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So what is myFICOs opinion on equifax?

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Anonymous
Not applicable

So what is myFICOs opinion on equifax?

In the past and in the future?

Message 1 of 8
7 REPLIES 7
Anonymous
Not applicable

Re: So what is myFICOs opinion on equifax?

I really have no opinion on Equifax.  I didn't free my Equifax because it would create more problems than necessary for me.  I do monitor my reports so if an inquiry came in that I didn't approve of, I'd deal with it then.

 

Equifax is like any major financial corporation that has data to secure: they did a poor job, they'll be penalized for it, and then they'll go on to doing a poor job again until they're caught again.

 

In my own experience, in 25 years of building and rebuilding credit, Equifax was the easiest to deal with every time.  My EQ score is the highest because they've never said no to my requests yet, but I do write really good requests.

Message 2 of 8
AverageJoesCredit
Legendary Contributor

Re: So what is myFICOs opinion on equifax?

If Equifax was an animal it would be a whale......

It blowsSmiley Wink
Message 3 of 8
AverageJoesCredit
Legendary Contributor

Re: So what is myFICOs opinion on equifax?

Tcbofade, is that you? Smiley Wink
Message 4 of 8
kilroy8
Community Leader
Super Contributor

Re: So what is myFICOs opinion on equifax?

Once upon a time, Equifax was primarily viewed as a service used mostly by auto lenders. That was back in the '80s when I was just starting out. All the auto lenders used EQ, almost exlusively. Now it seems a lot of CU's use them as well. Maybe because CU's do a lot of auto lending? I think it is still the least used of the big 3 in any case.

Message 5 of 8
Anonymous
Not applicable

Re: So what is myFICOs opinion on equifax?


@AverageJoesCredit wrote:
If Equifax was an animal it would be a whale......

It blowsSmiley Wink

AJC Equifax is like  vacuum cleaner.....

 

       It sucksSmiley Wink

Message 6 of 8
iced
Valued Contributor

Re: So what is myFICOs opinion on equifax?

My opinion: Equifax is part of an oligopoly, so they can pretty much do anything and not go anywhere. Their stock price has already recovered half of their losses from the breach earlier this year, and I imagine by this time next year your typical American won't even remember what happened.

Message 7 of 8
Revelate
Moderator Emeritus

Re: So what is myFICOs opinion on equifax?


@kilroy8 wrote:

Once upon a time, Equifax was primarily viewed as a service used mostly by auto lenders. That was back in the '80s when I was just starting out. All the auto lenders used EQ, almost exlusively. Now it seems a lot of CU's use them as well. Maybe because CU's do a lot of auto lending? I think it is still the least used of the big 3 in any case.


EX > EQ > TU.

 

Had different regional affinities and EX / EQ were West and East coast respectively and the bulk of the population lives in those.

 

You get some oddities like USAA that uses EQ, principally because dealing with a lot of military stationed on the coasts or nearby, they could've picked one or the other and been set.

 

This was back in the old days when it cost a lot more both in time and real money to report, so it was regionalized as many places only reported to a single bureau.  These days with most places reporting to all 3, it's less of an issue.




        
Message 8 of 8
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