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Profile
About Equifax
Equifax, called
the Retail Credit Company until its name change in 1971, was the only
company originally formed to be a database on the personal credit
histories of U.S. consumers. Founded in 1899, by 1920 the company
had offices throughout the U.S. and Canada, and by the 1960's was
one of the nation's largest credit bureaus.
Prior to 1971, information collection and distribution was not regulated,
and rumors spread that the company was collecting information about
virtually every phase of a person's life. Thus, when the company moved
to computerize its records, the U.S. Congress held hearings which
resulted in the Fair Credit Reporting Act in October of 1971.
Professor Alan Westin of Columbia University was one of the most vocal
opponents of computerizing credit scores. He believed that computerization
would make access to private information accessible to far too many
people and would threaten civil liberties, privacy, and a man's very
humanity. His contention was that computerization would make it even
more difficult for a person to escape the mistakes of their past.
Interestingly, prior to the Fair Credit Reporting Act, only negative
information was kept. In addition, credit reporting bureaus did collect
and keep lifestyle information from newspapers and other sources.
The new practice of keeping positive information as well eventually
led to credit scoring, in which both positive and negative histories
are taken into consideration.
Perhaps the best known scoring method is the FICO score. This was
developed in 1989 as a joint project between the Fair Isaac Corporation
and Equifax.
Along with credit reporting, Equifax offers screening services. Credit
reports and credit scores are available through lenders, and directly
to consumers through on-line sources like CreditScoreQuick.com
Equifax Disputes and Investigation Methods
The most efficient method to initiate an investigation. Option to
create a dispute online. Write to: P.O. Box 740256, Alanta, GA 30374
or call (800) 800-685-1111 for details. Dispute
Equifax Here
Equifax
Credit Watch™Gold and FICO Score
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your credit and ensure the accuracy of what’s being reported
about you in all 3 nationwide credit reports.
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Equifax
is a registered trademark of Equifax Inc., Atlanta, Georgia. All rights
reserved.
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