Finance Blog

Equifax Credit Team - About Janet Dedrick

Written by Janet Dedrick on May 3, 2010 in Credit  |   1 comment

You probably have a lot of numbers swimming around your head: Social Security number, ATM PIN number, your kids’ birthdays, your monthly utility bills, the score of the ball game last night, and maybe how much cash you have in your wallet. But there are…

Equifax credit team of expertsYou probably have a lot of numbers swimming around your head: Social Security number, ATM PIN number, your kids’ birthdays, your monthly utility bills, the score of the ball game last night, and maybe how much cash you have in your wallet.

But there are lots of other numbers you may not realize are very important to your life. In the Analytical Services division of Equifax, we spend our days evaluating consumers’ behavior based on different sets of numbers.

We look at the big picture—all mortgages, home equity loans, student loans, bank cards, and auto loans opened and outstanding in a given month—and try to find trends based on the number of accounts opened or closed, how consumers’ payment history changes, and whether their available balance has gone up or down.

Why does this matter to you? You may be able to tell me that you have a mortgage, a home equity loan, two auto loans, and a credit card you’re trying to pay off. Because I’m looking at data from all U.S. consumers with credit histories, I’m able to look at what hundreds of thousands of consumers are doing with their mortgages, home equity loans, auto loans, and credit cards. By taking the raw data about every person’s credit history, loans, and payment history, we can predict a great deal about what your future financial life might hold.

My job specifically is to look at U.S. consumer credit trends, and I spend a lot of my time looking at numbers and trying to figure out what is happening in the financial services industry.

For example, in April 2008, the average delinquent U.S. credit card balance was about $3,500. In April 2010, the average delinquent credit card balance had jumped to about $4,900. These numbers tell me that American consumers are stressed. They’re using their credit cards more to try to pay for their daily expenses.

These numbers and data are very important to us, as well as to creditors, lenders, insurance companies, and employers. Companies will buy our data and try to figure out what products and services they can offer to make your life better or easier.

I’ve spent my career working in the financial services industry in various roles, including credit, risk management and even the regulatory banking side. What may look like dry, complicated numbers on paper can tell a very compelling story. I hope to use this blog to bring these numbers to life. I want to make sure you, the consumer, are not frustrated by numbers you hear in the news. I want to provide context to the financial industry news and help you understand what these statistics and numbers mean for you and your finances.

I’d love to hear from you. What questions do you have about credit histories, credit scores, financial trends, and how lenders evaluate you?

Read More.

1 comment

  1. OHgal says:

    Just wondering. What impacts a credit score seems to be very mysterious…Is there any impact on credit score if you lease a vehicle for 36 months versus purchasing one with a loan for 36 months.

Leave a Comment

Name :

Commenting guidelines

We welcome your interest and participation on this forum, but be aware that comments will be published at Equifax's sole discretion. Please don't use this blog to submit questions or concerns about your Equifax credit report or raise customer service issues. Instead, you should contact Equifax directly for all such matters and any attempts to do so in this forum will be promptly re-directed.

Some other factors to consider when commenting:
  1. Registration and privacy. While no registration is required to visit our forum, participants wishing to post a message must register by creating an account. All personal information provided by forum members incident to registration is governed by our Terms of Use and Privacy Policy.
  2. All comments are anonymous. We'll delete your name, e-mail address, and any other identifying information, including details about your investments.
  3. We can't post or respond to every comment - As much as we'd like to, we can't post every comment, nor can we guarantee that we will respond to each individual message. All questions or comments about your Equifax credit report or similar customer service issues should be handled by contacting Equifax directly.
  4. Don't offer specific legal, tax or financial advice. All of the materials on this Site are for information, education, and noncommercial purposes only and this forum is not intended as a means of expressing views or ideas regarding any specific legal, tax, or investment advice. While offering general rules of thumb is both permitted and encouraged, recommending specific ideas or strategies regarding investments, taxes, and related matters is prohibited.
  5. Credit Repair. This blog is not intended as a venue for the discussion or exchange of ideas regarding credit repair or other strategies intended to assist visitors and community members improve or otherwise modify their credit histories, ratings or scores.
  6. Stay on topic. Your comment should be concise and pertain to the specific post in question.
  7. Be respectful of the community. The use of profanity, offensive language, spam, and personal attacks will not be tolerated and egregious or repeat offenders will be banned from future participation. We encourage disagreement and healthy debate, but please refrain from personal attacks on our WordPresss and contributors.
  8. Finally: Participation in this forum may be terminated by Equifax immediately and without notice for failure to comply with any guidelines or Terms of Use. As such, you should familiarize yourself with all pertinent requirements prior to submitting any response through the blog or otherwise. All opinions expressed in this forum are solely those of the individual submitting the comment, and don't necessarily represent the views of Equifax or its management.

Equifax maintains this interactive forum for education and information purposes in order to allow individuals to share their relevant knowledge and opinions with other members and visitors. We encourage you to participate in discussions about personal finance issues and other topics of interest to this community, but please read our commenting guidelines first. Equifax reserves the right to monitor postings to the forum and comments will be published at our discretion. Do you have questions or comments about your Equifax credit report or customer-service issues regarding an Equifax product? If so, please contact Equifax directly. All opinions and information expressed or shared in blog comments are solely those of the person submitting the comments, and don't necessarily represent the views of Equifax or its management.

Credit Archive

Stay Informed Sign up for our FREE Equifax email Newsletter