What's the difference between a freeze and an alert? With a credit freeze, you can't apply for credit, and it's the same for a fraud alert With a credit freeze, you can apply for new credit but you can't use your credit cards, while with a fraud alert, you can With a credit freeze, you can't apply for any new credit, while with a fraud alert, you can With a credit freeze, you can apply for new credit, while with a fraud alert, you can't

A credit freeze is like locking away your credit report so that lenders can't access it, preventing anyone from opening new accounts in your name. You'll need to lift the freeze temporarily if you want to apply for credit yourself. In contrast, a fraud alert is a warning signal for creditors to take extra steps to verify your identity before approving new credit applications. It allows you to still apply for new credit while adding a layer of security to your credit report. Mistakes often happen when people think a fraud alert offers the same level of protection as a freeze—it doesn't! A fraud alert alerts creditors, but doesn't block access to your report. Many consumers forget to say "yes" to the extra verification steps, thinking they've done enough by placing the alert. Another common mistake is not managing the freeze properly; forgetting to lift it when applying for new credit can cause delays and frustration!