Free Equifax Credit Monitoring Alerts Through PayPal

Published 9/10/07 (Modified 3/22/11)
By MoneyBlueBook

PayPal and Equifax have an ongoing partnership where PayPal users can receive free credit monitoring alerts through Equifax. The interesting part is that you don't need to have a PayPal account to receive the free service. You just have to visit PayPal's website and click on the Equifax Credit Alert link. You will then be automatically redirected to Equifax's website where you can register or sign in with your existing Equifax login ID. The offer is essentially open to everyone since there is no actual attempt to verify that you are indeed a PayPal customer. You just have to register through the PayPal link and the service is free.

I have not been a victim of credit fraud but I am learning to be more careful these days. I have given my confidential personal information numerous times to apply for various credit offers and contract job positions. It doesn't cost anything to exercise a healthy level of caution and take advantage of the service.

The free Equifax standard credit monitoring service provides notifications to your chosen e-mail address or telephone number when the following account changes appear on your Equifax credit report:

• Balance amount increase,
• Balance percent increase, or
• New Equifax credit inquiries.

The alerts can be changed and customized to your preference, and you can decide on what dollar amount or percentage change you would like to be alerted about.

The downside is that the service only provides alerts for Equifax credit changes and doesn't tell you which credit card triggered the alert. But hey, it's definitely not bad for a free credit monitoring service.