Equifax Launches Innovative New Solutions for Credit Monitoring and Identity Theft Protection

Rhea-AI Summary

Equifax (NYSE: EFX) launched two new products aimed at enhancing consumer credit monitoring and identity theft protection: Equifax Credit Monitor and Equifax Complete. The Credit Monitor, priced at $4.95 per month, allows users to lock their credit file and access their credit report daily, while the Complete package, at $9.95 per month, offers more comprehensive features. The initiative responds to rising identity theft concerns amid the COVID-19 pandemic, which has seen over 62,000 fraud reports related to the crisis.

Positive

• Launch of two new consumer credit monitoring products.
• Equifax is the only bureau offering bundled credit protection at competitive prices.
• Products provide affordable options for consumers amid rising identity theft risks.

Negative

• None.

ATLANTA, July 16, 2020 /PRNewswire/ -- Equifax® (NYSE: EFX) 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 -19%2Fconsumer-survey-americans-coronavirus-concerns%2F&a=Consumer+Credit+Confidence+survey" rel="nofollow">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."

About Equifax
Equifax is a global data, analytics, and technology company and believes knowledge drives progress. The Company blends unique data, analytics, and technology with a passion for serving customers globally, to create insights that power decisions to move people forward. Headquartered in Atlanta, Equifax operates or has investments in 24 countries in North America, Central and South America, Europe, and the Asia Pacific region. It is a member of Standard & Poor's (S&P) 500® Index, and its common stock is traded on the New York Stock Exchange (NYSE) under the symbol EFX. Equifax employs approximately 11,000 employees worldwide. For more information, visit -1%26h%3D1564839905%26u%3Dhttps%253A%252F%252Fc212.net%252Fc%252Flink%252F%253Ft%253D0%2526l%253Den%2526o%253D2668596-1%2526h%253D3552240478%2526u%253Dhttps%25253A%25252F%25252Fc212.net%25252Fc%25252Flink%25252F%25253Ft%25253D0%252526l%25253Den%252526o%25253D2591128-1%252526h%25253D313034502%252526u%25253Dhttps%2525253A%2525252F%2525252Fc212.net%2525252Fc%2525252Flink%2525252F%2525253Ft%2525253D0%25252526l%2525253Den%25252526o%2525253D2507877-1%25252526h%2525253D3471243818%25252526u%2525253Dhttps%252525253A%252525252F%252525252Fc212.net%252525252Fc%252525252Flink%252525252F%252525253Ft%252525253D0%2525252526l%252525253Den%2525252526o%252525253D2487638-1%2525252526h%252525253D377278997%2525252526u%252525253Dhttps%25252525253A%25252525252F%25252525252Fwww.equifax.com%25252525252Fpersonal%25252525252F%2525252526a%252525253DEquifax.com%25252526a%2525253DEquifax.com%252526a%25253DEquifax.com%2526a%253DEquifax.com%26a%3DEquifax.com&a=Equifax.com" rel="nofollow">Equifax.com and follow the company's news on -1%26h%3D2415536517%26u%3Dhttps%253A%252F%252Fc212.net%252Fc%252Flink%252F%253Ft%253D0%2526l%253Den%2526o%253D2668596-1%2526h%253D2106905374%2526u%253Dhttps%25253A%25252F%25252Fc212.net%25252Fc%25252Flink%25252F%25253Ft%25253D0%252526l%25253Den%252526o%25253D2591128-1%252526h%25253D830586425%252526u%25253Dhttps%2525253A%2525252F%2525252Fc212.net%2525252Fc%2525252Flink%2525252F%2525253Ft%2525253D0%25252526l%2525253Den%25252526o%2525253D2507877-1%25252526h%2525253D3432097830%25252526u%2525253Dhttps%252525253A%252525252F%252525252Fc212.net%252525252Fc%252525252Flink%252525252F%252525253Ft%252525253D0%2525252526l%252525253Den%2525252526o%252525253D2487638-1%2525252526h%252525253D1348596810%2525252526u%252525253Dhttps%25252525253A%25252525252F%25252525252Ftwitter.com%25252525252FEquifaxInsights%2525252526a%252525253DTwitter%25252526a%2525253DTwitter%252526a%25253DTwitter%2526a%253DTwitter%26a%3DTwitter&a=Twitter" rel="nofollow">Twitter and -1%26h%3D3861024714%26u%3Dhttps%253A%252F%252Fc212.net%252Fc%252Flink%252F%253Ft%253D0%2526l%253Den%2526o%253D2668596-1%2526h%253D2014339500%2526u%253Dhttps%25253A%25252F%25252Fwww.linkedin.com%25252Fshowcase%25252Fequifax%25252F%2526a%253DLinkedIn%26a%3DLinkedIn&a=LinkedIn" rel="nofollow">LinkedIn.  

FOR MORE INFORMATION  
Zehra Mehdi-Barlas 
470-373-2376 
MediaInquiries@equifax.com

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SOURCE Equifax Inc.

FAQ

What new products did Equifax launch for credit monitoring?

Equifax launched Equifax Credit Monitor and Equifax Complete, designed to enhance credit monitoring and identity theft protection for consumers.

How much do Equifax's new credit monitoring products cost?

Equifax Credit Monitor is available for $4.95 per month, and Equifax Complete is available for $9.95 per month.

What features do Equifax Credit Monitor and Equifax Complete offer?

Both products include credit report monitoring, identity theft protection, and credit report lock capabilities.

Why did Equifax launch these new products?

The launch responds to increased concerns about identity theft during the COVID-19 pandemic, which has seen a rise in fraud reports.

How does Equifax aim to assist consumers with its new products?

Equifax aims to provide consumers with affordable tools for monitoring their credit and protecting against identity theft.