Experian is a credit reporting agency that provides you with information about your credit rating. It also offers credit monitoring so you can monitor your credit report closely. It is one of three agencies in the United States, along with TransUnion and Equifax, employs 17,000 people worldwide and is an authority on credit monitoring and reporting. You may be familiar with websites such as CreditScore.com, FreeCreditReport.com or CreditReport.com, which Experian also owns and operates.
- What is Experian?
- Experian’s products and services
- Benefits of Experian Credit Monitoring
- How Experian Pricing Works
- Experian Customer Ratings
What is Experian?
Experian’s bread and butter provides customers with credit reports and any related changes. Customers receive unlimited access to their Experian credit report, as well as a monthly statement containing their FICO score. They also receive email alerts about significant changes to their credit score and have access to Experian’s dedicated fraud support team.
Experian’s products and services
Experian offers three key products that customers can choose from: CreditWorks, IdentityWorks, or the Tri-Bureau Credit Report.
It is a subscription-based service that provides users with unlimited access to their credit report and FICO score, notifications of substantial changes to their credit report, and identity theft insurance. Customers can also access a dedicated anti-fraud support team.
This expands CreditWorks and gives users unlimited access to their Experian credit report and TransUnion and Equifax daily reports. IdentityWorks offers customers alerts about changes to their credit report, identity theft protection, and access to the fraud support team. This product constantly scans the Internet for personal information and monitors its accuracy to prevent identity theft.
The credit report of the three offices
This unique service gives customers insight into their credit score from Experian, TransUnion and Equifax. The reviews include both proprietary credit scores and a FICO score and give users a solid understanding of their credit score at the time of the report.
Benefits of Experian Credit Monitoring
Experian offers several advantages that set it apart from other agencies.
Experian offers automated monitoring
Experian gives you access to your credit score at any time and monitors your credit score continuously. If the program notices any significant changes, such as a change of address or the addition of a new account, it will notify you via email or the mobile app. This report allows users at high risk of identity theft to detect these changes and prevent theft from becoming a serious problem by stopping it in its tracks.
Experian provides a FICO score
If you request a credit report from a credit monitoring agency, many will give you a score based on a proprietary internal rating scale. Experian is the only credit monitoring service that will also provide you with your FICO score. This is a standardized score that most credit grantors use to determine your credit eligibility and the rates and terms of any loan or credit card. The higher your score on a scale of 300 to 850, the more likely you are to get better terms and rates.
Experian also provides a full breakdown of your credit score in its reports and indicates the factors that influence your score. This is a great resource if you’re looking to improve your score, as it highlights areas where you need to focus your efforts.
Experian offers a training center
Many people use credit without fully understanding it. Experian offers its customers a complete and useful training center, which contains relevant and useful information. The articles are up-to-date and accurate, and they’re a great resource for new credit users and experienced credit veterans alike. If you’re wondering what affects your credit score and how you can improve your credit health, this resource is a great place to start.
You need to understand how planning for a major financial change will affect your credit score. This can include tasks such as taking out a car or home loan, declaring bankruptcy, or paying off your credit card debt.
Experian offers you a credit score simulator that allows you to see the impact of your financial decisions on your credit score. This will help you in your decision making process. The simulator takes into account many variables and uses the same calculations as FICO. It’s pretty accurate in its predictions, but you shouldn’t assume the results are 100% accurate.
Experian has a mobile app
If you prefer to manage your life from your smartphone, the Experian app is a great addition to its multitude of services. Experian has gone to great lengths to ensure that the app is easy to use on Android and Apple devices. It’s stable, attractive, and a great alternative to the desktop site.
The mobile app offers several benefits, including video tutorials on how to get the most out of the resource. New users will appreciate them. The tutorials cover a range of basic and very important topics, such as how to dispute an inaccuracy on your credit report and how to track your credit score over time.
How Experian Pricing Works
Both CreditWorks and IdentityWorks are subscription products, which means Experian will bill you monthly until you cancel your subscription. Prices shown are current as of August 2022.
Experian CreditWorks Pricing
CreditWorks offers a free basic plan and a free premium plan for seven days, then only $24.99 per month. The CreditWorks Basic only lets you monitor the Experian report and monthly scores, while the premium package includes monitoring reports with the three major credit bureaus, daily Experian credit reports, scores, and several credit protection solutions. identify.
Experian IdentityWorks Pricing
IdentityWorks offers a plus and premium package, both of which offer a 30-day free trial. After 30 days, IdentityWorks Plus costs $9.99 per month and IdentityWorks Premium costs $19.99 per month. These prices include protection for one adult, and prices increase for other levels: a plan for one adult and up to 10 children costs $14.99 for IdentityWorks Plus and $24.99 for IdentityWorks Premium, and for two adults and up to 10 children, the costs are $19.99 for the plus package and $29.99 for the premium. The main differences between the plus and premium plans are the level of theft insurance coverage and the types of monitoring and alerts.
It should be noted that if you sign up for the 30-day free trial, you must manually cancel it before the period expires. Otherwise, Experian will charge the monthly subscription fee until you cancel your service. Some customers reported that their trial stopped before the end of the 30-day trial period and Experian charged them prematurely. Try to access your report as soon as possible and cancel your service if you don’t want to continue.
Three Bureau Experian Credit Report Pricing
The three bureau credit report costs $39.95. Unlike the other two products, this is a one-time payment and you do not benefit from any additional services from Experian.
Experian Customer Ratings
In general, most customers are very satisfied with the service provided by Experian. However, some report difficulty canceling their subscription or having their free trial expire before the end of the seven-day period. Many customers are also unhappy with hidden fees for services that should come standard with the CreditWorks package. If you want to get full credit reports from all three agencies, you have to pay additional fees per report, which can add up seriously over time.
Customers are also worried about a series of data breaches in 2017. Equifax was the hardest hit, with the personal information of more than 140 million people compromised. Experian has also faced data breaches and lawsuits over unsecured customer information. Since the 2017 breaches, security has likely improved, but reports of credit report inaccuracies remain troubling.
Why choose Experian?
Knowing your credit score is an essential part of understanding your financial health. If you’re looking for a service that gives you regular access to your credit score, Experian is a solid choice. It provides daily updates, regular credit reports, and automated monitoring for a reasonable monthly price.
The main disadvantage of the service is that it does not provide you with a complete picture of your credit score with the other two agencies. However, if you are looking for a tool to help you manage or rebuild your credit score, Experian offers a good solution to do so.