Press Release

CONSUMER DEMAND FOR CREDIT FILES INCREASES BY NEARLY 10% IN QUARTER 1 2009

Could lender restrictions on new credit applications be the reason?

www.equifax.co.uk

London, 1st June 2009 - Leading instant online credit information provider, Equifax, has seen a 9.6% increase in requests for its credit reports for the first quarter of 2009 compared to the same period in 2008. "This is quite a significant rise", confirmed Neil Munroe, External Affairs Director, Equifax. "And we believe it is particularly indicative of the continued strict lending criteria being applied by financial services organisations right across the consumer marketplace. It seems that only those with the most pristine credit files are getting the new loans and credit deals they want.

"Consumers who are declined a loan or credit application are getting a copy of their credit report to find out more about the information being used by lenders as part of the decision process. And the really astute are actually getting a copy of their credit report before they make any new applications - so that they can ensure their data is absolutely up to date and accurate and they have the best chance of getting the deal they want."

Through Equifax's services, consumers who find information on their credit file that they do not believe is correct can gain assistance to dispute the data. And for those who might have had financial difficulties in the past but now have got their finances back on track, they can add a note to their credit file about the reasons for any previous defaults on credit agreements, for future lenders to see when assessing applications for credit.

"In the current climate, the key is for consumers to be as informed as possible when making new applications for any form of credit", continued Neil Munroe. "There appears to be some loosening up of the very strict lending criteria that we have seen over the last 6-12 months. But the reality is that lenders are still only keen to offer the best rates to the customers who appear to present the lowest risk.

"So it seems that the credit report is becoming the 'must have' accessory for the switched on consumer. It really is worth getting a copy ahead of making a new credit application, especially if it is for something as significant as a new mortgage or loan for home improvements or perhaps a new car."

The new Equifax Credit Report, with the facility to access credit information for the first 30 days free, can give consumers a valuable insight into their credit status. Accessible simply by logging onto www.equifax.co.uk it is designed to help individuals understand their credit file and see what lenders see to assess new credit applications. It also includes expert tips and advice to help consumers take the right steps to manage their finances and navigate through life's challenges.

If the customer does not cancel before the end of the 30 Day Free Trial, the service will continue at £6.99 per month, giving them unlimited online access to their credit information and weekly alerts on any changes to their credit file. It also includes an online dispute facility to help them correct any errors on their credit file simply and quickly.

ENDS

For further press information please contact: Elinor Puzey, Louise Fowler, Cecile Stearn or Wendy Harrison at HSL on 020 8977 9132 / Fax: 020 8977 5200 or Email: elinor@harrisonsadler.com