Thank you for engaging Equifax for data contribution, and we are eager to learn more about your business and data.
The information contained in the Consumer Credit File is critical to thousands of decisions made every day. The quality and integrity of this data is a top priority. For this reason, due diligence is taken in adding new data providers to the Consumer Credit File.
The National Credit ReportingAgencies manage hundreds of varied data assets. In order to determine if your data is suited for the Consumer Credit File, there are multiple factors considered.
Some examples are:
- Does the tradeline or loan represent an extension of credit?
- To what degree does the tradeline or obligation reflect the actual risk taken by the creditor or other entity?
- Does the furnisher have the appropriate incentives in the place to ensure the accuracy of the data reported?
- Is the data understood, and can it be interpreted with consistency by users of the credit reporting ecosystem?
- Does the tradeline accurately reflect the consumer's performance?