fraud alerts and security freeze need advice

[Anonymous]

Hello,  while trying to rebuild my credit I got hit with identity theft some months ago. They didn't get any cards in my name because i I had a monitoring program and got notified of the inquires then called the creditors same day and they stopped anything from being processed, BUT i had the nightmare of getting 5 inquires from different creditors removed from my CRAs, but was successful. I now want to try to get some CCs to rebuild my credit. I have security freezes and fraud alerts on the CRAs. I know that an inquiry can not happen with a security freeze and wanted to remove them and just keep the Fraud alert when I apply. I also know that when I apply with a Fraud alert that the Creditor will have to contact me and thats fine. My question is----With just a Fraud alert can inquires appear again should this crook who has my personal info. trys to apply again? I know the creditors can't even do an inquiry with a security freeze but I am not sure with just a Fraud alert and don't want to wake up in the morning and see 5 new inquires that this crook applied. Thank you in advance for any help with this question, cheers

[Crashem]

Depends on the creditor. Supposedly you can give them code they can use to pull. Some creditors just tell you no, get rid of freeze. Others ask for the code. Expect automated denials from a bunch of creditors if applying online. Would probably app via phone but even there expect bad info. Going to have to do manual reviews etc.

[Anonymous]

Thank you for reply. I am going to take the freezes off  and just leave the fraud alerts on but am wondering if this thief trys to apply in my name will I be hit with an inquiry with just a Fraud alert?

[Anonymous]

Or does the creditor call me before doing an inquiry with just a fraud alert?

[Crashem]

If I remember correctly, fraud alert just let's creditor know, when you app for credit, to be careful. I think how the creditor handles it is up to them, but I can tell you what happens with my wife who has fraud alert on her reports. When she apped for chase, she got 10-14 day message even with high 700s fico. I knew to call right away and they transferred her over to verification department who asked her a bunch of questions. She then got approved. Amex on the other hand auto approved on first card. On 2nd Amex that day, they gave her waiting message. On follow up call they said They need to do manual verification to approve app. So Amex didn't seem to care about fraud alert on first app but bigger hassle on 2nd app.

[iCoop]

Billy if you are planning on permanently removing the security freeze on your credit reports, then the answer is Yes. Each time that a potential creditor pulls your credit and is able to do so, you will see a hard pull on your reports regardless of if you did it or an identity theft did it. The only way to stop this from happening in the first place is to keep the security freeze in place and do temporary lifts for a specific creditor or for a certain time window. That way you be the only one to know when to apply for credit before the window closes and stops pulls from being made against your reports.

I tried to open up a deposit account with a bank with a fraud alert on my file and they told me to call to verify my identity. I then had to fax a copy of my drivers license along with my application ID.

[Anonymous]

ok guys, thank so much for the advice. I was going to remove the security freezes and just leave the Fraud alerts but I didn't know that if the thief trys to apply even with a fraud alert, I could still get an inquiry. I guess I'll have to leave both on and then remove them when I apply. It really stinks though because I am trying to rebuild my credit and they block the file for pre-approved offers. with my past experience it seems I am always approved when I apply with a pre-approved offer but am always turned down when I apply without a pre-approved offer. I guess I am just going to take a rest and let my score build up. It took me almost 4 months to get 5 fraudulent inquirys off my credit reports, don't want to go through that again. It was like a bad dream,   cheers, Billy

[mousefai]

hi guys

a lender was trying to remove a inqiuires on my account. however, there is a fraud alert on my experian now.

do u know that is it possible for lender to REMOVE a inquiry if a fraud alert is happening?

thanks. 

[missjae]

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@Crashem wrote:
If I remember correctly, fraud alert just let's creditor know, when you app for credit, to be careful. I think how the creditor handles it is up to them, but I can tell you what happens with my wife who has fraud alert on her reports. When she apped for chase, she got 10-14 day message even with high 700s fico. I knew to call right away and they transferred her over to verification department who asked her a bunch of questions. She then got approved. Amex on the other hand auto approved on first card. On 2nd Amex that day, they gave her waiting message. On follow up call they said They need to do manual verification to approve app. So Amex didn't seem to care about fraud alert on first app but bigger hassle on 2nd app.

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+1.  Each creditor is different.  I have fraud alerts on my reports and some verify, some don't.  Chase and GE were good about verifying info.  Amex didn't for the first app but did for the second app.  Other creditors have as well and I usually have a hard time getting an instant approval because of it.  Even so, I don't think creditors are required to verify and if you have had a problem with fraud, maybe removing the freezes are not good.

[09Lexie]

@mousefai

Yes, it is possible for a lender to remove an inq with a FA on your CR