12-11-2012 03:27 PM - edited 12-11-2012 03:42 PM
Hello my fico friends, I'm not sure on the dates but I believe it was 3 months ago when I placed a fraud alert on my report ( someone was trying to by things in a diff state with my debit number) I believe it was for 90 days. Anyways, my question is I want to add a family member as an authorized user on my credit cards to help rebuild their credit, now will the fraud alert I have placed effect me from doing this? Also, will they not report my good history to their credit file because of the FA?
Thank you ;-) ****also, one more thing, my family member lives in a different state, will this effect him? Should I just put MY address where it asks where the AU user lives?
12-11-2012 07:03 PM
12-12-2012 01:31 AM
If it was just an initial fraud alert, they expire after 90 days.
If an extended fraud alert, the period is longer.
Did you send them a copy of a police report when requesting the fraud alert, and request an extended alert?
12-12-2012 03:58 AM
I never sent in a police report nor did I requested extended time.
12-12-2012 10:30 AM
Which credit card are you doing this with?
Some of the cc companies will only update the credit file for the person with the same address. (Discover card would not report for an AU with a different mailing address.)
12-12-2012 12:20 PM
Initial, or "one-call", fraud alerts are provided for under FCRA 605A(a), and require only request from the consumer, upon proof of identity.
They have no specified expiration date. Rather, that section provides that the CRA must maintain the initial alert for no less than 90 days. Inference is that they are removed after that period. However, I doubt that the CRAs do daily scours of all credit reports and track date from an initial fraud alert.
Any fraud alert can be removed by the consumer at any time by simply notifying the CRA, so if you want to be sure of its removal, simply contact the CRA, I suspect that they place the burden on the consumer to rescind their own request.
Requirement to keep a fraud alert on file for more than 90 days requires providing the CRA with a copy of an identity theft (police) report, so if one was not provided, it is only an initial alert. However, even if considered as an extended alert, the consumer always has the same right to rescind their own fraud alert.
IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more
FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.