Equifax

Equifax In Depth

Sections on this page
  1. Equifax’s Products and Services: Consumer
  2. Equifax’s Products and Services: Commercial
  3. Equifax Fraud Alerts
  4. Equifax Credit Freezes

Equifax is a global data, analytics, and technology company headquartered in Atlanta, Georgia. In 1899, the company was formed by a group of tailors from Great Britain who joined forces to share information about consumers who didn’t pay their debts. It became a publicly held corporation in 1965. Today, the company operates or has investments in 24 countries throughout North America, Central and South America, Europe, and the Asia Pacific region.

Equifax is most well-known as one of the top three credit reporting agencies (along with Experian and TransUnion). Equifax uses items from consumers’ credit accounts to create credit reports, which lenders and creditors then use to determine whether or not to extend a loan or credit.

Equifax’s Products and Services: Consumer

Equifax offers two tiers of credit monitoring and identity protection services geared toward consumers: Value and Premium. These services range from basic credit report access to more detailed and intensive credit monitoring and identity theft prevention tools.

Value Products

Value products are designed for cost-conscious consumers who need regular or occasional access to their credit score and who might need to keep tabs on their accounts.

Pricing as of September 30, 2021.

Value Product Cost Per Month Features
Lock and Alert Free Easily lock and unlock your Equifax credit report.
Equifax Core Credit Free Receive your credit score and report every month.
Equifax Credit Monitor $4.95 Access your VantageScore credit score daily and see trends over time. Set up alerts for score changes and lock your credit report as needed. 
Equifax Complete $9.95 Access your credit report daily and get alerts for credit score changes. $500,000 in identity theft insurance and get a dedicated identity theft resolution specialist to help you recover from identity theft.

Premium Products

If you’re looking to gain access to credit reports from all three bureaus at once or need some more robust identity theft protection tools, Equifax’s Premium line could be the right choice. You can choose from the following options. 

Pricing as of September 30, 2021.

Premium Product Cost Per Month Features
Equifax Complete Premier $19.95
  • Credit monitoring from all three bureaus
  • Annual access to credit reports and scores
  • Daily access to your Equifax report and score
  • Premium identity theft protection tools (e.g., automatic fraud alerts, credit report lock)
  • Up to $1 million in identity theft insurance
  • Lost wallet assistance
Score Watch $14.95
  • Access your FICO score four times a year
  • Regular credit score monitoring and alerts
  • Automatic fraud alerts
  • Lock your Equifax credit report
  • Alerts when inquiries are blocked
  • Up to $500,000 for eligible expenses due to identity theft
Equifax Complete Family Plan $19.95
  • Same features as Equifax Complete Premier 
  • All features offered to an additional adult
  • Credit monitoring for up to four children

 

Equifax’s Products and Services: Commercial

Like its credit bureau counterparts, Equifax also delivers services, especially for businesses in a wide range of industries. As a cloud-native global data and analytics technology company, Equifax aims to help companies create data-driven solutions that drive revenue and deliver better customer experiences.

Equifax’s extensive menu of commercial products and services include the following:

  • Customer acquisition
  • Credit data reports for both commercial and consumer customers
  • Credit monitoring and identity protection for businesses
  • Solutions for growing existing business
  • Management of regulatory compliance
  • Management of workforce from talent acquisition through the entire employment cycle
  • Mitigation of risk
  • Fraud prevention
  • Debt recovery services
  • Third-party verification services to ensure the information provided during the course of business is accurate

Equifax Fraud Alerts

 Equifax allows you to place a fraud alert on your account if you have reason to suspect or anticipate fraudulent activity. That means lenders and creditors will need to take additional steps to verify your identity if you (or someone else) attempts to request credit. Generally, the lender or creditor will try to contact you personally to confirm that you’ve made the credit request.

Equifax offers two types of fraud alerts, both of which are free: initial and extended. An initial fraud alert is free and lasts for one year, while an extended fraud alert lasts for seven years and removes you from credit card and insurance offers for five years. To qualify for an extended alert, you’ll need to provide an FTC Identity Theft report or police report.

Equifax Credit Freezes

Equifax also offers you the ability to freeze your credit for free, which will prevent lenders and creditors from accessing your Equifax credit report when someone attempts to open credit in your name. The only catch is that you will not be able to apply for credit while the credit freeze is in place. You can temporarily lift the freeze if you want to apply for credit and then re-freeze your credit report.

If you want to freeze credit reports from the other two bureaus, you must contact Experian and TransUnion directly.

Unlike the Lock and Alert option that Equifax offers for free, credit freezes are federally regulated. That means you’ll have to apply for and wait for the freeze to reflect on your account, which can take up to 24 hours.

Scams Impacting Equifax

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How to Identify a Fake Email from Your Bank & Protect Yourself

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Red Flags of Fake Venmo Email Scams Promising A Lot of Money

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Fake Bitcoin Exchange Scams: Top Tips to Avoid Falling Victim
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Red Flags of Fake PayPal Emails About Your eBay Transactions
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Fake PayPal emails regarding your eBay transactions are sent by scammers to fake payments and steal your information.

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How to Avoid PayPal Shipping Label Scams: Top Tips
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PayPal Shipping Scams: Tips to Protect Your Money and Items
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Free PayPal Money Scams: Don't Believe the Hype, It's a Scam
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Free PayPal Money Scams: Don't Believe the Hype, It's a Scam

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Guides To Protect Against Banking & Finance Scams

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How to Place an Equifax Fraud Alert and Protect Your Credit
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How to Place an Equifax Fraud Alert and Protect Your Credit

Placing a fraud alert with Equifax can be done in a matter of minutes and can keep you safe from identity theft.

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5 Things to Do After a Data Breach to Protect Yourself
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When a company is the victim of a data breach, it's completely out of your control. However, there are steps you can take afterward to protect your information and money.

News About Banking & Finance Scams

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N.J. Man Pleads Guilty to SIM Swapping Conspiracy Stealing Over $500k From Victims
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FBI Warns Fake COVID Vaccine Cards Could Lead to Prison Time
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Taking a chance on a fake COVID-19 vaccination card seems like an easy way to get around requirements, but think again before you land yourself in prison.

Beware of this New Scam Involving A Fake Call from CBP
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Sometimes it just safer not to pick up calls from unknown phone numbers.

Nike Teams Up with U.S. Customs to Stop Counterfeiters
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Nike is taking a stand against counterfeiters and stopping fake products before they hit U.S. soil.