Equifax Credit Bureau

Founded in 1899, Equifax credit bureau is now a leading information and marketing broker. Used by both businesses and financial companies, the Equifax credit bureau is an important resource that you can use to your benefit.

This page:

    • Describes how Equifax credit bureau operates
    • Explains how lenders use Equifax's services
    • Gives advice on using Equifax to your benefit

How Equifax credit bureau works

Equifax credit bureau collects information from public records, retailers, collection agencies, and banks.

Then, by using well-tested models, Equifax predicts the likelihood you will repay a loan based on your financial history. Finally, lenders use this information in deciding whether to issue you a credit card or approve a loan.

A few more details about Equifax credit bureau

The value-added information that Equifax credit bureau compiles and interprets is essential to many varied people and different companies. Financial establishments want to know how you have handled money in the past so they can try to figure out how you will handle loans in the future.

Retail companies want to know what you have bought in the past so they can figure out how to make it easy for you to see and buy the type of products you will spend money on in the future. Other people interested in your buying and lending habits include government agencies, brokerage firms, health care providers and utility companies, to name a few.

How Equifax credit bureau can help you

Individual consumers' concerns are also important to Equifax. Your credit report and credit score often dictates whether you can secure a loan or are approved for a credit card. Therefore, erroneous information in a credit report can be devastating to your hard earned financial credibility.

Equifax credit bureau can assist you in correcting errors on your credit report. If you want to contest a fraudulent charge or a faulty claim, Equifax is particularly helpful. Filling out a form on their website, begins the investigation process and they typically correct the error or provide more details about the charge within a couple weeks.