What is the key difference between a credit freeze and a fraud alert?

A credit freeze (also called a security freeze) prevents creditors from pulling your credit report entirely, which makes it nearly impossible for a thief to open new accounts in your name. A fraud alert, by contrast, leaves your report accessible but adds a notation asking creditors to verify your identity before extending credit. Since 2018, placing a freeze is free at all three major bureaus, and an extended fraud alert can be placed for seven years by victims of identity theft.