What is Equifax?
Stacy Evans asked:
Did you know that there are three main credit bureaus that handle and monitor your credit? Consequently, you have three separate credit scores and credit reports. Annually, you are entitled to one free credit report, per bureau. It is important to check all three credit reports because each report is different. The same account that will appear on an Experian report may not show up on a TransUnion report.
Equifax was founded in 1899; it is the oldest U.S. consumer credit report agency. Equifax was originally known as “Retail Credit” until 1975 when the company was accused of issuing personal information such as marital troubles, sex life and political views to creditors. As a result, creditors would base credit worthiness on the premise that if you participate in deviant sexual practices or abuse your spouse, it is likely that you could not be trusted to back a loan. That same year, Retail Credit announced that it would computerize its files. As a result, they were brought to court by a Columbia University Professor Alan Westin. The professor argued that computerizing information presented a threat to a civil liberties and privacy. He also argued that the company would give information to almost anyone who wanted it. Accordingly, the Fair Credit Reporting Act was created later that year.
Decades after rebuilding its reputation, Equifax now has offices in approximately 14 countries. The company also works very closely with the government to make certain that they do not violate any privacy laws. Though they do adhere to these laws, they reserve the right to report suspicious activity. Experian’s reports and scores are different because they use a different method of collecting information for credit reports and scores. Some credit bureaus use the FICO scoring method while others have adopted methods including, VantageScore and the PLUS Score.
Equifax offers various services and products, including Equifax ID Patrol, Debtwise and Score Watch. ID Patrol monitors your credit file and sends out alerts when important changes are made. For instance, if your private information is found in a suspicious underground internet trading site, Equifax will notify you via e-mail. Debt Wise provides you with a step-by-step plan to quickly pay down your debts. Score watch monitors your FICO score so that you can achieve your ideal score. ID Patrol will give you a thorough explanation on what changed your credit score. Equifax provides several other services, all for a small fee.
All of the credit bureaus offer various services that will help you repair your credit. To find out the best credit monitoring and repair methods without the hassle of everyday research, seek advice from a credit consulting company.
Willie
Did you know that there are three main credit bureaus that handle and monitor your credit? Consequently, you have three separate credit scores and credit reports. Annually, you are entitled to one free credit report, per bureau. It is important to check all three credit reports because each report is different. The same account that will appear on an Experian report may not show up on a TransUnion report.
Equifax was founded in 1899; it is the oldest U.S. consumer credit report agency. Equifax was originally known as “Retail Credit” until 1975 when the company was accused of issuing personal information such as marital troubles, sex life and political views to creditors. As a result, creditors would base credit worthiness on the premise that if you participate in deviant sexual practices or abuse your spouse, it is likely that you could not be trusted to back a loan. That same year, Retail Credit announced that it would computerize its files. As a result, they were brought to court by a Columbia University Professor Alan Westin. The professor argued that computerizing information presented a threat to a civil liberties and privacy. He also argued that the company would give information to almost anyone who wanted it. Accordingly, the Fair Credit Reporting Act was created later that year.
Decades after rebuilding its reputation, Equifax now has offices in approximately 14 countries. The company also works very closely with the government to make certain that they do not violate any privacy laws. Though they do adhere to these laws, they reserve the right to report suspicious activity. Experian’s reports and scores are different because they use a different method of collecting information for credit reports and scores. Some credit bureaus use the FICO scoring method while others have adopted methods including, VantageScore and the PLUS Score.
Equifax offers various services and products, including Equifax ID Patrol, Debtwise and Score Watch. ID Patrol monitors your credit file and sends out alerts when important changes are made. For instance, if your private information is found in a suspicious underground internet trading site, Equifax will notify you via e-mail. Debt Wise provides you with a step-by-step plan to quickly pay down your debts. Score watch monitors your FICO score so that you can achieve your ideal score. ID Patrol will give you a thorough explanation on what changed your credit score. Equifax provides several other services, all for a small fee.
All of the credit bureaus offer various services that will help you repair your credit. To find out the best credit monitoring and repair methods without the hassle of everyday research, seek advice from a credit consulting company.
Willie
