Equifax Credit Report and ScoreEqifax credit information and score
If you apply for a credit credit line or mortgages, it can decide whether your request will be approved and what interest rates you will pay at the end.
If you apply for a credit/debit card or mortgages, it can decide whether your request will be approved and what interest rates you will pay at the end. It is important, however, that if you are denied credit, you find out why you were denied it before making another request. Which is a credit reference?
The credit benchmarking procedure allows creditors to make immediate choices when applying for credit and is a procedure involving both creditors and credit bureaus such as Equifax. It shares information about a person's finances in order to evaluate their credit histories and their capacity to pay back loans in the near-term.
Equityfax and Fair Isaac launches credit scoring services
The Equifax Inc. and myFICO.com, a subsidiary of Fair Isaac Corporation (NYSE:FIC), today announce the introduction of Score Watch, the most effective consumer credit watcher. Score Watch allows customers to monitor their FICO(R) loan value and see how its value affects the interest rate likely to be charged by mortgages, car and home equity providers.
The Score Watch application is designed to help customers actively administer their FICO score - the score used by most creditors - and determine the right timing for a larger buy. The Score Watch application continually tracks the subscribers' Equifax credit memo files for changes that may impact their FICO results. As soon as a modification is identified, Score Watch notifies the subscriber via e-mail or text messaging and recommends that they go to a secure website for a full declaration of the modification in creditworthiness.
The Score Watch warning also displays the current rating if the subscriber's creditworthiness changes significantly due to changes in their credit history. The Score Watch subscription can also set a goal rating and be alerted when they achieve it, a value proposition for those who want to get a home credit, car credit or home mortgages at a lower interest level.
The Score Watch is immediately available and will cost $7. 95 per monthly or $79. 95 for 12 monthly periods. "The Score Watch is the only watchdog to help customers verify and administer the FICO creditworthiness that most creditors use," said Cheri St. John, Fair Isaac's VP of Scooring and Consumption Solution.
"This provides a powerful and accessible instrument for giving customers the most important credit rating indicator. "Equifax is dedicated to providing customers with the tools and expertise they need to improve their credit and achieve their business goals," said Paul Springman, Equifax CTO.
"Score Watch gives the consumer easy entry to an important instrument to prepare for a larger buy - an important part of the design cycle. "Score Watch allows users to take full control of a number of functions, some of which include Provides information up-to-date on a day-to-day basis on actual interest rate averages for various credit categories and the credit risk bands that currently receive these interest rates.
Secure website where members can follow how their scores have evolved during their subscriptions, receive credit rating advice and get explanation of the issues affecting their FICO score. E-mail and Wi-Fi alerting of a customer's score changes that are likely to impact an interest level.
Possibility for subscription customers to define the targeted FICO value and be informed when they meet it. Score Power(R) report containing an FICO creditworthiness summary of the customer and a copy of the Equifax Credit Report(TM). The Score Watch is the second joint Fair Isaac and Equifax development of a consumers' solution that combines Fair Isaac's FICO scanning and Equifax's credit record watch capabilities.
Equifax and Fair Isaac use this partnership to deliver a set of tool kits and resource to educate customers about the value of credit scoring and how their behaviour can impact their credit over the years. Equifax and Fair Isaac launched Score Power, an on-line credit rating system in 2001 that provides Fair Isaac's FICO credit rating and the Equifax credit report.