Equifax
What is Equifax?
This is the name of a consumer credit reporting agency, based in Atlanta, Georgia, in the US. Founded in 1899, the organisation serves customers all over the world. It is listed on the New York Stock Exchange (NYSE).
Where have you heard about Equifax?
If you have ever had your credit rating checked when applying for a loan, mortgage or even mobile phone contract, the service may have been performed by Equifax, or a competitor such as Experian or TransUnion.
What you need to know about Equifax.
The company specialises in business-to-business services, collecting financial data on consumers and selling it to other firms when the relevant person applies for a loan or to buy a product. These credit reports give detailed information on a individual's payment and credit history, indicating their ability to repay any future loan. This allows the business to make an informed decision about whether to lend the individual money, for example, and on what terms. Equifax also allow consumers to track their own data to discover whether they have been victim of fraud, such as identity theft.
Find out more about Equifax.
For more information on consumer credit scores, read our definition here .
