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No. of Recommendations: 2
I'm guessing that there is a non-trivial chance that this will eventually become a net positive for Equifax... And that's assuming they don't actually do anything else to fix their problems or their reputation.

I agree. The key thing is, the credit and/or identity theft monitoring that Equifax is giving away is one of its lines of business. Why does that matter?

Personal anecdote: A few years ago, there was a data breach at Anthem, the health insurance carrier I used through work. As is customary, they gave affected consumers 2 years of free credit monitoring. I took that two free years. But what happens after 2 years? Anthem is off the hook, and my data is potentially out there sleeping in some file available to crooks. I'm pretty stable. I've had the same address for a quarter century. So I like, kind of need credit monitoring for the rest of my life.

And it turns out the firm that Anthem used was willing to offer me the same service for $8.50 per month. I took it, because for 2 years I got a monthly report that there was nothing suspicious, and when I applied for credit the service picked that right up and alerted me. $8.50 per month is 15% less than the commonly advertised price for LifeLock, and the biggest advertised discount I've seen for Lifelock is 15%. I wasn't willing to do a lot of work to find something cheaper that *might* work as well.

So, coming back to Equifax . . . they give 2 years of this credit monitoring/identity monitoring service to everyone who wants to take it. At the end of those 2 years, some percentage of those people will start paying for it. And that's more revenue to Equifax.

Me? I'm sticking with what I'm already paying for. It isn't worth my trouble to double-layer the monitoring. And I bet that the web site Equifax set up simply tells everyone that their data might be compromised, not just the 260 thousand or so consumers whose data was identified as breached.

Patzer
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