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 Credit FAQs Fraud FAQs Glossary of Terms |
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CREDIT
PROFILE ISSUES
What is an Equifax Credit Profile? An Equifax Credit Profile refers to a consumer credit file from the Equifax credit reporting system, which is made up of various consumer credit reporting bureaus: some are independent and others are owned by Equifax. It is a picture of how you** (as an individual) paid back the companies from whom you borrowed money, or how you have met other financial obligations. There are usually five categories of information in an Equifax Credit Profile: Identifying Information Employment Information (This is actually the last employment reported to Equifax by credit grantors, who do not usually update this information. It is used for demographic purposes only, not credit decisions). Credit Information Public Record Information Inquiries What is NOT included on your Equifax Credit Profile: Your race Your religion Your health Your driving record Your criminal record Your political preference Your income **Note: Credit information is maintained on an individual basis. If you are married, the information contained in the Credit Profile for your spouse may not match your Profile identically as certain accounts may have been established in your name or your spouse's name only. If your spouse is interested in obtaining a copy of their Credit Profile or the Sentinel® Credit Monitoring Service, that order should be placed separately by your spouse. Prices quoted for the Credit Profile and Sentinel® products are for individual orders. Can I see a sample profile? Yes, please click here. How can I see my Equifax Credit Profile? You can see your Equifax Credit Profile just by ordering it today
according to the specified "Terms and Conditions."
Order by Internet You may order your personal Equifax Credit Profile online by clicking here. We secure the confidentiality of your order by "electronically scrambling" the data. Your Equifax Credit Profile will be mailed to you within 72 hours. For more information, read What about online Security?
Order by Phone You can order by phone by calling Equifax if you have a touch-tone phone. You will be asked to provide information on our interactive telephone system. Your Equifax Credit Profile will be mailed within 72 hours. Call 1-800-997-2493.
Order by Mail You can order by writing to:
Please include the following information when writing, and enclose payment (check or money order as per fee schedule on the Order Disclaimer) with your order:
1Note: Credit information is maintained on an individual basis. If you are married, the information contained in the Credit Profile for your spouse may not match your Profile identically as certain accounts may have been established in your name or your spouse's name only. If your spouse is interested in obtaining a copy of their Credit Profile or the Sentinel® Credit Monitoring Service, that order should be placed separately by your spouse. Prices quoted for the Credit Profile and Sentinel® products are for individual orders. Who can see my Equifax Credit Profile? The Fair Credit Reporting Act (FCRA) outlines specifically who can see your Equifax Credit Profile. Businesses must have a "legitimate business need," and a "permissible purpose," as stated in the federal law to obtain your credit file. Otherwise, only you, and only those who you give written permission, can access your credit files. Your neighbors, friends, co-workers, and even your family members cannot have access to your Equifax Credit Profile unless you authorize it. Some examples of those who can access your credit files are: Credit grantors Collection agencies Insurance companies Employers Any company that receives a copy of your Equifax Credit Profile will be listed under the "Inquiry" section of your report. If you become aware that your credit files have been obtained outside the FCRA guidelines, contact: Equifax P.O. Box 105069 Atlanta, GA 30348 How can I check the status of my Equifax Credit Profile ordered online? If you have not received your Equifax Credit Profile by mail after ordering it online, here is what you should do: After five (5) days, go to: CLICK HERE! for information on how to "Check the Status." of your order. How can I correct a mistake in my Equifax Credit Profile? Complete the Research Request Form that is sent with your Equifax Credit Profile, and give details of the information you believe is incorrect or call the 800 number listed in the top right hand corner of your Equifax Credit Profile in order to speak with an Equifax Information Consultant. We will then check with the credit grantor or public record office to see if any erroneous information has been reported. Information that cannot be verified within thirty (30) days will be removed from your file. If you and a credit grantor disagree on any information, you will need to resolve the dispute directly with the credit grantor who is the source of the information in question. If the item on your credit profile is correct, but you disagree with it being reported, you may send Equifax a brief statement for inclusion on your report. It is not to exceed 100 words (200 words for the residents of the state of Maine). It will be disclosed each time your Equifax Credit Profile is accessed. If the reinvestigation results in changing or deleting the information you are concerned about, you may request an updated Equifax Credit Profile to be sent to any creditor