July 16, 2020
Equifax today announced the launch of two products that offer consumers competitively-priced options for monitoring their Equifax credit reports and helping protect against identity theft. Equifax Credit Monitor™ and Equifax Complete™ include monitoring features, Equifax credit report lock capabilities, and identity theft protection features. Equifax is currently the only bureau offering these unique sets of bundled features at these value price points.
Equifax Credit Monitor is available now at $4.95 per month, and provides consumers the ability to lock and unlock their Equifax credit file. In addition, this new product offers daily access to Equifax credit report and VantageScore credit score 3.0 based on Equifax data, as well as Equifax credit report monitoring with alerts.
Equifax Complete is designed for consumers looking for a product that offers a greater mix of credit monitoring and identity theft protection features, and is available at $9.95 per month. Both products are available to consumers through myEquifax, an online portal that allows easy and convenient access to consumer services with Equifax under a single sign on experience.
"We developed these solutions to give consumers easy, affordable and accessible tools for monitoring their credit, regardless of where they are on their respective financial journeys," said Beverly Anderson, President of Global Consumer Solutions at Equifax. "While it is imperative to be credit vigilant, we understand that consumers also need to watch their expenses."
According to Security.org, nearly one in four Americans has been the victim of identity theft and the COVID-19 crisis has increased that risk. From January 1 to July 6, the FTC received more than 62,000 COVID-19 related fraud reports with consumers claiming a total loss of more than $78.25 million. In a recent Consumer Credit Confidence survey conducted by Equifax, 68-percent of those surveyed said they were concerned about how COVID-19 would impact them financially in the next six months.
"We know people want and need solutions during normal and uncertain times," Anderson added. "Creating new ways for people to save money and protect what they have, is one of the best ways Equifax can help people live their financial best."