Pros / Equifax Complete Advantage tracks information from all three credit reporting bureaus so you can receive alerts if something changes.
Cons / This service uses its own proprietary credit scoring model, so the credit score you receive might be different from one calculated by a lender.
Verdict / With this service, you get unlimited access to your Equifax credit report and score and annual access to data from all three credit reporting bureaus.
Editor's Note: In July of 2017, a data breach at Equifax exposed the personal data of 143 million U.S consumers. The personal information includes Social Security numbers, birth dates, addresses and some drivers license numbers. A smaller number of credit card numbers were also affected. Equifax is offering a tool here to help you determine if you were affected. The FTC has provided additional recommendations here.
Equifax Complete Advantage is a credit-monitoring service that tracks data from all three credit reporting bureaus – Equifax, Experian and TransUnion – on a daily basis, which gives you the peace of mind that the information you receive will be thorough.
However, this service uses its own trademark Equifax Credit Score model for determining what your credit risk might be. This model is not universally used. So, the information involved in these calculations for your credit report and credit score might be different from the calculations made by a potential lender using a different scoring model to assess your credit rating and overall creditworthiness.
Equifax Complete Advantage gives you a three-bureau annual credit report with your scores and profile from all three reporting bureaus once a year as part of the cost of this plan. If you want to get another one-time, three-bureau report, you will need to pay an extra fee.
With Equifax Complete Advantage, you get unlimited access to information about your credit report and score from Equifax. You also get alerts informing you about any changes in your Equifax data, and you can set up alerts for two personal accounts – for example, a credit card and a bank account.
You can get alerts through any mobile device, and this service provides a handy mobile app so you can keep tabs on your credit whenever you choose and wherever you are.
With this service, you can get the benefit of lost wallet protection, which could come in quite handy if your wallet is stolen or misplaced and you fear your identity and finances are threatened. This service also offers specialists who can help you if your identity is stolen and provides a 30-day follow-up. In addition, you can purchase $25,000 in identity theft insurance.
Equifax Complete Advantage provides a full roster of customer support, including help by phone and email, online documentation, a FAQs section, an informative blog, and the always-useful live chat, which can be a great assistance if you need answers to questions quickly.
Another benefit is that you can get customer service 24/7, which is not always the case with some credit-monitoring services.
- Identity Theft Insurance Coverage
- Monthly Monitoring Subscription
Equifax Complete Advantage gives you complete data as far as it is reported to Equifax, and you get handy alerts. It also monitors the two other reporting service bureaus daily and provides you with an annual report with information from all three of them. One drawback is that the credit scoring model used by this service may not be the one used by a potential lender from whom you are seeking credit; however, it still gives you a solid idea of where you stand in terms of creditworthiness.