Equifax Credit monitoring: Fraud Alert vs Credit Lock

What is the difference between locking my Equifax credit file and

placing a fraud alert on my Equifax credit file?

The two key differences between a fraud alert and an Equifax credit file

lock are in: (1) who can access your Equifax credit report, and (2) whether

your request will be referred to the other two nationwide consumer

reporting agencies.

When you lock your Equifax credit report (as part of your eligible Equifax

monitoring product), lenders (with some exceptions) cannot access your

Equifax credit file unless you grant them permission by temporarily

unlocking your file, or creating a PIN for their access. However, you may

only lock your Equifax credit file - it does not lock your credit file at the other

two nationwide consumer reporting agencies. Also, when you lock your

Equifax credit file, you may only restrict access to new inquiries. You

cannot restrict access to lenders in which you already have a relationship.

With a fraud alert on your Equifax credit file, lenders (or other requestors)

can access your credit file but are notified when they do that they should

take steps to verify your identity, such as by contacting you directly, before

granting new or additional credit. When you place a fraud alert on your

Equifax credit report, Equifax will refer your fraud alert request to Experian

and TransUnion so that they will also place a fraud alert on their copies of

your credit file.