CHARLOTTE, N.C. — Following AT&T's data breach in March, the telecom giant said it is taking the security of customers' personal information seriously by offering complimentary credit monitoring services. The offer aims to help the nearly 73 million current or former customers get ahead of any potential risk of identity theft or financial fraud. AT&T customers are now able to sign up for credit monitoring services at no charge for one year due to that major data breach.
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When it comes to understanding the differences between the three national credit reporting agencies, Experian, Equifax, and Transunion, these agencies play a crucial role in tracking and reporting our credit histories. But they also each have unique characteristics.
They all use FICO and VantageScore, a score of 850 being the highest consumers can receive.
Experian's IdentityWorks membership includes alerts for suspicious activities, access to their credit reports, and identity restoration support in case of fraud.
Lenders tend to use Experian, known for its comprehensive credit reports accuracy as well as up to date information.
Equifax is also known for providing detailed credit reports and scores and offers credit monitoring and identity theft protection services.
While Transunion offers credit reporting services and credit monitoring tools, it is particularly known for its True Identity service, which provides identity theft protection.
All three agencies can cater its tools to different consumer needs. It is common for credit checks to involve information from all three agencies.
Personal finance experts agree it's always advisable to check your credit reports regularly from all three to stay informed about your financial standing.
Consumer Financial Protection Bureau says consumers have the right to request a free copy of their credit report each year from the three major credit reporting companies. You may also be able to view them more frequently online. You can make those requests by visiting AnnualCreditReport.com.
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