Grades are also broken down by the financial products offered be each institution. Equifax is rated "C" in Mortgages, "C+" in Credit Reporting, "C+" in Credit Cards, and "C-" in Consumer Loans. Click on any of the financial products to see how Equifax compares.
Equifax has received 15,688 consumer complaints since October, 2012 – more than 99% of other banks.
Of those complaints, 100% of complaints were resolved in a timely manner. The CFPB allows 60 days to resolve complaints before considering them 'untimely.' Equifax meets the 60-day response deadline more frequently than 74.4% of other banks.
After companies respond to complaints, customers may dispute the response indicating that the issue was not resolved adequately. 20.3% of customers dispute Equifax's response to complaints — worse than 58.2% of other companies.
Most of Equifax's customers complain about credit reportings with the primary issue being "incorrect information on credit report."
|#||Financial Product||Sub-Product||Complaint Issue||Complaint Count|
|1||Credit reporting||Incorrect information on credit report||5,946|
|2||Credit reporting||Incorrect information on credit report||4,123|
|3||Credit reporting||Unable to get credit report/credit score||1,723|
|4||Credit reporting||Incorrect information on credit report||1,523|
|5||Credit reporting||Incorrect information on credit report||1,217|
|6||Credit reporting||Credit reporting company's investigation||1,099|
|7||Credit reporting||Unable to get credit report/credit score||899|
|8||Credit reporting||Credit reporting company's investigation||802|
|9||Credit reporting||Incorrect information on credit report||719|
|10||Credit reporting||Incorrect information on credit report||647|
|#||Company Response||Response Count||Timely Response Count||Disputed Count|
|1||Closed with explanation||13,585||13,585 (100%)||3,158 (23.2%)|
|2||Closed with non-monetary relief||6,735||6,735 (100%)||1,104 (16.4%)|
|3||In progress||232||232 (100%)||0 (0%)|
|4||Closed||21||21 (100%)||2 (9.5%)|
|5||Closed with monetary relief||21||21 (100%)||1 (4.8%)|