Credit scores and reports are evolving every day. There are actually several credit bureaus that are keeping your scores today but only one name stands out as the leader in the industry and that is Equifax. Equifax has been around for years providing consumers as well as creditors with the information about credit that they need.
When you want to check your credit, you can visit their website and often you can get the Equifax free credit report, no credit card necessary. The Equifax free credit report, no credit card report will be a synopsis of your overall credit picture. Sometimes this information is enough for consumers but most often the consumer is looking for more details than the Equifax free credit report, no credit card will provide.
Now given the current economic conditions all over the world and how they differ, the credit industry has taken a serious blow. Many creditors have pulled in the reins on credit application approvals, even lowered limits to their current customers, regardless of their past credit history. This too can adversely affect credit ratings if not reported properly to the bureaus. This is one reason an Equifax free credit report, no credit card necessary, may not be the option for you.
Think in terms of a service you would provide. If you were providing it for free, how much would you actually be willing to give your customer before you needed to implement a charge? Just enough to get them interested in the entire service you had to offer. That’s exactly what these companies do, and Equifax is no different. They have to make money just like anybody else.
Their funding comes from additional perks and benefits offered to you once you’ve seen your summary report. The most popular service offered by credit report companies is the monitoring services they can provide the consumer. This will alert the consumer if there’s a change to their credit report. Some systems will notify the consumer immediately, others notify on a monthly basis. It all depends on the level of service you are willing to pay for.
Do however be aware that some of these subscriptions can be time consuming and tricky to cancel. So when you are signing up for something that will cost you a monthly fee, print out all the instructions and contact information to cancel the service should you desire to do so. Be prepared to spend a good amount of time on the phone when you do try to cancel, you’re taking away their livelihood and they’re going to fight you every step of the way to keep your business.