 TITLE: What Is the Difference Between a Fraud Alert and a Credit Freeze? CONTENT: Which Option Is Right for Me?\n-----------------------------\nDeciding whether to set up a fraud alert or credit freeze depends on your situation:\n*   **If you're a victim of credit fraud or identity theft**, deciding between an extended fraud alert and a credit freeze is mainly a matter of how often you anticipate needing to authorize access to your credit files in the months and years ahead.\n*   **If you're early in your career and foresee applying for credit**—including car loans, mortgages or credit cards—in the next few years (or seeking an apartment rental, rental cars, or new utility or cellphone accounts), freezing your credit files may prove unwieldy. You may even find yourself lifting the freezes so often that they are practically ineffective. An extended fraud alert will likely be more useful for you.\n*   **If you're late in your career or in retirement**, and don't anticipate needing any new credit cards or loans, credit freezes can provide peace of mind in the knowledge that no one can touch your credit files. Keep in mind that you may need to thaw your credit files occasionally for non-lenders who conduct credit checks, such as cellphone, cable or internet providers.\n*   **If your minor children have credit files**, freezing those credit files on their behalf is a good precaution. Underage children do not ordinarily have credit files, but will if you've made a minor a cosigner on a credit card (a good strategy for helping them get a headstart on building a credit history), or if your children have credit files as a result of identity theft. You can thaw the files when the children come of age and are ready to begin seeking credit on their own.\n*   **If you're concerned your personal information may have been compromised** but haven't seen evidence of a crime you can report to law enforcement, consider a temporary fraud alert. If you're worried that your personal information—credit card and bank account numbers, account passwords or Social Security number—may have been exposed to scammers or in a security breach, you can add a fraud alert to all your files with one quick request to any credit bureau. You can remove it anytime you like, renew it easily every year if you prefer or, if there's no indication of any criminal meddling after a year, just let it expire and return your credit files to normal accessibility.\nFraud alerts and credit freezes are valuable tools for combating identity theft and credit fraud. It's good to familiarize yourself with both and be ready to use them whenever they meet your needs. END