Equifax Credit Monitoring Review

June 18, 2011

In 2014, Equifax purchased TrustedID which quite simply offers better protection with its ID Essentials package then anything reviewed below. Its not only a more comprehensive service but its also cheaper by quite a bit. Read the review below if you like but we think you would better off reading about Equifax’s new service TrustedID.

The credit bureau, Equifax, offers a variety of credit monitoring services that can help protect you and your family from identity theft. Instead of just one blanket service, Equifax has a few different ones. This way you can cater your credit monitoring to your needs or the needs of your family.

Traditional credit monitoring services
With each of these services you will get daily alerts of any changes to your credit file that could signal an identity thief is making fraudulent transactions in your name. These changes include but are not limited to new accounts being opened or your contact information being changed.

Also, all of these plans give you the security of a $1,000,000 ID Theft Insurance policy. This policy protects you from many of the costs associated with restoring your credit and accounts if you do become the victim of identity theft. Once you start using the service, identity theft is less likely to occur. But in case it does happen you will be covered. There is no deductible on this policy. Insurance underwritten by member companies of American International Group, Inc.

Equifax Complete
This is the most in-depth credit watch program that Equifax offers. With 3-in-1 monitoring you will be alerted daily of changes not just to your Equifax credit file but also to your files at the other two major credit bureaus, Experian and TransUnion.

Equifax Complete includes one 3-in-1 Credit Report with 3 scores, with details about what’s impacting each of your scores. The score power gives you your score from each of the 3 main credit bureaus plus a simulator that allows you to predict your credit score based on actions you take to improve it. It also includes unlimited access to your Equifax credit report and score.

If you want they will even give you additional identity protection through their Automatic Fraud Alerts feature.

Equifax Credit Watch Gold with 3-in-1 Monitoring
This service is similar to the previous one except you do not have the credit score benefits.

Equifax Credit Watch Gold
Again, a similar service. With this plan, you receive daily monitoring of your Equifax credit file only as opposed to your files at all three credit bureaus. This plan is the most affordable and it provides an ok level of coverage since the credit bureaus will usually share information but we do not recommend it unless you have other credit protection plans in place.

Why? If a creditor granted credit in your name through a different bureau and the information did not propagate to Equifax you would be unaware of the theft and could face a horrible experience restoring your credit and good name. There is also a delay in time from when a change in your credit report at one bureau propagates to the others.

Customer Service
Equifax has 24/7 customer service but unfortunatley credit bureau are not known for quality customer service.