How long does a fraud alert remain on a consumer's credit report?

A fraud alert is a tool used to protect consumers from identity theft by signaling to potential creditors that they should take extra steps to verify the identity of the applicant before extending credit. According to the Fair Credit Reporting Act (FCRA), a fraud alert typically lasts for 90 days. During this period, creditors must take extra care to authenticate the identity of anyone applying for credit using the consumer’s information.

Consumers have the option to extend the fraud alert for an additional 90 days, making it possible for the alert to last longer if necessary. This temporary nature of the fraud alert allows consumers to signal to creditors their concern about identity theft while also providing them the ability to reassess their situation after the alert period ends.

The option indicating that a fraud alert remains on a consumer's credit report indefinitely until removed is incorrect as fraud alerts are meant to be temporary. The choice stating it lasts for one year refers to credit freezes rather than fraud alerts. Finally, the option suggesting that a fraud alert cannot be placed on the report at all is inaccurate, as fraud alerts are a recognized consumer protection measure under FCRA regulations.