Payment Card News

Credit Bureaus & Y2K

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Will Y2K clean your credit slate? It could, but unlikely. Nevertheless it is prudent to get a paper copy of your credit bureau report between now and the end of this year. Then request another copy in January or February to make sure all is well. This week the largest credit bureau introduced three new services to help American consumers monitor their credit files. ‘Equifax Credit Profile’, ‘Equifax Sentinel’ and ‘Equifax Millennium Monitor’ are designed to help consumers understand their financial information, enhance their buying power and prepare for the new millennium. These three new services will enable U.S. consumers, for the first time, to order, view and monitor credit information about them directly from Equifax’s Web site. ‘Equifax Credit Profile’ enables consumers to enhance their buying power by viewing the credit information businesses, banks and employers use to make credit and employment decisions. ‘Equifax Sentinel’ will inform consumers via a quarterly update if any new account, address, inquiry, public record or collection information is posted to their credit profile. ‘Equifax Millennium Monitor’ allows consumers to order a printed copy of their Equifax Credit Profile as of early December 1999 and then receive a second copy as of mid-February 2000. ‘Equifax Credit Profile’ is available for online delivery for $8. ‘Equifax Sentinel’ is priced at $49.95 per year. ‘Equifax Millennium Monitor’ is delivered via the U.S. Postal Service for $12.95. For more information visit www.equifax.com www.equifax.com.

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