Fraud Alert vs. Credit Freeze -- A Blow by Blow Comparison

Fraud Alert vs. Credit Freeze

To continue in my discussion about a Credit Freeze, I thought it would be beneficial to explain the difference between a Fraud Alert and a Credit Freeze.

Unfortunately, most people think Fraud Alerts and a Credit Freeze are the same thing, but they are not. 
They do share 2 common factors:

• Neither prevents your current creditors from viewing your credit report to see how you are handling your debt.
• Neither prevents or limits you from using your open credit accounts.

Ok, so they have similarities, but how do they differ? 
Here is a quick reference chart on some of the major differences


Obviously the credit bureaus would rather you place a Fraud Alert instead of a Credit Freeze, or they would make it easier.  The bureaus are in the business of collecting and selling credit information about you; anything that prevents that costs them $$$.

So in conclusion, a Fraud Alert may give your new Creditors a Standing 8 count, but a Credit Freeze is a TKO.