ScoreWatch, among other things, will monitor and catch any added inquiries as well as new accounts on Equifax. Bank accounts won't report to your CRs if current and in good standing. So, SW won't alert you to new bank accounts. However if that bank pulled your Equifax CR in consideration of your credit then you'll get an alert. It will catch new inquiries on EQ if that report was pulled for a new CC. It'll also alert you to any new CC that reports to your EQ CR.