What's the difference between a freeze and an alert?

General
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what’s the difference between a freeze and an alert?

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What’s the difference between a freeze and an alert?

Answer:

A freeze and an alert are two different types of warnings that can appear on your electronic devices or credit reports. Here’s what you need to know about each of them:

Credit Freeze: A credit freeze, also known as a security freeze, restricts access to your credit report, making it more difficult for identity thieves to open accounts in your name. When you place a freeze on your credit reports, credit reporting agencies won’t release your information to lenders without your permission. If a thief tries to apply for credit using your stolen information, the lender will be unable to pull your credit report, which should prevent them from opening a new account in your name. A credit freeze is a powerful tool to protect your credit and your identity from fraudsters, but it also makes it difficult for others (like potential employers) to check your credit reports.

Credit Alert: A credit alert, also known as an initial fraud alert, is a message that appears on your credit report to alert lenders that your identity may have been compromised. Placing a fraud alert on your credit reports requires lenders to verify your identity before extending credit in your name. An initial fraud alert lasts for 90 days, but you can renew it as needed. Unlike a credit freeze, you don’t need to contact each credit bureau separately to place an alert - you only need to contact one bureau and it will notify the others.

Overall, a credit freeze is a more comprehensive form of protection than a fraud alert. However, a fraud alert is easier to place and lift, and it is usually sufficient if you don’t believe your personal information has been compromised.

It’s important to note that credit freezes and alerts are not the same as credit monitoring. Credit monitoring is a paid service that monitors your credit report and alerts you of any changes or suspicious activity. Monitoring is a good complement to a freeze or alert but it’s not a replacement for them.