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      July 12, 2020

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Equifax vs Credit Reporting

Best Credit Monitoring

To help you find the Best Credit Monitoring Companies, TopConsumerReviews.com provides you with an in-depth comparison of Equifax and Credit Reporting.

To see ALL of our reviews for the Best Credit Monitoring Companies, please Click Here

Where is the best place to monitor your credit? In order to purchase a home, buy a car, or obtain almost any kind of loan, you need good credit and history. Falling behind on credit card payments, making too many expensive purchases, opening multiple credit card accounts, filing for bankruptcy, not paying monthly bills, and other factors may cause your credit score to drop significantly. On the flip side, staying on top of credit card payments, paying bills right away, and paying off loans are a few of the ways you can build a fantastic credit score.

Staying aware of your current credit score and proactively working to keep it up will help you, in almost all, financial aspects of your life. During the interview process, companies looking to hire may even request access to a modified credit report to check for signs of financial distress. This helps companies know if candidates may be at risk for committing theft or fraud. With new online services, you can easily access your credit score and stay on the road to financial success.

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Best Reviews

2020

Credit Monitoring Reviews

3 stars
Equifax

EQUIFAX

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Cost:

From $14.95 to $19.95/month

For over 100 years, Equifax has been providing credit reporting options for customers at a low cost. In 2017, they experienced a data breach that exposed the personal information of millions of customers including social security numbers, credit cards, and drivers licenses. It took weeks for them to alert customers of the breach, and customers were (and still are) very upset about the way it was handled.

For customers willing to look beyond the data breach, Equifax has four main products useful for credit monitoring. They include Equifax Complete Premier ($19.95/month), Equifax Complete Family Plan ($19.95/month), Equifax ID Patrol ($16.95/month), and Score Watch ($14.95/month). A breakdown of what is included with the two main packages goes as follows.

Equifax Complete Premier and Equifax Complete Family Plan:

  • Annual 3-Bureau credit scores and report
  • Daily Equifax credit score
  • Daily Equifax credit report
  • 3-Bureau credit file monitoring
  • Equifax credit score monitoring
  • Internet scanning
  • Automatic fraud alerts
  • Financial alerts
  • Equifax credit report lock
  • Lost wallet assistance
  • Up to $1MM identity theft insurance
  • Second Adult: all premier features (Family plan only)
  • Equifax credit monitoring for up to 4 children (Family plan only)

Any of the plans can be cancelled at any time. It should be noted that the credit score provided by Equifax is not the FICO credit score, but rather a VantageScore that is a product of the three major credit bureaus. The Equifax ID Patrol plan has fewer features, but for only $3 cheaper per month.

Equifax receives an A- rating from the Better Business Bureau. There are quite a few customer complaints about bad interactions with Equifax's customer service team. This seems to be the main source of frustration, rather than poor experiences with the products themselves. We recommend going with one of the higher-rated services if you are looking for basic credit monitoring and don't want to deal with the hassle of poor customer service.

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1.5 stars
Credit Reporting

CREDIT REPORTING

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Cost:

Not provided

At first glance, we would be hesitant to trust this company with our personal information. Credit Reporting is a vault of text-heavy, outdated information. They also operate an unsecure website, meaning your information is not private. Their services are confusing and minimal, leaving them at the bottom of our list for credit monitoring services.

The graphics and design of the Credit Reporting website are as outdated as their most recent blog posts from 2013. Credit Reporting does not seem to be actively providing credit score information to consumers, but rather directing them to Experian's website. Here a 7-day trial is advertised for $1. After the trial period, Experian's services can cost between $19.95 and $29.95 for each additional month you continue to use them.

Credit Reporting contains a lot of "about" categories full of information presented in a way that might put you to sleep. Categories include "About Credit Reports", "About Credit Scores", "About Credit Bureaus", "About Business Credit", "About Identity Theft", and "About Credit Reporting Laws". Bless the poor soul who did all the research, writing, and backlinking for these topics, but they are hard to digest.

Unless you are willing to read through the pages of information about credit reporting, laws, and bureaus, Credit Reporting is essentially useless to consumers. It makes more sense to skip over them as a middleman and go straight to Experian's website to use their services. Due to their lack of relevant resources and direct services, Credit Reporting has earned a ranking on the lower end for credit monitoring services.

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Continued from above

Aside from working to qualify for a loan or your next big career move, a big issue in the world today is identity theft. It is estimated that nine million Americans are victims of identity theft each year. Sometimes this can be caught by watching to see if your credit score takes a major hit. If this is the case, you can dispute the credit report and work to fix the problem. Working with a credit monitoring company that has good customer service to help you through potential issues is important.

Before choosing a credit monitoring service, we suggest you keep the following criteria in mind:

  • Cost. Will you be charged a monthly fee? How do rates compare to their competitors? Find a company that works to keep things budget-friendly.
  • Customer Service. It is important to have easy access to a knowledgeable customer service team that can clearly answer your questions. It can be frustrating to be left confused or jump through hoops to speak to an agent.
  • Resources. Is the website easy to navigate with plenty of straightforward options to manage your credit report? The company should be your advocate for helping you improve your credit score and find the lowest rates on purchases.

To help you identify the best credit monitoring service, TopConsumerReviews.com has reviewed and ranked a variety of options. We hope this information helps you find a credit monitoring company that will provide a good experience for you!

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