that received your credit profile in the past six (6) months (12 months for Colorado, New York and Maryland residents) and/or any company which received your Equifax Credit Profile in the past two (2) years for employment purposes. What is an "inquiry" and how did it get on my Equifax Credit Profile? An "inquiry" is a listing of the name of a credit grantor, or authorized user who has accessed your credit file. Each inquiry is posted to the credit file so you know who has obtained a copy of it. Credit grantors post an inquiry before offering you a pre-approved credit card application. These are listed as "promotional" inquiries on your credit file because only your name and address were accessed, not your credit history information. They are NOT sent to credit grantors or businesses for reasons of credit reporting. They are listed for your informational purposes only. What about online Security? You can order your Credit Profile online with confidence and security in the United States with Netscape and Microsoft browsers since they support the recommended 128-bit key length encryption SSL (Secure Sockets Layer). International versions support 40-bit encryption. Download Netscape Navigator 1. Fill out the "Netscape US--Only Software Eligibility Affidavit." 2. Type in the required information and click "I declare that the above is true." 3. Choose the version of Netscape for your operating system and click the start download button. (All US versions at this site have 128-bit encryption). Download Microsoft Internet Explorer 1. Select your operating system and follow the download instructions. 2. Select the version of Internet Explorer. (All US versions at this site have 128-bit encryption.) 3. Select a download site. Once you have downloaded the file, please double-click it from File Manager (Windows 3.1), Windows Explorer (Windows 95 and Windows NT), or just double-click it (Macintosh) to install. UNIX users will need to uncompress the file by typing "gunzip-N [filename]". How can I tell which version of an Internet browser I am using? Whether you're running Netscape Navigator or Internet Explorer, simply select "Help" from the Menu Bar, then click on "About Netscape Navigator" or "About Internet Explorer." You'll get a screen that gives you the version of your browser. How can I tell if my browser supports SSL and 128-bit encryption? If you have Netscape Navigator, simply select "Help" from the Menu Bar, then click on "About Netscape" and you will obtain a screen of information including the version. If you see language referring to "International Security," then your browser DOES NOT support 128-bit encryption. If you see language referring to "U.S. security" or "Domestic security," then your browser DOES SUPPORT 128-bit encryption. If you have Internet Explorer, go to a secure page (a secure page uses the prefix "https"). With your cursor positioned anywhere on the secure page, click on file, and then properties. Click on the tab marked "Security" and look under the heading "Privacy strength." It will show whether you have 128-bit or 40-bit encryption. How can I tell if my online session is encrypted? If you are running Netscape Navigator, look in the lower left-hand corner of the browser. You will see a small key as an indication that your session is running in an encrypted mode. When your session is not encrypted you will see a broken key. If you are using Internet Explorer, you will see a lock icon displayed in the bottom right corner of the window when you are on a secure page. How can I check if 128-bit encryption is enabled? If you are using Netscape Navigator, it is possible that your 128-bit encryption feature may be disabled. To verify, select "Options" --> "Security Preferences"-->"General." There should be a check next to the "Enable SSL v2." Click on the button "Configure." The "Configure Ciphers" window will appear. Make sure the first item ("RC4 encryption with a 128-bit key") is checked, then click on "OK." Microsoft Internet Explorer does not allow you to turn the security features off. Does Equifax use consumer credit information to market consumer products and services, or sell my name to direct mail companies? Equifax does not do this. However, we do provide information to credit card companies and lenders for their offering of pre-approved credit to consumers. If you prefer not to receive such offers, call us toll-free at 1-800-556-4711, or send your request to: Options Equifax Inc. P.O. Box 740123 Atlanta, GA 30374-0123 Please include your complete name, full address, Social Security number, and signature. Equifax will remove your name from "pre-approved credit card orders," and share your request with the other two major credit reporting agencies. Why did Equifax turn down my request for credit? Equifax does not recommend that your credit application be accepted or rejected. All we do is maintain records and issue reports to credit grantors. Each creditor reports the status of your account according to your manner of payment. Credit grantors make credit decisions based on your payment record, and their own credit standards. How long do you keep my credit information? Payment in full does not remove your payment history. The length of time information remains on your credit file is shown below:
How does Equifax get its information? Information in your Equifax Credit Profile is supplied to Equifax primarily by the same companies that have granted you credit in the past, and those with whom you have open accounts. Here are some of the sources of our information:
