another thing to mention about the fraud alert on credit report is the fact that it will help you to build a better credit history and have a higher credit score. For example, when you have a fraud alert on credit report, if something negative is posted on your credit history, you will receive an alert right away and will be notified of this activity. After that you can file a dispute with the credit bureau without any delay to remove any erroneous negative activity from your report.

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