ATLANTA — Equifax Inc., one of the nation's three leading credit reporting bureaus has announced the advent of a new online credit report which the bureau says will allow consumers to more easily understand their credit situation and the factors which have an impact upon it.
Under the new format, the front page of the credit report will now provide a detailed summary of a consumer's credit history, including accounts, debt-to-credit ratios, account age, and potential negative credit histories — all on one page Equifax said. Each section also contains a brief explanation for consumers to help them better understand the information.
Equifax said it regularly enlists research and consumer input to provide feedback on its products and that these consumer panels were the source of the ideas that led to making the Equifax Credit Report even easier and clearer to understand and read.
“We learned that most consumers pulled their credit report to evaluate their own credit standing,” said Steve Ely, President of Equifax Personal Solutions. “To help them achieve that goal, the new format lets them understand what they need to know about their credit at a glance.”
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