Online Calculator | Equifax A Trusted Identity When Considering Credit Scores

Equifax A Trusted Identity When Considering Credit Scores

Credit reports unfortunately are a fact of life. If you need a substantial sum of money and have to borrow it, this report will be checked so work with through Equifax. The information it contains will be the yardstick for the lender to decide whether you will get the loan or not. It will also be the major instrument in determining what terms will be offered to you. Equifax, established in 1899 as The Retail Credit Company, is one of the three biggest companies in the credit information business. It has more than a century of experience in this field.

The implications of computerizing files in the 1970′s were that details of credit holders would be much easier to view for a wider range of people. This could have far reaching implications for the privacy of people. Hearings took place in front of US Congress. This resulted in the Fair Credit Reporting Act. This act meant that consumers would have more rights in future concerning the information about them that could be revealed by credit agencies with top credit monitoring services.

In 1975 The Retail Credit Company became Equifax. This company is based in Atlanta, Georgia. Equifax, a company listed on the NYSE, has shown steady growth over the years.

The company expanded its services over time to other countries. It now operates globally. The company has annual revenue of one and a half billion US dollars and more than seven thousand employees in fourteen countries. The firm has always been active, mainly in the business-to-business sector. It is a role player in a variety of industries. Customers include banks and other financial institutions. It also offers its services to health care providers, retailers, and suppliers of utilities, firms selling insurance, government agencies and others.

Apart from credit reports, Equifax also sells businesses analytics, demographic data, and software. Credit reports are detailed and give information on payment history of individuals. From this, money lenders can see whether financial obligations have been honored in the past by an individual. Businesses may then take this information into account when deciding what services or products to offer as well as the applicable terms.

Since 1999, Equifax has also offered tools to make life easier for the consumer and preventing possible credit fraud or someone using another’s identity. One such a tool is a credit lock service that limits investigation into a person’s details. If you have subscribed to this service, you can set preferences as to who may access what information. Debt Wise is another Equifax product. This is an invaluable tool to help people get rid of debt quicker.

US citizens are, by law, entitled to see their credit details free once a year. The details may be viewed online. Make sure that you look at this very closely to pick up any mistakes or irregularities.

The key to having a good credit rating is to pay your bills. You may find advertisements for so called repair companies. Keep away. They are quick to promise and seldom deliver.

Equifax has been delivering good service for more than a hundred years for top credit monitoring services. The company is a trusted one and it is deserving of that trust after research with Equifax. Make use of what they offer and check your credit details. It can save you a lot of problems.

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