Economy

Equifax will let customers control their credit data for free

Equifax will let customers control their credit data for free”

They follow Equifax's move on September 12, following consumer protests, to stop charging fees for a credit freeze.

"By Jan. 31, Equifax will offer a new service allowing all consumers the option of controlling access to their personal credit data".

Equifax, still reeling from a massive hack that exposed sensitive data about 143 million people, said Thursday that it will begin offering a new service next year that gives consumers more control over their data. It will be reliable, safe and simple.

Equifax's critics have had much to discuss: The company waited more than a month to alert the public to the breach; three of its executives sold stock days after the hack was detected; and on multiple occasions, its official Twitter account directed customers to a fake phishing site rather than to its own security update site. Get started with his step-by-step Credit Freeze Guide.

The costs to freeze and lift the freeze on your credit vary based on where you live, but commonly ranges from $2 to $10 per agency.

Equifax said the breach potentially affects 143 million USA customers - with information like names, Social Security numbers, birth dates and addresses possibly compromised.

With that kind of data on hand, it's possible a criminal could take out a loan in someone's name or run their credit score into the ground. At least 50 class action lawsuits have been filed.

On behalf of Equifax, I want to express my honest and total apology to every consumer affected by our recent data breach.

Equifax said it plans to address issues with their call centers and websites as well, with Barros writing that more experienced agents will be added to call centers and website security will be upgraded.

Barros promised to extend other protective services for customers - including pushing the deadline to sign up for free credit freezes to the end of January, and extending the sign-up period for TrustedID Premier.

"We will act quickly and forcefully to correct our mistakes, while simultaneously developing a new approach to protecting consumer data", Barros wrote in the Wall Street Journal. "Answers to key consumer questions were too often delayed, incomplete or both".

"We know it's our job to earn back your trust", Barros wrote.



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