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Security & privacy

Equifax is giving you a free lifetime credit lock

If you haven’t checked to see if your sensitive information was exposed through the Equifax data breach, you need to ASAP. Click here to find out if you’re one of the 143 million Americans impacted.

The breach was such a massive blunder that Equifax CEO Richard Smith stepped down. Now, its interim CEO is apologizing and announcing a new security feature to try and win back customers’ trust.

What’s Equifax’s new security feature?

Equifax interim CEO Paulino do Rego Barros Jr. wrote a statement earlier this week that appeared in The Wall Street Journal. He began with an apology to customers for how Equifax handled the data breach.

He said, “We were hacked. That’s the simple fact. But we compounded the problem with insufficient support for consumers. Our website did not function as it should have, and our call center couldn’t manage the volume of calls we received. Answers to key consumer questions were too often delayed, incomplete or both. We know it’s our job to earn back your trust.”

He then went on to describe how Equifax is trying to help consumers deal with the breach. The company is extending services it previously offered, like its free credit freeze, until the end of January. It’s also extending the sign-up period for its TrustedID Premier until the end of January.

Those are immediate actions that you can take to help in the short-term. However, the company also announced it will offer consumers a free lifetime credit lock that you can sign-up for in January.

Barros said, “By January 31, Equifax will offer a new service allowing all consumers the option of controlling access to their personal credit data. The service we are developing will let consumers easily lock and unlock access to their Equifax credit files. You will be able to do this at will. It will be reliable, safe and simple. Most significantly, the service will be offered free, for life.”

Hopefully, the new service will help clean up at least some of the mess Equifax created. Millions of us will be dealing with the fallout from this breach for years.

What do you think? Will you trust Equifax in the future with your information? Leave a comment and tell us your thoughts.

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