Is there any drawbacks if I put up alert at Credit Bureau , when I suspect i am identity theft?
Simon Z asked:
Is there any drawbacks if I put up alert at Credit Burearus , when I suspect i am victim of identity theft?
Jeremy
Is there any drawbacks if I put up alert at Credit Burearus , when I suspect i am victim of identity theft?
Jeremy
Brad
Not really, better safe than sorry. Just remember that if you want to apply for credit you’ll have to have it lifted prior to your prospective lender running your credit application.
Kathryn
no, there shouldn’t be. the credit bureaus will just notify you if someone trys to open an account in your name.
Michael
Well if you believe you are a victim then certainly put the alert on regardless of drawbacks but one con/drawback is that if you wanna apply for anything that requires your credit report being pulled it will not be an instant process like applying for online checking, savings, instant approval cards, etc that often approve you in 60 seconds — they will not approve you right away but rather require additional information to prove you are the real you…..so to sum it up anytime you apply for credit in addition to normal identification procedures you’ll be required to submit MORE information which could range from utility bill to having them call you on the number that’s listed on your report and not the number provided
An experience with me at one point was that I applied for a cell phone bout 6 years ago when I had an alert in my file and the company was required me to jump thru some hoops — provide them a second piece of id, utility bill, past addresses, and for me to go home so they could call me at the number listed on my file and then come back, among some other stuff I can’t remember……so applying for credit over the internet can take longer and applying in person you’ll have to have more id documents….you pretty much have to prove twice as hard you are you
Roberta
No. Credit monitoring has no affect to your credit score. It’s simply a service that keeps your credit in check.
Jerome
No drawbacks – still not fully effective in eliminating identiy theft. I have identity protection with SOLUS ID. If I ever become a victim of identity theft they do all the credit and identity restoration work for me.
Sheila
Anything you do with the Credit Bureaus is kinda long and drawn out. However, it should not affect your credit status in any way. What you really should do is make sure that everything from your bank account and bank cards, credit cards, social security number, driver’s license, are okay. Call the respective companies, I know it’s a pain but it might just save your butt in the process. As for putting an alert in the credit bureau, make sure you have in writing, a real way of taking it off, again, when you no longer have this fear.
Wish you luck
Aquachild