Furnishing Consumer Data to Equifax

Who can supply consumer data to Equifax and how to do it
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?

Specific Details Regarding Rental Data

Please note that Equifax policy may vary from other CRA's rental data reporting policy. Requirements include but are not limited to:
  • Consumer ID Authentication
  • 3rd Party Verification of Lease and Terms
  • Report in Metro 2 format or Equifax rental format
  • Reporting of both positive and negative payment history (negative is 30 days +)
  • Monthly verification of payment (retaining proof of verification in event of audit by Equifax)
  • Reporting for the term of the lease
  • Use of e-OSCAR for consumer dispute management
Why Report?
There's a Win-Win When You Contribute Data To Equifax.
Non-Traditional Credit Data and DataX
Find opportunities by providing valuable insights into non-traditional consumers

Requirements for Consumer Data Furnishing


Thank you for your interest in becoming an Equifax data contributor. In order to report your consumer account data to Equifax, you must meet the following minimun requirements:
 
  • Data providers must send data electronically in Metro 2® format-requires Metro2 Sofware for formatting. For more information on the Metro 2® format, please visit www.cdianline.org.
  • The entire portfolio must be reported every month (e.g., all current, delinquent and charged-off accounts).
  • Data Furnishers that have fewer than 500 records to report each month may be required to subscribe to Automated Data View, a tool that allows furnisher to review their tradeline as it appears on the Equifax credit report, at a subscription fee of $50.00/month.
  • Use of e-OSCAR for managing off cycle updates and consumer disputes. For more information on e-OSCAR, please go to www.e-Oscar.org.
See our FAQs →
 

Become an Equifax Data Contributor

Contact us for more information.