Equifax Identify Theft Review – Pros & Cons
Equifax ID Patrol Pricing
Equifax ID Patrol offers a single subscription plan for customers, which costs $16.95 per month. This includes all of Equifax’s identity theft protection tools, including their monitoring utilities, credit reports, and the company’s instant alert systems. Overall, the pricing is well within the industry average and offers excellent value for a monthly subscription.
Equifax Credit Monitoring
Equifax ID Patrol allows users to input several ID numbers, passport numbers, emails, and bank accounts into their monitoring system. The system then scans the internet, including known suspicious websites and other online black markets where information can be sold, to determine whether a user’s information is safe. Additionally, the company offer 3-bureau monitoring, scanning all major credit reports to ensure that no suspicious activity or erroneous entries are added to the report.
Equifax Fraud Alert
Equifax ID Patrol offers three major types of alerts, which are customizable depending on a user’s needs. The first are financial alerts, which let users know instantly whenever their credit cards or bank accounts have been manipulated or display suspicious activity. The second are lender fraud alerts, which require merchants and lenders to verify customers’ identities directly before extending credit or approving for a loan. Finally, Equifax ID Patrol alerts their customers any time there is suspicious activity on their credit reports.
Equifax Replacement Services
The company’s support service includes a dedicated case worker who helps guide users through the complicated process of fraud resolution and restoration. One excellent feature offered by the company that many competitors cannot match is the ability for customers to lock their credit reports if they detect or suspect potential fraud. Moreover, the subscribers are eligible for up to $1 million in identity theft insurance to cover the costs and expenses related to repairing one’s identity in the event it has been compromised.
Equifax Credit Reports
One of the biggest ancillary benefits provided by Equifax ID Patrol is regular access to credit reports. The company offers 3-bureau monitoring as part of its standard service, and it provides customers with a yearly 3-bureau credit report. Moreover, subscribers gain access to Equifax’s outstanding educational resources, which include information regarding identity theft as well as personal finance topics covering credit scores and reports, budgeting, and more.
Equifax Mobile Apps
Equifax does not offer dedicated mobile applications for either Android or iOS devices, though the company’s website is mobile web-friendly.
Equifax Customer Support
For customers who are victims of fraud, the company provides a dedicated case worker who is available at all times. For other support needs, customers can usually find answers through Equifax’s educational center and the FAQ section on their site. In addition, subscribers have access to a special member center, and any credit report disputes can be called in or sent in via traditional post.
Why Choose Equifax ID Patrol as your Identity Theft Protection Service
Equifax ID Patrol is a good fit for customers looking for a credit-oriented identity theft protection suite. With the backing of one of the three major credit bureaus in the US, the service offers customers direct access to their reports and scores, letting them instantly know when there are changes to their credit.
Equifax Breach 2017 Update
The Equifax security breach of 2017 is one of the worst in U.S. history. Hackers broke into the credit bureau’s database and gained access to sensitive information of over 100 million Americans. This information included credit card details and social security numbers. As of the most recent announcement released October 2, 2017, the number of victims whose data was actually compromised has risen from 143 million Americans to about 145 million.
The attack also affected customers outside of the U.S. as well, though not as many. Numbers from the EU are still being tabulated, but under 10,000 Canadian customers have been victimized at the time this article was written.
The attack was publicized in September, but is noted to have occurred sometime between March and July. The delay in announcement caused many to question the company’s trustworthiness, especially because some company executives sold their stocks just a day before the hack was made public. In the aftermath, former Equifax CEO Richard Smith resigned and was replaced by interim CEO Paulino do Rego Barros Jr. Other high-powered executives also resigned, retired, or were pushed out of the company.
But no matter the consequences for Equifax, the most important person in the equation is you. Data breaches are scary. When a predator has your financial information, your family’s privacy and security is potentially at risk, not to mention your future. You need to take steps to protect yourself and your family whether you are aware you were a victim or not.
The first step is to find out if you were a victim of the breach. Go to the Equifax website and give them the information they need to tell you your status. You should also get a credit report from Equifax, Transunion, and Experian. Make sure all of them come back clean. If you’ve been compromised, make sure the inconsistencies are at least the same across all three reports. Opening the three accounts prevents hackers from doing so in your name, which further confuses recovery. Investing in identity theft protection is also a strong preventative step. Whether or not you were affected, you may want to freeze your credit or put a fraud alert on your account.
If you were affected by the attack, the preventative steps become necessary ones. Immediately freeze and put fraud alerts on your account. Order and examine all of your credit reports thoroughly. Experian offers a free one.
The Experian data breach was a complete mess between all the victims whose data was compromised and the signs of insider trading. But the good news is cleanup is beginning. Experian’s new executives have customers’ best interests in mind. The company is offering comprehensive solutions to the beach, and are receiving help from the IRS.
We understand your nerves, but believe Equifax ID Patrol is still one of the best options for monitoring your credit and identity. Equifax is still one of the top three credit reporting services in the country. They want to make things right for customers, and owe them that. They also offer family plans so you can protect everyone you love. Take all of the preventative steps we mentioned above, and then look into Equifax ID Patrol. Data breeches are bad, but in the aftermath companies are more responsible than ever for protecting their customers.
Backed by Equifax, one of the largest US credit bureaus
Unlimited access to Equifax credit reports
Around-the-clock support from identity theft specialists
Focuses almost exclusively on credit monitoring
Does not scan public and court records for use of customers’ identities
No free trial available