Though a fraud alert and credit freeze both try to prevent identity theft and fraud, they are two different protections.
Fraud alerts require lenders and creditors to verify your identity before opening a new line of credit in your name, while a credit freeze means no one can access your credit reports until the freeze is lifted.
Both are free. A fraud alert expires automatically unless you choose to renew it, while a credit freeze lasts until you remove it.
A credit freeze provides more protection since lenders can’t access your report unless you authorize it. Should you wish to open a new account, you can unfreeze your credit. Doing so only takes a few minutes, as long as you have your credit bureau password. A credit freeze gives you ultimate control over who can see your credit.