Equifax is one of the three major credit bureaus in the US, along with Experian and TransUnion. They collect and store information about your credit history, such as your loans, debts, payments, and more. This information is used to calculate your credit score, which affects your ability to get loans, mortgages, credit cards, and other financial products.
But what if someone gets access to your credit information without your permission? What if they use it to open new accounts, take out loans, or commit identity theft? This is where Equifax Alert comes in.
Equifax Alert is a service that monitors your credit report and alerts you of any changes or suspicious activities. It also provides you with identity theft protection, fraud resolution, and credit score access. Sounds great, right?
But is Equifax Alert scam or legit? Is it worth paying for? How does it compare to other credit monitoring services? In this article, we will answer these questions and more, based on our research and experience. Let’s get started!
What is Equifax Alert and How Does It Work?
Equifax Alert is a subscription-based service that offers two plans: Basic and Premium. The Basic plan costs $9.99 per month and includes the following features:
- Credit Report Monitoring: You get daily access to your Equifax credit report and alerts of any changes or inquiries. You can also lock and unlock your Equifax credit report anytime, to prevent unauthorized access.
- Identity Theft Protection: You get up to $25,000 in identity theft insurance, which covers expenses such as legal fees, lost wages, and more. You also get access to a dedicated fraud resolution team, who can help you restore your identity in case of theft.
- Credit Score Access: You get monthly access to your Equifax credit score, which is based on the VantageScore 3.0 model. You also get a credit score simulator, which shows you how different actions can affect your score.
The Premium plan costs $19.99 per month and includes everything in the Basic plan, plus:
- 3-Bureau Credit Report Monitoring: You get daily access to your credit reports from all three bureaus (Equifax, Experian, and TransUnion) and alerts of any changes or inquiries. You can also lock and unlock your credit reports from all three bureaus anytime, to prevent unauthorized access.
- 3-Bureau Credit Score Access: You get monthly access to your credit scores from all three bureaus, which are based on the VantageScore 3.0 model. You also get a credit score tracker, which shows you how your scores change over time and compares them to the national average.
- Dark Web Monitoring: You get alerts of any potential exposure of your personal information on the dark web, such as your email, phone number, social security number, and more. You also get tips on how to protect your information online.
To use Equifax Alert, you need to create an account on their website and provide some personal information, such as your name, address, date of birth, and social security number. You also need to verify your identity by answering some security questions. After that, you can choose your plan and enter your payment details. You can cancel your subscription anytime, without any penalty.
Is Equifax Alert Scam or Legit?
Equifax Alert is a legit service that is offered by Equifax, one of the most reputable and trusted credit bureaus in the US. Equifax has been in business since 1899 and has over 800 million customers worldwide. They are regulated by the Federal Trade Commission (FTC) and the Consumer Financial Protection Bureau (CFPB), and comply with the Fair Credit Reporting Act (FCRA) and the Gramm-Leach-Bliley Act (GLBA).
Equifax Alert is not a scam, but it is not a perfect service either. It has some pros and cons that you should consider before signing up. Here are some of them:
- Comprehensive Credit Monitoring: Equifax Alert monitors your credit reports from all three bureaus and alerts you of any changes or inquiries. This can help you detect and prevent identity theft, fraud, and errors. You can also lock and unlock your credit reports anytime, to control who can access them.
- Identity Theft Protection: Equifax Alert provides you with identity theft insurance, fraud resolution, and dark web monitoring. These features can help you recover from identity theft, fraud, and exposure of your personal information online. You also get access to a dedicated fraud resolution team, who can assist you with the process.
- Credit Score Access: Equifax Alert gives you access to your credit scores from all three bureaus, which are based on the VantageScore 3.0 model. This model is used by many lenders and creditors, so it can give you a good idea of your creditworthiness. You also get a credit score simulator and tracker, which can help you improve your credit score over time.
- Costly: Equifax Alert is not a cheap service. The Basic plan costs $9.99 per month and the Premium plan costs $19.99 per month. That adds up to $119.88 and $239.88 per year, respectively. There are other credit monitoring services that offer similar or better features for less money, such as Credit Karma, Credit Sesame, and Identity Guard.
- Limited Customer Service: Equifax Alert has a limited customer service. You can only contact them by phone or email, and their hours are not very convenient. They are available from Monday to Friday, from 8 a.m. to 12 a.m. ET, and from Saturday to Sunday, from 9 a.m. to 6 p.m. ET. They also have a lot of negative reviews and complaints online, mainly about billing issues, cancellation problems, and poor communication.
- Data Breach History: Equifax Alert is offered by Equifax, which suffered a massive data breach in 2017. The breach exposed the personal information of about 147 million people, including their names, addresses, social security numbers, and more. The breach also affected some Equifax Alert customers, who had their credit card information stolen. Equifax has faced a lot of lawsuits, investigations, and fines for the breach, and their reputation has been damaged.
Equifax Alert is a legit service that offers credit monitoring, identity theft protection, and credit score access. It has some pros, such as comprehensive credit monitoring, identity theft protection, and credit score access. It also has some cons, such as costly, limited customer service, and data breach history.
Ultimately, the decision to use Equifax Alert depends on your personal preferences, needs, and budget. If you are looking for a reliable and trusted credit monitoring service, and you don’t mind paying a premium price, then Equifax Alert might be a good option for you. However, if you are looking for a cheaper or better alternative, then you might want to check out other credit monitoring services, such as Credit Karma, Credit Sesame, or Identity Guard.
Here are some frequently asked questions about Equifax Alert:
Q: How do I cancel Equifax Alert?
- A: You can cancel Equifax Alert anytime, without any penalty. To cancel, you need to call their customer service at 1-888-548-7878 and follow the instructions. You will receive a confirmation email after your cancellation. You can also cancel by logging into your account and clicking on “Cancel Subscription” under “My Account”.
Q: How do I get a refund from Equifax Alert?
- A: Equifax Alert does not offer refunds, unless there is a billing error or a technical issue. If you think you are eligible for a refund, you need to contact their customer service at 1-888-548-7878 and explain your situation. They will review your case and decide if you qualify for a refund or not.
Q: How do I contact Equifax Alert?
- A: You can contact Equifax Alert by phone or email. Their phone number is 1-888-548-7878 and their email address is [email protected]. Their hours are from Monday to Friday, from 8 a.m. to 12 a.m. ET, and from Saturday to Sunday, from 9 a.m. to 6 p.m. ET. You can also visit their website at https://www.equifax.com/personal/products/credit/monitoring-alerts/ and click on “Contact Us” for more information.