Personally I think companies like Equifax are a JOKE! They make it virtually impossible for people starting out, or those that pay cash to ever get a credit rating. And it just gives financial companies an excuse to charge haigher interest rates, and they directly impact the financial sector of the US and Canada. Financial Companies love to use the excuse... you have no credit history so we cannot give you credit. What a load of crap!

A couple month back I was informed by my credit card company that they would be increasing the interest rate on my credit card by to 14.25% because of my credit rating. This infuriated me so I did some digging and ordered a personal credit report from Equifax. Equifax does not keep records for more than 6 years, so the results of my report for the past 6 years were... I had absolutely no late payments, and ALL of my credit accounts were paid as agreed and up-to-date. For this I was awarded with a FICO score of 713, which apparently is NOT that great. According to their statistics, at least 56% of the population has a better score than I do.

So, if keeping credit in good standing for 6 years, gets you a less than Average score. Then what the hell does it take to get a great score?

To add to this, I was informed today from a company I had an existing lease with for 3 years that I would not be able to get a new lease with them because Equifax had no history on my company. Like WTF? Again... I was never late on ANY of my payments during the full 3 years of my lease. So why is there no record of that with Equifax?

Like if you are going to impair someones credit every time they make a late payment, they should most certainly also be rewarded for when they are NEVER late.