1. Basic Plan: This plan offers free credit monitoring, identity theft protection, and fraud prevention services.
  2. Premier Plan: This plan offers more features such as credit score monitoring, fraud prevention, and identity theft protection.
  3. Elite Plan: This plan offers even more features such as credit score monitoring, fraud prevention, and identity theft protection.

Equifax premium products offer a comprehensive family plan that includes Equifax complete, Equifax value, and Equifax core credit. The products also include a credit monitoring service.

Equifax only Lenders

The Pentagon Federal Credit Union is the only credit union in the United States that exclusively uses Equifax. This credit union is challenging to predict which credit bureau a certain lending firm will use because these businesses won’t publicly state which bureau they work with. Penfed was founded in 1935, has over $25 billion in revenue, and ranks third in the United States. It is generally impossible to determine which credit bureau a certain lending firm obtains its reports from because loan agencies rarely use data from a single credit bureau.

Credit Card Companies That Use Equifax

Discover

Chase

Citi

Citi has a variety of credit cards, including the Citi Double cash card, Costco Anywhere Visa card by Citi, the Citi Diamond Preferred Card, the American Airlines AAdvantage mileup card, and so on. Each card has its own advantages and benefits. Clients can earn thousands of points if they spend $1,500 within the first three months of opening an account with Citi. Citi uses Experian for their credit card application processes, but they also pull records from Equifax and TransUnion if there are any gaps in a client’s credit history. ..

HSBC 

HSBC is a global banking company that operates in the Indo-Pacific region and other regions of the world. They have a variety of credit cards, such as the HSBC Elite Credit Card. One of their advantages is that they offer three rides per month and receive a $5 Lyft App credit. Recently, HSBC UK created the first live use case of open banking for credit applications using the InterConnect platform from Equifax. Previously, HSBC used Experian credit bureau.

USAA

The USAA Rate Advantage Visa Platinum Credit Card, USAA Preferred Cash Rewards Visa Signature Credit Card, and USAA Rewards Visa Signature Card offer cardholders an advantage when applying for credit. The cards send credit card information to all three of the official credit bureaus, but USAA pulls 99% of its credit records from Equifax. This allows cardholders to get a better rate on their loans and to have more money available for spending.

Reason Why Equifax Lenders Use More Than One Credit Bureau

A credit bureau’s scoring model is different for each geographical area. To get a holistic view of their customer’s credit score, an average score from different credit bureaus is needed.

Conclusion

A credit bureau is a system that collects information about individual borrowers and sells it to other companies who are interested in knowing about your borrowing behavior, so your borrowing history is the best format to determine what will become of their money. The credit bureau has the information money lending agencies need to measure their risk and buy from them. Records show that Equifax is first among equals, and Penfed is the only one that pulls its records from Equifax only Lenders.

The credit bureau does not ask for your Social Security number, date of birth, or other personal information. ..

The credit bureau does not ask for your income, ethnicity, political view, and gender. ..

There are a few things you can do to improve your credit score. First, make sure you keep up with your payments on your credit cards and other loans. Second, make sure you have a good credit history. Finally, if you need to borrow money in the future, try to get a loan with a low interest rate. ..

  1. Keep your credit utilization rate low. This will help keep your credit score high and limit the amount of new accounts you apply for.
  2. Keep your old account open. If you have an old account, keep it open so you can use it as a reference if you ever need to apply for a new account.
  3. Pay on time. If you don’t pay your bills on time, your credit rating will go down and it may be harder to get a loan or get a job.
  4. Limit applying for a new account. Don’t apply for too many new accounts in one day, or your credit rating will go down and it may be harder to get a loan or get a job.