Equifax, Inc. · NYSE:EFX
Equifax — Investor Presentation (March 2006)
24 slides from Equifax's investor presentation, March 2006
Slide 1: Module 3 - Credit Reporting Agencies
MODULE 3 - CREDIT from EQUIFAX REPORTING AGENCIES OBJECTIVES ■ TO LEARN THE ROLE OF EQUIFAX AND OTHER CREDIT REPORTING AGENCIES ■ TO INTRODUCE THE CREDIT FILE AND ITS FUNCTION I’m Cool On Credit 34
Slide 2: Credit File Impact
from EQUIFAX CREDIT FILE IMPACT For Sale YOUR Purchasing a Car Purchasing a Home or Renting an Apartment CREDIT FILE Acquiring A Getting Utilities (Credit • Gas Company Reporting • Cell Phone • Electric Company History) • Home Phone AFFECTS Getting Auto/Life/Homeowners/ A Loan Seeking Employment Fir
Slide 3: Three Main Credit Reporting Companies
THREE MAIN CREDIT from EQUIFAX REPORTING COMPANIES ■ EQUIFAX ■ EXPERIAN ■ TRANS UNION I’m Cool On Credit 36
Slide 4: A Credit File Is...
from EQUIFAX A CREDIT FILE IS... ■ YOUR BILL PAYING HISTORY I’m Cool On Credit 37
Slide 5: Your Credit File Does Not Contain Your:
YOUR CREDIT FILE from EQUIFAX DOES NOT CONTAIN YOUR: ■ Race ■ Religion ■ Medical Information ■ Driving Record ■ Criminal Record ■ Political Preference ■ Income, Checking or Savings Account Information I’m Cool On Credit 38
Slide 6: Personal Identification Information
PERSONAL IDENTIFICATION from EQUIFAX INFORMATION JOHN DOE SOCIAL SECURITY #: 000-00-0000 123 HOME ADDRESS DATE OF BIRTH: APRIL 10th, 1940 CITY, STATE 00000 PREVIOUS ADDRESS(ES) 457 Former Rd., Atlanta, GA 30000 P. O. Box XXXX, Savannah, GA 40000 Last Reported Employment: Engineer, Highway Planning I
Slide 7: Public Record Information
PUBLIC RECORD from EQUIFAX INFORMATION Lien Filed 03/93; Fulton CTY; Case or Other ID Number-32114; Amount-$2667; Class-State; Released 07/93; Verified 07/93 Bankruptcy Filed 12/92; Northern District Ct; Case or Other ID Number-673HC12; Liabilities-$15787; Personal; Individual; Discharged; Assets-$7
Slide 8: Collection Agency Account Information
COLLECTION AGENCY from EQUIFAX ACCOUNT INFORMATION United States Marshals Service (404) 331-6833 Collection reported 02/97 and assigned to United States Marshals Service on 01/97 by Client For account number 123412341234 which is an individual account for the amount of $6,000 with balance $600 as of
Slide 9: Credit Account Information
CREDIT ACCOUNT from EQUIFAX INFORMATION Credit Account Information Company Account Whose Date Last Type of Account High Past Date Name Number Acct Opened Activity & Status Credit Terms Balance Due Reported Macy’s 12341234 Joint 02/94 01/97 Revolving - 90 $4235 50 $243 $0 02/97 days Past Due Citibank
Slide 10: Additional Information
ADDITIONAL from EQUIFAX INFORMATION Additional Information Foreclosure reported 02/97 by Firm Name verified on 02/94 Checking Account reported 02/97 opened on 4/83 closed for reason: non-sufficient funds with amount $500 I’m Cool On Credit 43
Slide 11: Companies That Requested Your Credit File
COMPANIES THAT REQUESTED from EQUIFAX YOUR CREDIT FILE Companies that Requested your Credit File 02/15/97 AR Sears 02/13/97 ACIS 71200003 02/13/97 Rich’s/FACS 02/11/97 Equifax - Update 01/16/97 Macy’s 01/13/97 Equifax - Disclosure 11/18/96 AM Macy’s 10/16/96 PRM - Citibank Visa I’m Cool On Credit 44
Slide 12: Favorable Report Card
from EQUIFAX Favorable Report Card Report Card • Scholarships from the best colleges Math B and universities Science A • Join the best clubs, organizations or Literature A = extra-curricular activities of your History A choice Economics A • Offered employment by Employers Orchestra A after college A
