Equifax is one of the largest three U.S. credit report bureaus. You probably already knew that, but did you know that Equifax keeps personal credit information on people living in many different countries in North America, Latin America and Europe? Not only does Equifax keep credit information, but it also collects demographic and marketing information on millions of people and businesses.
Like Experian and Trans Union, Equifax offers credit reports directly to consumers as well as to potential creditors. Don't worry, though; Equifax won't just give your credit report to anybody who asks for it. Equifax customers pay for the privilege of accessing your credit report and you can easily find out who is asking to know about your credit.
Many insurance companies pay Equifax for information on consumers to help them determine the costs of their insurance premiums. Sometimes these insurance companies also ask Equifax for credit information on people who make insurance claims.
Equifax obeys the conditions set forth in the Fair Credit Reporting Act (FCRA), a U.S. law that protects credit report information. You deserve to know that your personal credit data is private and will be properly protected! If an organization or individual asks Equifax for your credit report and is not authorized to do so under the provisions of the FCRA, they cannot access that private information. If they are allowed to access your credit report, companies or individuals may also be required by the FCRA to notify you if they take some kind of negative action related to the report (such as denying you a job or a home sale because of your credit rating).
Visit the Experian company website to learn more information about this major credit bureau. Follow the links on this page for more information related to credit.