From: creditscoring.com
Sent: Tuesday, June 09, 2009 12:36 PM
To: Steve Ely, Equifax
Cc: Ilyce Glink; Coretha M. Rushing, chief human resource officer, Equifax
Subject: credit score, employers, Equifax HR
You said, “I will tell you, even when you apply for a job at Equifax, we check your credit score because we’d like to make sure that you are good at managing your money.”
What credit score is required for the CEO’s job?
Contrary to information from its credit score company, Equifax claims that the portion of the population who have a credit score over 800 is one percent (1%).
However, a distribution chart from FICO, the credit score company, indicates that 13% have 800 or more.
In a video interview, Steve Ely, president, North American Personal Solutions of Equifax, Inc. states: “I think less than one percent of the population has more than 800. So, you’re in an elite crowd if you have higher than an 800.”
The statement is accompanied by a graphic which states, “Less than 1% have 800 or higher.”
Equifax, 2008: “We do not knowingly provide scores for pre employment screening.”
Equifax, 2009: “Lenders, employers, car dealers, – they all can know your FICO score, and so can you.”
What is a credit score? gives consumer reporting industry and federal government definitions for the term credit score.
Experian: 15 definitions on 7 websites. Takes the prize for the most shelf space and elegant variation.
Equifax: Among others, gives the FICO score definition. Discord with TransUnion over what period FICO predicts.
TransUnion: Typographical error in FAQ.
FICO (the artist formerly known as Fair, Isaac and Fair Isaac), U.S. Treasury, HUD, FTC, FDIC and FCIC finish the set.
