Equifax Offers a New Free Way to Help Protect Your Credit

Equifax Offers a New Free Way to Help Protect Your Credit

Weeks after Equifax revealed that some 143 million Americans may have had their personal information exposed, the company has a new announcement: It's rolling out a new service for consumers to help protect their credit.

The service will allow you to lock and unlock access to your Equifax credit files, helping you control access to your personal credit data, wrote Equifax's interim CEO Paulino do Rego Barros Jr. in an op-ed for the Wall Street Journal.

It's currently in development, with a promise of availability by January 31, 2018, and will be free for life.

So how does this service differ from a credit freeze? Locking has the same affect as freezing, in that new credit can't be opened in your name, but unlike freezing, locking and unlocking your account doesn't require a PIN and it's not subject to the same state laws.

In addition to the credit lock service, Equifax is also extending the deadline to sign up for a free credit freeze, as well as its complimentary TrustedID Premier package, until the end of January 2018.

So if you still haven't taken action to protect your credit, this could be a good time.

RELATED: The Equifax Data Breach Scares People — Just Not Enough to Do Anything About It

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