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The term "Credit Freeze" has been mis-used a lot, it's actually called a "Security Freeze", and people are not aware there is a big difference between placing a "Fraud Alert" or a "Security Freeze" on your credit report, but the two have very different uses and different purposes.

Click here to see the differences.

A security freeze is going to cost you money each time you request a lifting of the freeze for the purpose of obtaining credit, job interviews that require credit checks, or a situation that you want a new credit grantor to review your credit. A fraud alert merely requires the credit grantor to contact you first before offering a line of credit. There is no cost while a fraud alert is on your report, and the fraud alert expires after 90 days and must be renewed to be in effect, Learn more about fraud alert from Lifelock.

Fraud Alert vs. Security Freezes

A fraud alert is a special message on the report that a credit issuer receives when checking a consumer’s credit rating. It tells the credit issuer that there may be fraud involved in the account. A fraud alert can help protect you against identity theft. A fraud alert can also slow down your ability to get new credit. It should not stop you from using your existing credit cards or other accounts. A security freeze means that your credit file cannot be seen by potential creditors, insurance companies, or employers doing background checks – unless you give your consent. Most businesses will not open credit accounts without first checking a consumer’s credit history.

• Send by certified mail

  Include name, current and former address, Social Security Number, and date of birth.
  Enclose a copy of a current utility bill or other proof of current address.
• Pay by check, money order, or credit card (American Express, Visa, Master Card, or
  Discover only). Give name of credit card, account number, expiration date, and Card
  Identification Number (4-digit number on front of American Express card above
  account number or 3-digit number on back of other cards at end of account number).
  

• Send by regular or certified mail.

  Include first name, middle initial, last name, Jr., etc.
  Current home address, Social Security Number, and birth date.
• Pay by credit card. Give name of credit card, account number and expiration date.
  

• Send by certified mail. Include full name, with middle initial and Jr./Sr., etc.Include current address and home addresses for past two years, Social Security Number and birth date.Enclose a copy of a government identification card, such as a driver’s license, state ID
  card or military ID card, and one copy of a utility bill, proof of insurance or bank statement,
  etc., showing your name and current mailing address.
• Pay by check, money order or credit card. Give name of credit card, account number
  and expiration date.

2. Can I open new credit accounts if my files are frozen?

Yes. If you want to open a new credit account or get a new loan, you can lift the security freeze on your credit file. You can lift it for a period of time. Or you can lift it for a specific creditor. After you send your letter asking for the security freeze, each of the credit bureaus will send you a Personal Identification Number (PIN). You will also get instructions on how to lift the freeze. You can lift the security freeze by phone, using your PIN. The credit bureaus must lift your freeze within three days. The fee for lifting the freeze temporarily is $10 for a date-range lift and $12 for a lift for a specific creditor.

3. How long does it take for a security freeze to be in effect?

Credit bureaus must place the security freeze no later than five business days after receiving your written request.

4. How long does it take for a security freeze to be lifted?

Credit bureaus must lift a security freeze no later than three business days after receiving your request.

5. What will a creditor who requests my file see if it is frozen?

A creditor will see a message or a code indicating that the file is frozen.

6. Can a creditor get my credit score if my file is frozen?

No. A creditor who requests your file from one of the three credit bureaus will only get a message or a code indicating that the file is frozen.

7. Can I order my own credit report if my file is frozen?

Yes.

8. Can anyone see my credit file if it is frozen?

When you have a security freeze on your credit file, certain entities still have access to it. Your report can still be released to your existing creditors or to collection agencies acting on their behalf. They can use it to review or collect on your account. Other creditors may also use your information to make offers of credit-(unless you opt out of receiving such offers). See below for how to opt out of pre-approved credit offers. Government agencies may have access to your files for collecting child support payments or taxes or for investigating Medi-Cal fraud. Government agencies may also have access in response to a court or administrative order, a subpoena, or a search warrant.

9. Do I have to freeze my file with all three credit bureaus?

Yes. Different credit issuers may use different credit bureaus. If you want to stop your credit file from being viewed, you need to freeze it with Equifax, Experian and TransUnion.

10. Will a freeze lower my credit score? No. 11. Can an employer do a background check on me if I have a freeze on my credit file?

No. You would have to lift the security freeze to allow a background check or to apply for insurance, just as you would to apply for credit. The process for lifting the freeze is described above.

12. Does freezing my file mean that I won’t receive pre-approved credit offers?

No. You can stop the pre-approved credit offers by calling 888-5OPTOUT (888-567- 8688). Or you can do this online at www.optoutprescreen.com. This will stop most of the offers, from credit bureaus. It’s good for five years or you can make it permanent.

13. Does my spouse’s file have to be frozen, too?

Yes. Both spouses have to freeze their separate credit files, via separate letters requesting the security freeze, in order to get the benefit. That means the total cost for freezing is $10 x 3 credit bureaus x 2 people = $60.

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The following are more tips that you will find helpful:

Sample Freeze Letter to Equifax

Date:

Equifax Security Freeze
P.O. Box 105788
Atlanta, GA 30348

Dear Equifax:

I would like to place a security freeze on my credit file.

My name is:
My current address is:
My former address was:
My Social Security number is:
My date of birth is:
(Mention which situation you fall in below:)I am an identity theft victim and a copy of my police report or DMV
investigative report of identity theft is enclosed.
OR
I will pay the fee of $10 for placing the freeze by:
Yours truly,

Sample Freeze Letter to TransUnion

Date:

TransUnion Security Freeze
P.O. Box 6790
Fullerton, CA 92834-6790

Dear TransUnion:

I would like to place a security freeze on my credit file.

My name is:
My current address is:
My Social Security number is:
My date of birth is:
(Mention which situation you fall in below:)I am an identity theft victim and a copy of my police report or DMV
investigative report of identity theft is enclosed.
OR
I will pay the fee of $10 for placing the freeze by:
Yours truly,

Sample Freeze Letter to Experian

Date:

Experian Security Freeze
P.O. Box 9554
Allen, TX 75013

Dear Experian:
I would like to place a security freeze on my credit file.

My name is:
My current address is:
Below is a list of my addresses for the past two years:
My Social Security number is:
My date of birth is:
As proof of my residence, I am enclosing the following two items:
(Mention which situation you fall in below:)
I am an identity theft victim and a copy of my police report or DMV
investigative report of identity theft is enclosed.
OR
I will pay the fee of $10 for placing the freeze by:
Yours truly,

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