A fraud alert can also slow down your ability to get new credit. A fraud alert can help protect you against identity theft. It tells the credit issuer that there may be fraud involved in the account. What is the difference between a fraud alert and a freeze?Ī fraud alert is a special message on the report that a credit issuer receives when checking a consumer's credit rating. The fee for lifting the freeze temporarily is no more than $5 for a date-range lift and no more than $5 for a lift for a specific creditor.ģ. The credit reporting agencies must lift your freeze within three business days. You can lift the freeze by overnight mail or secure electronic mail, using your PIN. You will also get instructions on how to lift the freeze. After you send your letter asking for the freeze, each of the credit reporting agencies will send you a Personal Identification Number (PIN). You can lift it for a period of time or you can lift it for a specific creditor. If you want to open a new credit account or get a new loan, you can lift the freeze on your credit file. Can I open new credit accounts if my files are frozen?
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