Equifax is a major credit bureau in the United States, providing credit scores and reports, as well as credit monitoring and identity theft protection services, at a reasonable price. However, they don’t have the best reputation. Keep reading for everything you need to know about Equifax.
Equifax Credit Monitoring Features
Equifax provides helpful online tools to help protect yourself from identity theft, such as:
Freezing your credit prevents unauthorized access to your credit report, keeping your credit history private and preventing identity thieves from opening new credit cards or loans in your name. Even if you feel that your identity is secure, it’s good practice to freeze your credit just in case. When you need to, unfreeze your credit report easily with a click of a button.
Fraud alerts allow creditors to access your credit report, but they have to confirm your identity before opening new or additional credit in your name. This way, you won’t have to freeze and unfreeze your credit, but there’s still a layer of security should someone try to steal your identity.
You can set up fraud alerts to your phone, email or online, and they last for up to a year.
- Internet monitoring
- $1 million in identity theft insurance
- $1 million in stolen funds replacement
Equifax Credit Monitoring Plans & Pricing
Equifax offers two credit monitoring plans: Complete Premier and Complete Family. Both cost $19.95 every month.
|COMPLETE PREMIER||COMPLETE FAMILY|
|3-bureau credit scores||Annually||Annually|
|3-bureau credit report||Annually||Annually|
|1-bureau credit score||Daily||Daily|
|Equifax credit report||Daily||Daily|
|3-bureau credit monitoring||X||X|
|1-bureau credit score monitoring||X||X|
|Automatic fraud alerts||X||X|
|Equifax credit report lock||X||X|
|Equifax blocked inquiry alerts||X||X|
|Lost wallet assistance||X||X|
|Up to $1M identity theft insurance||X||X|
|Up to $1M stolen funds replacement||X||X|
|Equifax credit monitoring for up to 4 children||X|
Equifax Credit Monitoring Limitations
Equifax does not have the best reputation, and for valid reasons. The company experienced a devastating data breach in 2017 that affected over 148 million people. Credit card, Social Security, and even driver’s license information were stolen, leaving their customers wide open to identity theft. Not only that, they waited six weeks before informing their customers and did not offer to reimburse any of the victims.
As part of a settlement filed in July 2019, Equifax agreed to update their security protocol and increase customer information protection measures to prevent future breaches from occurring.
To date, Equifax still suffers from poor customer support. Reviewers say phone wait times are extremely long, filed disputes are rarely resolved, and support is not able to help with their issues.
Of the three credit monitoring agencies, Equifax has the worst reputation. If you’re willing to overlook that, their products offer decent value. You’ll benefit from annual access to all three credit scores and reports, credit monitoring, credit freezes, fraud alerts and up to $1 million in identity theft insurance and stolen funds reimbursement.