What Equifax Doesn't Do Equifax Credit Information Services does NOT recommend that your credit application be accepted or rejected. Credit grantors make that decision based on your payment record and their own individual criteria. Thus, your credit application might be approved by one creditor but rejected by another based on the same credit profile. What if I disagree with you? What if an item on my credit profile is correct, but I disagree with it being reported? For those items in your credit profile which you feel deserve further explanation (such as an account that was paid late due to the loss of job, military call-up, or unexpected medical bills), you may send a brief statement to Equifax, not to exceed 100 words (200 words for residents of the state of Maine). The information will be placed on your credit profile and will be disclosed each time your credit profile is accessed. What is the Equifax Consumer Bill of Rights? Equifax believes that consumers should have the following rights:
Should I use one of those companies that promise to help "fix" my credit? It's your choice. However, beware of companies that promise to remove accurate information from your credit file. Accurate information cannot be removed from a credit file. There is nothing they can do for you that you cannot do for yourself by contacting Equifax directly. Only time will heal a delinquent credit history. What should I do if I believe I have been a victim of credit fraud? There are several types of credit fraud, many of which involve the illegal use of your credit card numbers, or setting up new accounts in your name. If you suspect ANY improper or illegal activity is taking place, immediately contact each of the credit grantors with whom you have credit. If they determine that you are indeed a victim of credit fraud, they will give you the phone number to the Equifax Fraud Department. Please contact us immediately so that we can investigate the fraud. How does divorce affect consumer credit? A divorce decree does not supersede the original contract with the creditor, and does not release you from legal responsibility on any accounts. You must contact each creditor individually and seek their legal binding release of your obligation. Only after that release can your credit history be updated accordingly. If I do have credit problems, is there some place where I can get advice and assistance? Yes, you may obtain assistance from various organizations. For example, Consumer Credit Counseling Service (CCCS) is a non-profit organization that offers free or low-cost financial counseling to help people solve their financial problems. CCCS can help you analyze your situation and work with you to develop solutions. There are more than 1,200 CCCS offices throughout the country. Call 1-800-388-2227 to get the telephone number of the office nearest you, or visit this website: www.cccsatl.org. What if a friend, relative, or companion makes charges on my credit cards? If you co-sign a loan, or give anyone authorization to charge to your credit cards, YOU are still responsible for the debt. If they promise to pay you back, the debt is still your responsibility, even if they leave or don't honor their commitment to pay you or the credit grantor. If you default on any such obligation it will become part of your credit file. The credit grantor may also try to obtain payment through collection agencies, or sue you for the balance due. Why do we need credit reporting? Credit reporting is needed because it provides the information that helps consumers make purchases, secure loans, pay for college educations, and manage their personal finances. Credit reporting makes it possible for stores to accept your checks, banks to offer credit and debit cards, businesses to market products, and corporations to better manage their operations to benefit the world's economy. Since 1899, Equifax has provided reliable and accurate credit information in a way that has earned the trust and confidence of businesses and consumers. We believe it is important for you to review your Equifax Credit Profile at least once a year to reduce the element of surprise, and to keep you informed of the current status of your credit worthiness. What is the Fair Credit Reporting Act? The Fair Credit Reporting Act (FCRA) is the federal law regulating credit reporting companies like Equifax. It has been in effect since 1971. A revised FCRA became effective October 1, 1997. This law protects consumers' rights, such as the right to review and contest information in their credit profiles. It also specifically defines who can access the information in a credit profile, and how you are notified of this activity. You may obtain a copy of the FCRA from the Federal Trade Commission. What is in my credit file that keeps me from obtaining credit? We do not know, since Equifax does not grant credit. Each credit grantor has established criteria for making credit decisions. Your credit may appear to be perfect, but having too much credit or too many outstanding balances are examples of why your request for credit might be declined. Sometimes the decision is not even based directly on the credit file; for instance, you may not have been at your current residence or in your present job long enough. If you have any questions about why you were not approved for credit, you may want to contact the credit grantor who turned you down and ask them for an explanation. |
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