Slide 13: Favorable Credit File
from EQUIFAX Favorable Credit File Credit Report • Receive favorable responses when seeking employment, insurance and Department Store Charge R2 credit Charge Card O1 • Purchase the home and car of your Department Store Charge R1 = choice (based on income) Easy Mortgage Inc. I1 Bank Charge Card R1 •
Slide 14: Unfavorable Report Card
from EQUIFAX Unfavorable Report Card Report Card • Receive few or no scholarships from Math C colleges and universities • Settle for no college education or Science Literature D F = attending a less recognized college History F • Lower paying jobs because of little Economics D or no college educatio
Slide 15: Unfavorable Credit File
from EQUIFAX Unfavorable Credit File Credit Report • Denied employment, insurance Department Store Charge R3 coverage, or credit Department Store Charge R4 • Unable to purchase a home or car Department Store Charge Bank Charge Card R5 R9 = of choice • Pay with cash only; purchase items Easy Mortgage
Slide 16: Knowing Federal Credit Laws
KNOWING FEDERAL from EQUIFAX CREDIT LAWS ■ Equal Credit Opportunity Act - Prohibits the denial of credit because of your sex, race, marital status, religion, national origin, age, or because you receive public assistance. ■ Fair Credit Billing Act - Establishes procedures for resolving billing error
Slide 17: Credit Card Billing Statement
CREDIT CARD BILLING from EQUIFAX STATEMENT TOTAL AVAILABLE AVAILABLE NO. DAYS MINIMUM 1 ACCOUNT NUMBER CREDIT LIMIT CREDIT LIMIT CASH ADVANCE** CLOSING DATE IN BILLING CYCLE PAYMENT DUE PAYMENT DUE DATE 123-45-678 $1,000.00 $238.76 $0.00 08/31/99 29 $23.00 09/15/99 POSTING TRANSACTION REFERENCE 2 DA
Slide 18: Module 4 - Re-establishing Good Credit
MODULE 4 - RE-ESTABLISHING from EQUIFAX “GOOD” CREDIT OBJECTIVES ■ TO LEARN THE DANGER SIGNS OF FINANCIAL TROUBLE ■ TO LEARN HOW YOU CAN GET OUT OF FINANCIAL TROUBLE ■ TO RECOGNIZE HOW TO PLAN A FINANCIALLY SOUND FUTURE I’m Cool On Credit 51
Slide 19: Causes of Financial Problems
CAUSES OF from EQUIFAX FINANCIAL PROBLEMS ■ Overspending ■ Unemployment Downsizing = Unemployment ■ Underemployment and Underemployment ■ Medical Expenses/Illness ■ Divorce I’m Cool On Credit 52
Slide 20: Warning Signs of Credit Trouble
WARNING SIGNS OF from EQUIFAX CREDIT TROUBLE ■ Charging credit cards to the limits, then applying for new ones ■ Using Cash Advances or credit cards to pay for essential items, like groceries ■ Using cash advances from one card to pay for another ■ Can only afford to pay the minimum payment WARNING
Slide 21: Money Problems? What To Do
MONEY PROBLEMS? from EQUIFAX WHAT TO DO ■ Develop a budget ■ Reduce your debt ■ Increase your income ■ Pay more than minimum payments ■ Talk to your creditors ■ Seek Credit Counseling Service ■ Consider debt consolidation ■ Bankruptcy may not be the social stigma it once was, but it’s no day at the
Slide 22: Parting Words of Wisdom
CREDIT from EQUIFAX Parting Words of Wisdom ■ Limit credit card use ■ Become a saver and pay yourself first ■ Distinguish between wants and needs ■ Delay gratification ■ Save for major expenses ■ Track expenses, develop a budget and stick with it I’m Cool On Credit 55
Slide 23: Components of a Balanced Budget
COMPONENTS OF A from EQUIFAX BALANCED BUDGET Savings 10% Food/Entertainment/ Emergency Funds Mortgage/Rent & 20% Utilities, Home Owners/Renters Insurance 35% Credit Card/ Other Loans 15% Car, Gas, Insurance, Repairs 20% I’m Cool On Credit 56
Slide 24: You Are Now Cool On Credit
from EQUIFAX YOU ARE NOW COOL ON CREDIT I’m Cool On Credit 57