Finance Blog

Stay financially savvy with the Equifax Advisor.

Sign up for our FREE Monthly Email Newsletter


Thank you for signing up for the FREE Equifax monthly newsletter

In addition to keeping in the financial know, you may be interested in checking your credit score and report.

Understand your credit. Help protect your identity.

Equifax Complete™ Premier Plan

  • Know What May Influence Your Credit Score and Be Alerted of Changes
    Credit score monitoring with custom alerts
    Important Disclosure: The Equifax credit score and 3-Bureau credit scores are based on an Equifax credit score model and are not the same scores used by 3rd parties to assess your creditworthiness.¹
  • Help Protect Your Identity
    Automatic fraud alerts encourages lenders to take extra steps to verify your identity²
  • Lock Your Credit
    The ability to lock and unlock your Equifax Credit Report³
Save 75% your first 30 days with the purchase of Equifax Complete™ Premier

$4.95 for the first 30 days, then $19.95 per month thereafter. You may cancel at any time; however, we do not provide partial month refunds.4

¹The credit scores provided under the offers described here use the Equifax Credit Score, which is a proprietary credit model developed by Equifax. The Equifax Credit Score and 3-Bureau scores are each based on the Equifax Credit Score model, but calculated using the information in your Equifax, Experian and TransUnion credit files. The Equifax Credit Score is intended for your own educational use. It is also commercially available to third parties along with numerous other credit scores and models in the marketplace. Please keep in mind third parties are likely to use a different score when evaluating your creditworthiness. Also, third parties will take into consideration items other than your credit score or information found in your credit file, such as your income.

²The Automatic Fraud Alert feature is made available to consumers by Equifax Information Services LLC and fulfilled on its behalf by Equifax Consumer Services LLC.

³Equifax Credit Report Control™ is only available while you have a current subscription to Equifax Complete Premier. Locking your credit file with Equifax Credit Report Control will prevent access to your Equifax credit file by certain third parties, such as credit grantors or other companies and agencies. Credit Report Control will not prevent access to your credit file at any other credit reporting agency, and will not prevent access to your Equifax credit file by companies like Equifax Personal Solutions which provide you with access to your credit report or credit score or monitor your credit file; Federal, state and local government agencies; companies reviewing your application for employment; companies that have a current account or relationship with you, and collection agencies acting on behalf of those whom you owe; for fraud detection and prevention purposes; and companies that wish to make pre-approved offers of credit or insurance to you. To opt out of such pre-approved offers, visit www.optoutprescreen.com/.

4We will require you to provide your payment information when you sign up and we will immediately charge your card $4.95. After that, we will charge the card $19.95 for each month you continue your subscription. You may cancel at any time; however, we do not provide partial month refunds.

Equifax® is a registered trademark and Equifax Complete™ Premier is a trademark of Equifax, Inc. © 2014, Equifax Inc., Atlanta, Georgia. All rights reserved.

Regional Credit Trends Affected by Industry and Manufacturing

Written by Janet Dedrick on July 11, 2011 in Credit  |   No comments

Regional Credit Trends Affected by Industry and ManufacturingJanet Dedrick, Equifax Credit Team You’ve probably heard about certain areas of the country—most notably California, Florida, and Nevada—being hit especially hard by the housing crisis. However, other parts of the country are seeing an economic impact tied…

Regional Credit Trends Affected by Industry and Manufacturing
Janet Dedrick, Equifax Credit Team

You’ve probably heard about certain areas of the country—most notably California, Florida, and Nevada—being hit especially hard by the housing crisis. However, other parts of the country are seeing an economic impact tied to their local industry and manufacturing. In some of those areas, credit scores have been on the decline, and there has been substantial deleveraging as well. On the other hand, other areas have weathered the storm well, without major trouble.

Heartache in the Rust Belt

Major U.S. auto companies declared bankruptcy throughout the recession, and a myriad of auto suppliers went out of business or were forced to pull back production—a perfect example of a domino effect. While auto sales and auto loans are finally beginning to increase again, a look at specific regions highlights the ongoing Rust Belt stress.

One of the Rust Belt cities hit hardest by the recession is Ann Arbor, Mich., which has experienced sustained credit score and balance declines. Credit scores have declined over 33 months and balances have declined over 32 months, causing it to rank as one of the top Metropolitan Statistical Areas (MSAs) experiencing declines. In fact, credit scores in Ann Arbor are currently below pre-recession levels (711.7 in March 2011 versus 712.9 in March 2006). Additionally, balances today are down by $1.5 billion, which is a variation of more than 10 percent from the peak.

Flint, Mich., while not experiencing quite as dramatic credit score declines, has experienced the largest number of months of balance declines—38 . With such a sustained period of deleveraging, the Flint MSA has shed more than $2.3 billion of balances, or 17.5 percent from peak (Oct 2007).

The degree of deleveraging is further highlighted as balance levels today for both Ann Arbor and Flint are below the entire series tracked, starting with July 2005. Lansing, Mich.; Grand Rapids, Mich.; Dayton, Ohio; and Toledo, Ohio have similar balance decline patterns.

Improvement in tech center locales and the Research Triangle

While they were also affected by the recession, several major tech center locales did not experience the same issues that auto industry regions have seen. Cary, Durham, Raleigh, and Wilmington, N.C., did not trend toward lower risk scores nor did these locales experience sizable deleveraging. These locales are home to several colleges and universities, as well as what is known as the “Research Triangle,” which includes biotech and tech industries.
Compared to March 2006, a pre-recession point, balances in these cities have increased. Specifically, balances are 27 percent, or $15 billion, higher in the Wilmington MSA; 25 percent, or $10 billion, higher in the Raleigh MSA; and 17 percent, or $3 billion, higher in the Durham MSA.

Stability in the heartland and small metropolitan areas

Deleveraging did not occur in a handful of smaller metropolitan areas—again, primarily those with colleges, universities, and military bases. Such locations include Hunstville, Ala.; Fayetteville, N.C.; Clarksville, Tenn.; El Paso, Texas; and Killeen, Texas. These cities were immune to deleveraging during the Great Recession. Unsurprisingly, these areas have also seen stable employment as well as minimal impact from the housing crisis.

Additionally, other areas across the United States have experienced more stable score trends and only a minimal number of months of deleveraging. These locales, which have fewer than 10 months of balance declines, include Albany, N.Y.; Cedar Rapids, Iowa; Oklahoma City, Okla.; Omaha, Neb.; San Antonio, Texas; Scranton, Penn.: and Syracuse, N.Y.

The information contained in this blog post is designed to generally educate and inform visitors to the Equifax Finance Blog. The blog posts do not give, and should not be assumed to provide, personalized tax, investment, real estate, legal, retirement, credit, personal financial, or other professional advice. Before making any financial decision, you should always consult with the appropriate professionals who can explain your options, rights, and legal responsibilities, and advise you on any tax, legal, credit, or business implications that may result from those decisions. The views and opinions expressed by the authors of blog posts are their own views and may not be the views or opinions of Equifax, Inc. and/or its affiliates.

No comments yet

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