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How does a business go about reporting credit on the clients it gives credit to?

Question by Myke R: How does a business go about reporting credit on the clients it gives credit to?
If I just purchased a used car dealership a couple months ago and wanted to report to Equifax and others about the credit I extended, how do I go about having them accept and use my reports so buyers can have documented their good or bad credit? I’ve tried to visit websites and there does not seem to be anything that addresses this at equifax and the other agencies.

Best answer:

Answer by Mark C
You become a member of the bureau (in other words, pay a fee) and this also entitles you to access credit reports for individuals to whom you are seeking to extend credit. Contact the bureau directly – you’ll need proof that you are a business operating in that space.

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Tags: about, Business, clients, Credit, gives, Reporting

Only 1 credit agency is reporting a score for me, how do I get the others to report a score for me?

Question by navigator_inc: Only 1 credit agency is reporting a score for me, how do I get the others to report a score for me?
I have an excellent credit score @ 774, but only Experian is reporting a score for me. How do I get Equifax and Trans Union to report also?

Best answer:

Answer by demonic angel
Call them and ask them to. Yes it is that easy.

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Tags: agency, Credit, only, others, report, Reporting, score

Why do different credit reporting agencies report such dramatically different credit scores?

Question by kamikazie_krys: Why do different credit reporting agencies report such dramatically different credit scores?
For example, Transunion has shown that I have been able to up my credit score by 100pts in the last 1 1/2 years, but Experian is showing a drop by a few points. Transunion says my credit is good, experian shows my credit is poor. How the hell can one be bad and one be good? I pay ALL bills on time and I always pay more than the minimums. I’ve even paid off a couple this year and I don’t have much open. Can someone help me with this confusion?
It’s my FICO thats showing high and good and a PLUS thats showing bad and poor. All I need to worry about is the FICO then?

Best answer:

Answer by Laissez-Faire Guy
Make sure it’s Apples to Apples. Not all credit reporting agencies use the same credit scoring method. You need to double check it’s the FICO score, and nothing else. The other scores are crap and not worth anything.

I’ll bet you Transunion gave you the Vantage score, or whatever they call it. Unless it actually says FICO, you didn’t get FICO.

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Tags: agencies, Credit, different, dramatically, report, Reporting, scores, such

Why do I have 3 different credit scores from the credit reporting agencies?

Question by T.J: Why do I have 3 different credit scores from the credit reporting agencies?
I am currently monitoring my credit report from the 3 credit bureaus. I filed bankruptcy almost 2 years ago and I currently have no balances on any of the 4 credit cards I have and have never been late on a payment to them. I monitor my credit report with Experian and I now have a 620 credit score. With experian I have seen a steady increase in my credit score since I filed my bankruptcy. With the other two agencies, I haven’t seen much of a change. Experian is at 550 and Transunion is at 505. I have checked my report with all 3 bureaus and they all have the same information. Can anyone tell me why there is such a difference in the three credit scores? As of right now, I have $ 100 balances. I pay all my bills on time and from everything I’ve read, a discharged bankruptcy from 2 years ago should have my credit back to about the 650 -670 range. Am I missing something?

Best answer:

Answer by wade2diesel
Each of the three main credit bureaus uses a slightly different system to assess the worthiness of their customers.

Here is how the three bureaus use credit scores:

Equifax uses the FICO scoring model. They don’t call it that; they call it “Score Power.” Nevertheless, the system is the same one as that developed by Fair, Isaac and Co.

Experian uses a system they call “PLUS Score” Their system is very similar to the FICO model but uses slightly different factors to generate the figure.

Trans Union’s system is proprietary; it is a system they have developed themselves for their own use.

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Tags: agencies, Credit, different, From, Reporting, scores

Fair Credit Reporting Act: Free Credit Report Secrets

Fair Credit Reporting Act: Free Credit Report Secrets

The Fair Credit Report Act is fully and completely explained for you. Free credit report secrets are also revealed to you. For example, you will learn: * How to order your FREE credit report * How to reach the credit report agencies * How to improve your credit and do credit repair * How to avoid credit repair scams * How to deal with a mountain of debt And, you get total access to the Fair Credit Report Act. This book gives you everything you need to understand your rights. It also

List Price: $ 9.95

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Tags: Credit, fair, free, report, Reporting, Secrets

Is there a credit score reporting agency that can give me my credit score?

Question by videogamer1979: Is there a credit score reporting agency that can give me my credit score?
I really need a company that will tell me how to improve my credit score on MY specific credit report, not general tips.

Best answer:

Answer by sparechange005
Any one of the big three can give you your credit score.

Experian, TransUnion, and Equifax will all give you a free copy of your credit report.

The best way to get your credit score up is pay all of your bills on time, all the time, and consistently. There is no instantaneous fix, and it will take time.

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Veda Advantage changes to Credit Reporting Code

Veda Advantage changes to Credit Reporting Code
Veda Advantage says changes to Credit Reporting Code will benefit consumers and small business 16 December 2010, Auckland Final changes to the Credit Reporting Code No 4 announced by the Privacy Commissioner today will benefit consumers and small businesses as they seek credit in a constrained economic environment.
Read more on Scoop.co.nz

CNO Financial Prices Credit Notes
In order to retire the existing senior credit facility, CNO Financial Group Inc. has priced its senior secured notes together with the new senior secured credit facility and CNO Financial’s available cash.
Read more on Zacks.com via Yahoo! Finance

Is Your Credit Card Keeping You From Refinancing?
In anticipation of the Credit Card Act passed last year, banks went on a pruning spree, cutting available credit lines on millions of borrowers. That’s making it much more expensive for many of them to refinance a home loan.
Read more on WallStreet Journal via Yahoo! Finance

Tags: Advantage, changes, Code, Credit, Reporting, Veda