Equifax is a consumer credit reporting agency. They collect financial information from a variety of sources about individuals. They provide this information to banks, car dealers, credit card companies and other lending and financial institutions. These institutions use this information in determining credit worthiness. The data compiled by Equifax is used to help lenders and can affect interest rates and other terms of a loan.
Equifax is one of the three biggest American credit agencies; the other two are Experian and TransUnion. Equifax is the oldest though, having been established in 1899. Based in Atlanta, Georgia, they collect and maintain credit reports on over 400 million people all over the world.
At many lending institutions Equifax, and their credit histories on almost every person in America, is The source of information when determining the terms of a loan, especially a student loan. The same is not true at People Capital; using the Human Capital Score lenders have a new tool in considering the terms and rates of a loan. Using data like GPA, standardized test scores, major and university, the Human Capital Score will compute insight into a potential borrower’s credit worthiness.
Check out the Human Capital Score and People Capital’s Peer-to-Peer Lending Platform at www.People2Capital.com and you’ll quickly be on you way to an education you not only deserve but, also, can afford.