How is a fraud alert different from a credit freeze?
With a fraud alert, the credit issuer is notified of the possibility of fraud when a new credit account is applied for in your name. After receiving the alert, creditors then typically re-verify the identity of the person applying for credit before issuing the new credit card, line of credit, loan, etc. A fraud alert is a less restrictive option than a credit freeze; it does not block potential new credit. Also, unlike a credit freeze, an initial fraud alert may last only 90 days, depending on the policies of the credit reporting companies, and typically will need to be renewed every 90 days. With a credit freeze, on the other hand, creditors cannot even receive your information from a credit reporting company without your authorization as long as the freeze is in place. You will not be able to open new credit, unless you authorize the credit bureau to lift the freeze, and a freeze will not be removed without a written request from you.
