A new CRA Maybe?

[rcsfca]

I too am interested in finding out what these people have on me. Do you guys think that I need to provide them some sort of Denial Letter with my request?

[hdporter]

Kudos to Doug for alerting us to this firm. The possibility that application information might be pulled from a source aside from the inquiries pulled from the 3 majors is definitely something we want to be aware of. I'll offer up my take on points raised by others in this thead:

 

This is a legitimate CRA. There's no reason to suspect that there's any information disclosed to credit issuers that isn't authorized under the FCRA.

 

One can understand the reason issuers would desire such a supplemental agency. In the interest of economic application processing, most issuers only pull from one CRA, with a principal focus on credit history (adverse reporting, if present). That info is fairly consistent CRA to CRA. However, no one CRA presents a complete inquiry picture since most only pull from a single CRA, which may or may not capture all credit inquiries for the consumer. I've had months with 3 or more applications where the inquiries were split between all 3 majors (and I was pleased at that).

 

That (plus the fact that consumer "bumping" is hardly a secret) gives rise to an appetite for a cheap alternate source of cc app info. Given the limited scope of the reporting and that Advanced likely exists to serve the interest of financial institutions rather than profit, I expect reports are very inexpensive.

 

------------

 

The agency would be required to be fully compliant with the FCRA and other applicable statutes. A free annaul disclosure should be obtainable by consumers without their report being cited as an adverse factor in application review (e.g. a decline or offer of a high rate than applied for).

 

There's every reason to believe that the information is compiled independently of the major's, with application activity reported directly by issuers. Thus, a deletion of an inquiry by a CRA (whatever the reason) wouldn't necessarily result in deletion of respective info in Advanced's database. For that matter, in inquiry for your credit file is different than a record that you applied (and were accepted/declined) for a card.

 

If an issuer pulls from Advanced and they should decline you for any reason, I don't think there's any way they can get around a requirement to disclose the pull to you in your notification. But, if you were declined due to non-credit card apps, perhaps the pull needn't be disclosed.

 

The prospect that they might record data for comparison from app to app, such as salary, employer, etc. is modestly troubling. Whatever they do maintain in their records should by all means be included in a consumer disclosure.

 

- Harry

[pryan67]

actually, regardless of whether you were denied or not...a record of the pulls MUST exist and be given to the consumer upon request

[LadyKnR]

This troubles me. I don't think I like that they can easily track every approval or denial, for every VISA I apply for or have ever applied for. So if BofA declined me, and SoandSo VISA pulled one of these reports, perhaps they could say to themselves, "Oh, well if BofA declined her...". The whole thing just makes me feel a bit like writing my congressman.

 

Flying under the radar makes me have an itchy trigger finger for the ground-based guns!

[ekwii]

there are hundreds of CRAs out there.

I concur, may be not hundreds, but there's Innovis, LexisNexis (still in denial), and the list goes on and on.

 

Not to rain on anyone's parade, but deleted TLs are not technically deleted. The inquiries, I cannot speak for, but trust me, everything that was once on a report and deleted due to dispute or age is available on a master credit file for each and every consumer with a SSN. But to think of it, this gives me food for thought on *B*.

 

Bankruptcies may be reported on a credit report for up to ten years, but creditors are not subject to a time limit when it comes to making a decision. A creditor may choose to take a bankruptcy that is twelve years old seriously. So even if a creditor wanted to get a detailed history more than meets the eyes, all they need do is order a full factual which will show all aged off (but not disputed) TLs. If however a TL is successfully disputed, a CRA isn't supposed to furnish that info to a third party. The problem that creditors face with full factuals is that they are expensive and affect their bottom line.

[hegemony]

there are hundreds of CRAs out there.

I concur, may be not hundreds, but there's Innovis, LexisNexis (still in denial), and the list goes on and on.

 

Not to rain on anyone's parade, but deleted TLs are not technically deleted. The inquiries, I cannot speak for, but trust me, everything that was once on a report and deleted due to dispute or age is available on a master credit file for each and every consumer with a SSN. But to think of it, this gives me food for thought on *B*.

 

Bankruptcies may be reported on a credit report for up to ten years, but creditors are not subject to a time limit when it comes to making a decision. A creditor may choose to take a bankruptcy that is twelve years old seriously. So even if a creditor wanted to get a detailed history more than meets the eyes, all they need do is order a full factual which will show all aged off (but not disputed) TLs. If however a TL is successfully disputed, a CRA isn't supposed to furnish that info to a third party. The problem that creditors face with full factuals is that they are expensive and affect their bottom line.

yes there are hundreds...I have a friend who works for a new one. they just went through the steps needed to become a CRA.

[pryan67]

there are hundreds of CRAs out there.

I concur, may be not hundreds, but there's Innovis, LexisNexis (still in denial), and the list goes on and on.

 

Not to rain on anyone's parade, but deleted TLs are not technically deleted. The inquiries, I cannot speak for, but trust me, everything that was once on a report and deleted due to dispute or age is available on a master credit file for each and every consumer with a SSN. But to think of it, this gives me food for thought on *B*.

 

Bankruptcies may be reported on a credit report for up to ten years, but creditors are not subject to a time limit when it comes to making a decision. A creditor may choose to take a bankruptcy that is twelve years old seriously. So even if a creditor wanted to get a detailed history more than meets the eyes, all they need do is order a full factual which will show all aged off (but not disputed) TLs. If however a TL is successfully disputed, a CRA isn't supposed to furnish that info to a third party. The problem that creditors face with full factuals is that they are expensive and affect their bottom line.

