Experian is a consumer credit reporting agency. They provide financial information, collected from a variety of sources, to banks, car dealers, credit card companies and other lending and financial institutions. This information is used by these institutions to determine credit worthiness, amongst other things. The data compiled by Experian is used to help lenders, and can affect interest rates and other terms of a loan.
Experian was founded in England in 1980 by John Peace. It is one of the three biggest credit agencies in the world; the other two are Equifax and TransUnion. Experian, now a publicly traded company, is based in Dublin, Ireland but they also operate in 36 other countries. Experian holds information on over 300 million consumers and 30 million businesses in more than 60 countries.
At many lending institutions, Experian, and their credit histories on almost every person in America, is The source of information when determining the terms of a loan, especially a student loan. The same is not true at People Capital; using the Human Capital Score lenders have a new tool in considering the terms and rates of a loan. Using data like GPA, standardized test scores, major and university, the Human Capital Score will compute insight into a potential borrower’s credit worthiness.
For an alternative evaluation of your credit worthiness check out the Human Capital Score and People Capital’s Peer-to-Peer Lending Platform at www.People2Capital.com.