ATLANTA, GA – Equifax Inc. (NYSE: EFX) is offering a new tool for credit-curious Americans who want to learn more about how their credit and debt stacks up. The latest addition to its suite of Personal Solutions products, Equifax Credit Rankings is Equifax’s first consumer credit comparison tool.
“Consumers that know the factors that can impact their credit rating are better equipped to manage and protect their financial well-being,” said Paul Springman, chief marketing officer, Equifax. “Equifax Credit Rankings is a powerful new technology that enables consumers to go beyond the basics of their credit report to compare the strength of their profile with average credit statistics.”
Anyone who uses Equifax Credit Rankings has the ability to rank his or her own credit information against compiled averages of similar credit information from a local zip code or from around the U.S. Using aggregated data, Equifax Credit Rankings offers credit comparison categories such as mortgage payments, auto loan balances, total debt, credit card debt and number of open credit accounts and late payments.
For example, using Equifax Credit Rankings to compare the average mortgage and auto loan balances of consumers in different zip codes provides the following snapshot of credit trends in different areas of the U.S.:
- Average mortgage balance in the Los Angeles 90210 zip code is $454,540 compared to $133,359 in the Reston, VA 20193 zip code
- Average auto loan balance for the Detroit, MI 48211 zip code is $9,400 compared to $46,236 in the San Francisco 94152 zip code
Equifax Credit Rankings is part of a portfolio of personal solutions designed to enlighten, enable and empower consumers to take control of their credit and manage their financial well-being. Consumers have the flexibility to learn about and purchase credit reports, credit scores and monitoring tools via mail, phone, fax and over the Internet. When consumers purchase their Equifax Credit Report™, they now have the option of taking advantage of Equifax Credit Rankings and gaining valuable insights into how their credit compares to U.S. consumers everywhere.
For more information about Equifax Personal Solutions and Equifax Credit Rankings, visit www.equifax.com.
About Equifax
Equifax Inc. is a global leader in turning information into intelligence. For businesses, Equifax provides faster and easier ways to find, approve and market to the appropriate customers. For consumers, Equifax offers easier, instantaneous ways to buy products or services and better insight into and management of their personal credit. Equifax. Information that Empowers.