Equifax A Dependable Identity Regarding Credit Rating

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Checking your credit report often is a very good and necessary practice with Equifax. This document will mean the difference between a loan application being accepted or rejected. It is also a very important factor for a lender in deciding what your interest on the loan will be. Equifax, formerly known as The Retail Credit Company, is one of the big three American agencies dealing with obtaining and updating credit information. It has been around for more than a century.

Computers came along and all of a sudden people had access to all kinds of information. Privacy was shattered because their information was on computer and could be accessed by others. This included personal information. The US congress initiated hearings to establish a balance. The Fair Credit Reporting act resulted. This Act granted the loan applicant some rights to make sure that personal information not applicable to a loan application remained personal with help from best 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.

Equifax became an international company as it grew over time. It now operates worldwide. The company's annual revenue tops $1.5 billion and more than seven thousand people in 14 countries work for it. Delivery of information to the business sector has always been its main focus. It is a trusted name in many different industries. Banks and other financial institutions count among its customers as do retailers, health care providers, insurance companies, government agencies and others.

Today, Equifax does far more than just sell credit reports. It also provides demographic data, business analytics, as well as software. It provides detailed information of payment history to loan providers. In making a decision, their clients have all the necessary data to make informed decisions whether to grant a loan or not. Businesses may also use this information to decide what products or package to offer a potential customer into account when deciding what services or products to offer as well as the applicable terms.

The firm also offers various products aimed at consumer assistance. Some of them can also help an individual discover unauthorized activity such as fraud or identity theft. Debt Wise is a tool you can use to try and get out of a debt situation quicker. The credit lock service gives the individual a greater degree of control when it comes to allowing people to view information. It is a good way of keeping unauthorized eyes out of files that they really do not need to see.

The law requires credit agencies to make available one disclosure file on their credit to US citizens every year. This is free and may be obtained online. This file contains valuable information and should be thoroughly inspected by the consumer regularly.

It is really not that difficult to have a good credit rating. The secret can be summarized in three words. Pay your bills. If you do find yourself in an unfavorable position, good advice is to avoid so called repair companies. They are usually all talk and no deeds.

Through the years, many loan firms and many customers have experienced good service from Equifax for credit monitoring services comparison. It is crucial that you have a reliable firm taking care of your credit details. Do your part by checking your credit report trough Equifax coupons. That way, you will stay out of serious debt and the trouble that goes with it.

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