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Equifax vs Experian

Best Credit Monitoring

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

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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2 stars
Experian

EXPERIAN

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Cost:

From $9.99 to $29.95/month

Experian offers a professional user experience with an easy-to-navigate website. Their services are free for 30 days and then the premium membership kicks in at $19.99/month. It is advertised that you can cancel at any time. However, many customers report that it is very difficult to cancel both the free trial and membership.

If you choose to use Experian's services, the premium product features include:

  • 3-bureau credit monitoring
  • Monthly 3-bureau updates
  • New Experian credit report (updated every 30 days) and FICO score every day
  • Experian CreditLock
  • $1 million identity theft insurance
  • Personalized support from credit and fraud resolution agents
  • Dark web internet surveillance alerts
  • Lost wallet assistance

Experian has a comprehensive mobile app that gives on-the-go access to all of their features. Other helpful resources offered by Experian are their score simulator, wallet protection, and a frequently updated blog. The score simulator that lets you see how taking out a loan, paying off a loan, or getting a new credit card might affect your Experian credit score. If your wallet is stolen, Experian will assist you in cancelling and replacing any cards. If you fall victim to identity theft, fraud resolution specialists will help file police reports and other necessary work.

One resource that sets Experian apart from other credit monitoring companies is their free "boost" feature. Experian Boost is designed to help people who are either recovering from financial setbacks or building their credit score for the first time. Users must agree to let Boost connect with their bank accounts and scan their transactions for payment information on phone and utility bills. You choose and verify positive payment history you want added to your credit file. Overtime, these payments made on time will contribute to your credit score and slowly "boost" it up.

Unfortunately, Experian has overall bad ratings from customers. The main concerns people have with Experian are their poor customer service as well as their frequent mistake of double charging people's cards each month. There are also hundreds of reports of glitches on the website when entering private information and viewing credit scores. Based on the heavily negative feedback from users, despite the professional website and seemingly impressive services, we would suggest staying away from Experian and using one of our higher-rated suggestions for credit monitoring instead.

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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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