Equifax Credit Watch - Is it for You?

Equifax Credit Watch monitoring secrets exposed for US consumers.

Equifax Credit Watch is a service set up by Equifax that enables credit monitoring to check whether there is any activity on your credit report or if new accounts are set up in your name. Such activity could be an indication of identity theft.

If you have limited Internet access, Equifax will mail you to notify of any changes in your credit file.

Here's what they claim to offer:

• Daily monitoring of your credit file mailed to you via US Postal Service
   

• Alerts to name changes or changes in your address, including bank account changes or new accounts, changes to public records or new enquiries
   

• "No News" alerts
   

• Quarterly credit report updates
   

• "One Equifax Credit Report" mailed to you
   

• Tips and help about how to read your credit report
   

• $20,000 identity fraud expense coverage
   

• Customer care service 7 days per week

Complaints

Complaints.com received the following on June 30, 2003:

From: New Heritage Tour & Travel [rcmariposa@earthlink.net]

RE: Equifax Credit Watch - can't get access to credit report due to "glitch"

About 18 months ago, my identity was stolen. The perpetrator was caught and prosecuted (great work by the US Secret Service and FBI) after changing addresses on my credit cards and opening new accounts with his address. In order to protect myself, I signed up for Equifax’s Credit Watch on Dec 23rd, 2002. I paid for a year’s subscription with my American Express card. I used the service for 5 months, got my credit reports and an e-mail alert whenever there was a change to my record.

Then last month, I got an alert and when I went to check on it, I was not able to log on to my report. For 3 weeks I have been calling and e-mailing Equifax and in each case, I have been told that I was not a member and that if I provide a credit card they will sign me up.

Finally a week ago I spoke to a representative who said I am a member but because of a computer glitch, they cannot find my records. Last week I received another credit alert and the Equifax member newsletter. I still cannot log on to the site, cannot identify the changes to my credit report and cannot get anyone at Equifax to help me or even to refund my money ($69) so I can deal with someone else.

The trust placed in a company like this is tremendous. The callous disregard for customers is not appropriate in any business. One has to wonder how they safeguard our credit information if the cannot handle the simple relationship with one customer.

Bob Cotter

Source: http://www.complaints.com/july2003/complaintoftheday.july1.4.htm

What does it cost?

$69 per year

Other articles of interest:
Secrets Debt Settlement Companies Won't Tell
Consolidate Debt With A Home Equity Loan
How to read Your Credit Report
Identity Theft - How To Tell If You're A Victim