Equifax is a scam don't pay subscription

couldbebetterwithmoney

I joined Equifax (and Credit Expert + Call Credit Check) earlier this year after I embarked on a process of repairing my credit rating. Today i seen on my bank statement that the monthly subscription had been taken so I logged onto the Equifax website to check my credit rating. Turns out that the £8.99 per month that I was paying was only to become a member and get alerts etc but that if I wanted to see my credit file, I would have to pay more money.
I know I've probably agreed to this when i signed up etc but I fel like a prat what a waste of money.
Avoid Equifax it's just a scam. Isn't it a shame our elected representatives do not do more to get rid of these leeches from our society...

ChopperST

couldbebetterwithmoney wrote: »

Avoid Equifax it's just a scam.

Whilst I agree with you that its a waste of money its not a scam and clearly advertised on their website on the sign up link...

FREE* Credit Report

It's important to understand your credit report and how it can help you get credit.
Get your FREE Credit Report
*Then only £9.95 per month to continue if you don't
cancel within your 30 day free trial.

gb12345

couldbebetterwithmoney wrote: »

I know I've probably agreed to this when i signed up etc but I fel like a prat what a waste of money.
Avoid Equifax it's just a scam. Isn't it a shame our elected representatives do not do more to get rid of these leeches from our society...

You did agree to it, so it's not a scam, just another person who was too lazy to read the T&Cs that they were agreeing with.

In future keep your card in your wallet until you have read and understand what you are signing up/paying for.

Cycrow

couldbebetterwithmoney wrote: »

Avoid Equifax it's just a scam. Isn't it a shame our elected representatives do not do more to get rid of these leeches from our society...

yes i agree, those that sign up for things without reading should be dealt with.

kingstreet

Simply order copies of your statutory credit file every so often and pay the £2 each time;-

Equifax

https://www.econsumer.equifax.co.uk/consumer/uk/order.ehtml?prod_cd=UKSCR

Experian

http://www.experian.co.uk/consumer/statutory-report.html#orderReport

CallCredit

https://www.callcredit.co.uk/stat-report-online/index.php?action=basket_add&tpl=setRegister&package=63&amount=1&mode=clear

happy_bunny_2

Use noddle to check the call credit one, its free

glynb

It's certainly difficult to find an email address or a link to allow you to cancel your subscription.

Tixy

glynb wrote: »

It's certainly difficult to find an email address or a link to allow you to cancel your subscription.

For anyone trying to cancel an equifax subscription

Plus note down how to cancel: To request cancellation, call 0844 335 0550 (020 7298 3000, and asking for customer services can also work) and select option three. Quote your product reference.

(from http://www.moneysavingexpert.com/loans/credit-rating-credit-score#trick)

The_Boss

couldbebetterwithmoney wrote: »

I know I've probably agreed to this when i signed up etc but I fel like a prat what a waste of money.
Avoid Equifax it's just a scam. Isn't it a shame our elected representatives do not do more to get rid of these leeches from our society...

You're right. You really couldbebetterwithmoney!

Gold_bullion

My understanding is that to review your credit FILE is "free" with Equifax once you are a subscriber, which costs various amounts from £5.95 to £9.99 a month depending on when you joined.

If you want your Equifax credit SCORE (which as has been pointed out elsewhere is of limited use), then you pay £5.95 for it. This is fairly pointless once you understand how lenders score you.

So if you are a current subscriber, you should be able to access your credit report without paying any more. Bizarrely you still have to "order" it, wait about 10 seconds for it to be generated, and then go to the home page to access it. It also stores previous reports you have requested so you can compare them.

Obviously it's cheaper not to subscribe to the CRAs and use the two quid option, but you have to write the letter, wait for the reply which usually takes weeks, and as I recall the info is more difficult to trawl through. I'm also not sure what level of data you get. For example, do you get the extra info they have added now like amount paid off a credit card each month, credit limit that month, whether the balance is a promotional rate, etc? Hopefully you should do as it's data they hold on you.

santacruz_2

Also, beware they do not continue to charge you after you have cancelled your subscription as they did with me.