A credit freeze and a fraud alert are two free tools that help stop someone from opening credit in your name. Both are placed with the credit bureaus — not with RMO — and you can use one or both.
Credit freeze (also called a security freeze):
- Restricts access to your credit report, so new creditors generally cannot review it — which stops most new-account fraud.
- You place it with each of the three bureaus (Equifax, Experian, TransUnion) separately.
- When you want to apply for credit, you temporarily lift, or "thaw," the freeze.
- It is free to place, lift, and remove, and it does not affect your credit score.
Fraud alert:
- Adds a notice to your credit file asking lenders to take extra steps to verify your identity before granting credit.
- You place it with just one bureau, and that bureau notifies the other two.
- Types: an initial alert lasts one year; an extended alert lasts seven years for confirmed identity-theft victims; an active-duty alert lasts one year for deployed servicemembers.
Which should you use? A freeze is the stronger protection and is a good choice if you are not planning to apply for credit soon. A fraud alert is lighter and less hassle but offers less protection. Many people place a freeze and renew a fraud alert.
A freeze or alert protects your credit file. It does not replace watching your RMO accounts — also set up account alerts in MyRMO.