What is Equifax?
Equifax is a credit card reporting agency providing comprehensive facts and reports to clients regarding credit reporting. It used to be called “Retail Credit Company” back in 1899 when it was founded. It has its headquarters in the city of Atlanta in Georgia, USA.

As with the other two credit reporting agencies (Trans Union and Experian), Equifax compiles credit reporting data from various sources. Through Equifax membership, one can access his/her report online and have it printed instantly if needed. A member can also get his FICO or Equifax Credit score along with his/her reports. This FICO score is important because it pertains to the credit-worthiness of a member or applicant. FICO scores are used by lenders in determining the credit limit and/or interest rate given to a particular applicant. But aside from the members and cardholders, insurers and lenders also make use of the Equifax reports to gain information on the credit history of a particular applicant. For only around USD15 dollars a month, many consider the Equifax report service very affordable.

Aside from credit monitoring, Equifax can also help members who fall victim to identity theft. It also provides assistance in debt management. This is done through various tools like Plan Progress Reports, Fast Pay Plan Wizards, and Alerts. Through these tools, a member is asked to pay a lump-sum amount monthly and Equifax will distribute this among debtors. Members will then be able to manage their debt quickly through this process.

Among the three credit reporting agencies, Equifax is the oldest and is still considered very reliable today. But aside from experience and reliability, many also like Equifax’ affordability. For a minimal monthly payment, members can have credit reports almost instantly. Many also like the idea that members get notified when there are updates on his/her particular report. This is certainly very convenient for some, as this will guide them in making credit-related decisions.