Equifax Credit Watch
Equifax Credit Watch is a comprehensive credit monitoring and identity theft protection service offered by Equifax, designed to help individuals closely monitor and protect their credit and personal information.
What the Product Does
Equifax Credit Watch provides users with a robust set of tools to monitor their credit reports, detect potential fraud, and take proactive steps to secure their financial and personal data. This service is particularly useful for individuals looking to maintain good credit health and protect themselves against identity theft.
Key Features and Functionality
Credit Monitoring
- Users have daily access to their Equifax credit report, allowing them to stay updated on any changes or activities in their credit history.
- The service includes credit score monitoring, providing users with their VantageScore 3.0 credit score based on Equifax data. Users receive alerts for any key changes to their credit score.
Identity Theft Protection
- WebScan: This feature scans thousands of Internet sites where personal information is suspected of being bought and sold. It monitors for Social Security numbers, credit/debit card numbers, bank account numbers, email addresses, and medical ID numbers, alerting users if their information is found on these sites.
- Automatic Fraud Alerts: Equifax places a fraud alert on the user’s credit report, which automatically renews every year. This alert prompts lenders to take extra steps to verify the user’s identity before extending credit.
Credit Report Lock
- Users can lock their Equifax credit report, preventing certain third parties from accessing it for the purpose of extending credit. This adds an extra layer of security to protect against unauthorized credit inquiries.
Additional Features
- Lost Wallet Assistance: Helps users quickly cancel and replace important documents and cards if their wallet is lost or stolen.
- Identity Restoration: Provides dedicated Identity Restoration Specialists to help users restore their identity in the event of identity theft.
- Stolen Funds Replacement: Offers up to $1 million in insurance coverage for stolen funds and identity theft-related expenses.
Alerts and Notifications
- Users receive email notifications for key changes to their Equifax credit report, ensuring they stay informed about any significant activities or potential issues.
By combining these features, Equifax Credit Watch offers a comprehensive solution for credit monitoring, identity theft protection, and overall financial security.