Solutions for Consumers to Better Monitor Their Financial Health
EQUIFAX IS COMMITTED TO EMPOWERING PEOPLE IN THEIR FINANCIAL LIVES AND WANTS TO MAKE IT AS EASY AS POSSIBLE FOR CONSUMERS to understand how they can monitor their financial health, including understanding what tools are available to them to do so.
As a consumer monitors their financial health, it is important for them to first understand what a credit score is. A credit score is a three-digit number, typically between 300 and 850, designed to represent a consumer’s credit risk, or the likelihood they will pay their bills on time. Creditors and lenders consider a consumer’s credit score as one factor when deciding whether to approve an individual for a new account. Credit scores may also impact the interest rate and other terms on any loan or other credit account for which one qualifies.
It is also important to understand how credit scores are calculated. Payment history, the number and type of credit accounts, a consumer’s used vs. available credit and the length of their credit history are factors frequently used to calculate credit scores. Consumers should also understand that they have more than one credit score. Equifax encourages consumers to review their credit report regularly. If a consumer identifies information that looks to be incorrect or inaccurate, they should file a dispute.
Aparna Shah leads the Direct to Consumer Business at Equifax. As she states: “Knowledge is one of the most valuable assets for any consumer on the road to reaching their financial goals.”
Equifax is proud to offer educational tools and resources, like the Equifax Learn video series, that can help people gain a better understanding of why credit is so important, ultimately empowering them to take control of their financial future.
Equifax provides a range of free and premium solutions that enable consumers to regularly monitor their credit health. One of those solutions is Equifax Core Credit™, a free service that provides monthly access to an Equifax credit report to help consumers better understand and monitor their current credit position. For consumers that would like to check their credit score more often, there is Equifax Credit Monitor™, a budget-friendly option that provides a consumer with daily access to their VantageScore credit score as well as the ability to create customized alerts to be notified if there are key changes to their credit score.
Equifax also recognizes the growing problem of identity theft, when someone gets access to or steals a consumer’s personal information. The thief can then use this information to open credit accounts in their name. In some cases, they can even steal benefits for employment, insurance or housing. Equifax ID Patrol™ is a solution that can help better protect a consumer’s identity by offering credit monitoring from all three credit bureaus, the ability to lock your Equifax credit report, dark web scanning, identity theft insurance and more.
Consumers can review their Equifax credit report online free of charge via myEquifax or request their credit report through AnnualCreditReport.com. Consumers can also order credit reports by phone at (877) 322-8228 or by mail at the address below.
Annual Credit Report Request Service
P.O. Box 105281
Atlanta, GA 30348-5281
The Equifax credit report will be mailed
within 15 days.
More information about how a consumer’s financial behavior impacts their credit and how credit scores are used in day-to-day life can be found on our Equifax Knowledge Center.