The report claims the right-back is being eyed by Palace boss Roy Hodgson as an alternative to Joel Ward, who may leave Selhurst Park at the end of his contract this summer.
And Fredericks, too, could be available for nothing, having failed to commit to Slavisa Jokanovic's side.
The uncertainty over Fulham's fate is a likely factor in the delay, with the Cottagers needing to better Cardiff's result on Sunday to achieve automatic promotion.
And, according to the Sun, Crystal Palace are among the clubs ready to pounce if the 25-year-old decides not to sign up - despite the recent emergence of Aaron Wan-Bissaka in Fredericks' position.
However, moves to West Ham or Arsenal could also appeal to the former Tottenham Hotspur player, who has set up 10 league goals this season.
Should Fredericks choose Crystal Palace, West Ham, Arsenal, Fulham or other?