From 2 April 2012, we do not print Equifax Score Ratings for My Credit File or My Credit File Express applications. We provide you with the information held about you on the Bureau. As the Equifax Score Rating is generated at a point in time; it is not information that is held on the Bureau about you.
* Equifax Score Ratings are not provided when any insolvency information is present on your credit file. Insolvency information remains on your credit file for four years from the date of discharge.
Equifax Score Rating is a service where all of the information on your credit file is evaluated to produce a single score out of 1,000. When you apply for credit, this rating is calculated at the time of application by a mathematical equation which analyses multiple types of information from your credit file, and then compares this information to the patterns of a vast number of past credit files.
The Equifax Score Rating estimates your level of future credit risk and your ability to repay the amount that you will owe. Credit providers and other companies who have the authority to access your credit file in accordance to the Credit Reporting Privacy Code 2004 (the Code) can use your Equifax Score Rating to assess your intention and ability to make payments.
Some of our subscribers use a different name for the Equifax Score Rating but the information is always provided by us. The subscribers view a more complex score using a blend of scoring models called Equifax Score Plus. In contrast the Equifax Score Rating is designed to be more easily understood by an individual.
The ability to quickly, fairly and consistently consider all of this information, including the relationships between different types of information, is what makes credit scoring so useful.
Your Equifax Score Rating is included with your credit report when you purchase My Credit Alert.