Equifax is a major credit bureau in the United States that provides credit scores and reports, as well as credit monitoring and identity theft protection services, at a reasonable price.
Before you decide to sign up for an account, you should compare and contrast several companies to see which one best suits your needs. Continue reading below for a complete review over Equifax Credit Monitoring.
Equifax Credit Monitoring Features
Equifax provides users with helpful online tools to help protect yourself from identity theft, such as:
Credit Freezes
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. It’s good to freeze your credit, even when you feel secure, just in case. When you need to, unfreeze your credit report easily with a click of a button.
Fraud Alerts
Equifax offers fraud alerts, which 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.
Fraud alerts an be set up through your phone, email or online, and they last for up to a year.
Other Features
- Internet monitoring
- $1 million in identity theft insurance
- $1 million in stolen funds replacement
(Click the link to learn more at Equifax)
Equifax Planning & Pricing
Equifax offers two credit monitoring plans: Complete Premier and Complete Family. Both cost $19.95 every month. Here’s a run down of the two plans:
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 |
Webscan | x | x |
Automatic fraud alerts | x | x |
Equifax credit report lock | x | x |
Equifax blocked inquiry alerts | x | x |
Identity restoration | x | x |
Lost wallet assistance | x | x |
Up to $1M identity theft insurance | x | x |
Up to $1M stolen funds replacement | x | x |
Additional adult | 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. In 2017, the company experienced a devastating data breach 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. In addition to the breach, 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.
Since the settlement, Equifax continues to suffer 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.
Bottom Line
Equifax’s reputation doesn’t seem to be the best. 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.
Alternatively, you can check out our reviews on TransUnion and Experian credit monitoring services.
There are so many ways to increase your credit score! For more ways to save more, check out our post on how save money online and bank guides here on HMB!
(Click the link to learn more at Equifax)
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