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guest - June 9th, 2009 11:18 PM

I realize by placing a fraud alert on my credit report will protect me from unauthorized credit requests. Is there are bad side to fraud alerts? [br]

guest - June 9th, 2009 11:34 PM

Just as fraud alerts can help you, fraud alerts can't prevent every type of identity theft from occurring. Fraud alerts will not protect you from a thief using your existing cards or any other accounts you may have. Fraud alerts will also not help prevent thieves from opening accounts in your name that do not require a credit check. Plus, if you already have identity theft occurring, fraud alerts won't stop that. [br][br]Despite the negatives, your best protection against identity theft in the future is to have fraud alerts added to your credit report. [br][br]

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Fraud causes hundreds of millions of dollars in damage each year and affects just as many people.

Credit card fraud is the most common type of fraud to occur each year and cost its victims up to $500 million dollars in damages each year. Despite the frequent occurrence of this type of fraud, millions of credit card users are still unaware of how to protect themselves against this type of thievery.

No one is completely safe from being defrauded. But, by learning how to protect against fraud, you will be better equipped to prevent yourself from falling into a scam that could cost you everything. Taking the time to protect yourself can help to keep you safe.