Guide

How to set up a fraud alert to protect your credit and identity

How to set up a fraud alert to protect your credit and identity
Written by Publishing Team

Identity theft and fraud have been on the rise for years. While exact numbers vary widely and likely go unreported, the Federal Trade Commission received 4.7 million complaints about criminal activity in 2020 compared to 3.2 million complaints in 2019, with credit card fraud being one of the most common forms of identity theft. .

One painful type of financial crime comes when fraudsters open new credit accounts — apply for a range of credit cards or take out loans — in your name. This can be detrimental to your credit health and take time and effort to resolve the issue. One way to mitigate a potential catastrophe is to set up fraud alerts in your credit files.

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