# Credit freeze vs. credit lock vs. fraud alert

All three sound alike, but they work differently. Here's how to choose.

## Credit freeze

- **Set by federal law** and free at Equifax, Experian, and TransUnion.
- **Blocks new lenders** from pulling your report until you lift it.
- **No effect on your credit score.**
- **Your rights are protected by law:** online or phone freezes take effect within one business day, and online or phone lifts within one hour.
- **Downside:** you manage it separately at each bureau, with three accounts.

## Credit lock

- **A product each bureau offers**, governed by that bureau's terms rather than the freeze law.
- Works like a freeze day to day: new lenders can't pull your report while it's locked.
- Some locks are free and some come bundled in paid subscriptions, and terms can change.
- **Downside:** fewer legal guarantees, and often an upsell attached.

## Fraud alert

- **Asks lenders to verify your identity** before opening credit, but doesn't stop them from pulling your report.
- Free. You contact one bureau and it tells the other two.
- An initial alert lasts one year; an extended alert for identity theft victims lasts seven years, according to the FTC.
- **Downside:** weaker than a freeze. Lenders are asked to check, not blocked.

## Which should you use?

For most people, **a freeze at all three bureaus** is the best protection: it's free, guaranteed by law, and the strongest block. A fraud alert can sit on top of a freeze if you've been a victim of identity theft.

The only real cost of freezing is the hassle of three accounts. That's the part CreditYeti handles.

## Sources

- [FTC: Credit freezes and fraud alerts](https://consumer.ftc.gov/articles/credit-freezes-and-fraud-alerts)
- [CFPB: Security freezes](https://www.consumerfinance.gov/ask-cfpb/what-does-it-mean-to-put-a-security-freeze-on-my-credit-report-en-1341/)