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Equifax’s Offer for Free “Lock” Raises Questions: Best Protection is Still Credit Freezes with all Three Credit Bureaus
Statement by Mike Litt at U.S. PIRG on Equifax’s announcement for a free lock on Equifax credit reports.
“Equifax and the other credit bureaus fought for years against our right to freeze our credit reports in the first place and then demanded fees to do so. We are still trying to figure out why they are pushing a newer thing they call a “lock.”
Previous offers from Equifax to victims of the Equifax breach came with strings attached – specifically, signing away your right to a day in court in the future. We are working to determine whether signing up for the “lock” service raises similar concerns.
Whether it’s a freeze or a “lock,” Equifax is still, even three weeks later, failing to completely protect consumers by not offering it with all three credit bureaus.
The best way to protect yourself from an identity thief opening a credit account in your name is still by getting credit freezes at all three credit bureaus.
U.S. PIRG is the federation of state Public Interest Research Groups. PIRGs are non-profit, non-partisan public interest advocacy organizations that stand up to powerful interests whenever they threaten our health and safety, our financial security, or our right to fully participate in our democratic society. On the web at www.uspirg.org.
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