 

 

Actually, they can NOT pull a full factual other than under very specific circumstances...also, any item that was deleted due to a consumer dispute that EVER finds it's way into the hands of a creditor from that CRA will cause that CRA to wind up in court answering to a HUGE multi million dollar suit

[JerseyBaby]

there are hundreds of CRAs out there.

I concur, may be not hundreds, but there's Innovis, LexisNexis (still in denial), and the list goes on and on.

 

Not to rain on anyone's parade, but deleted TLs are not technically deleted. The inquiries, I cannot speak for, but trust me, everything that was once on a report and deleted due to dispute or age is available on a master credit file for each and every consumer with a SSN. But to think of it, this gives me food for thought on *B*.

 

Bankruptcies may be reported on a credit report for up to ten years, but creditors are not subject to a time limit when it comes to making a decision. A creditor may choose to take a bankruptcy that is twelve years old seriously. So even if a creditor wanted to get a detailed history more than meets the eyes, all they need do is order a full factual which will show all aged off (but not disputed) TLs. If however a TL is successfully disputed, a CRA isn't supposed to furnish that info to a third party. The problem that creditors face with full factuals is that they are expensive and affect their bottom line.

yes there are hundreds...I have a friend who works for a new one. they just went through the steps needed to become a CRA.

 

If you consider the other databases besides the hundreds of CRAs, the repositories of personal information number in the tens of thousands.

[douginsea]

well as soon as i get my report...i'll let you all know. like i said i have my dispute letter ready to fire off when i get it.... this place gives me a knot in my gut.....if more of these people pop up it is going to make it extremely difficult for the consumer to keep up. and i have always thought 3 CRA's was 2 too many...

 

to be honest i think the goverment needs to step up and regulate/ crack down on who and what credit info is maintained on a consumer.

 

 

as it stands right now...if i wanted to start a credit reporting agency or something to that effect. if does'nt seem like it would be too hard to do...

Edited March 13, 2007 by douginsea

[rcsfca]

bump

[mnmb3640]

Any new updates?

[rcsfca]

I requested on 3/12/07 a copy of the report From ARS (Advance Resolution Services, Inc.) and received a free copy yesterday 3/19/07.

 

In the package I from ARS I received a: Cover Letter explaining my what's in the report and my sumarry of my rights under FCRA, The Consumer Report, a Dispute Form, A sheet with my rights under FCRA and a summary of my rights under California Law.

 

Here is a summary of what they say (in the Cover Letter) their report contains about consumers:

 

-------------------------------------

Your ARS Consumer Repport includes the Following:

1. Any bankruptcy proceeding reported for your SSN.

2. Visa or MasterCard bankcard issuers who ahve provided information regarding your SSN to ARS or have received information from ARS.

3. The total number of instances where your SSN has been used on a Visa or MasterCard credit card application in the previous 12 months (24 months for Colorado).

4. Reports of unauthorized or fraudulent use of any Visa cards or MasterCards associated with your SSN.

------------------------------------------------------

 

My report is broken up into 2 sections consisting each of several subsections:

 

Section 1 - ISSUERS' CLEARINGHOUSE SERVICE (ICS) USER DETAIL

a. Application Activity

On my report this section is showing 4 cards that applied for last year: Juniper Bank, Wamu, StateFarm and US Bank. (I applied for several credit cards with different banks, however these four cards applications were approved)

 

b. Declined Application Activity

10 Items reported - 3 from Juniper, 3 Wamu, 2 from State Farm, 2 from US Bank

 

I WILL DISCUSS THIS MORE LATER.

 

 

c. General Inquiry

My Report Shows USAA, HSBC And Bank One - The dates all coincide with dates that I applied for Credit Cards, with the exception of USAA this date coinsides with an Auto Loan.

 

d. Prescreen Inquiry

No Information

 

Section 2 - ISSUERS' CLEARINGHOUSE SERVICE (ICS) FURNISHER DETAIL

 

a. Application Activity

This section is exactly the same as section 'a' above.

 

b. Declined Application Activity

This Section is exactly the same as section 'a' above.

 

c. Unauthorized Use Report

NONE

 

d. Bankruptcy Report

NONE (I've nevered filed for BK)

 

e. Additional Information

NONE

 

f. Consumer Statement

NONE

 

 

I was a bit disturbed by the number of inquiries from USBANK, WAMU, JUNIPER and STATE FARM that were in the "Declined Application Activity" subsection. So I called the 800 number that was located on my application and discovered that they were listed in error and was given the true Bank name for each inquiry thus making this section correct.

Unfortunately this means that my report show 14 applications for Visa or Mastercard in the last 24 months most of them from the last 6 months.

 

Questions:

 

I would like to know how creditor's are using this report?

I would like to know what the report looks like for a person with a BK?

 

Comments:

 

This might explained my USAA denial. I applied for a Mastercard in January but was denied because of too many inquiries. I requested a recon based on the fact that I only had one inquiry (I love Bump), but they still declined my application.

 

----R

 

P.S. The good thing is that it seems like only large issuers are using this report at the time, however the nice lady on the phone explained to me that sometime smaller (mostly credit unions) will farm out this portion of the application and have a larger bank check the ARS report.

[rcsfca]

Did anyone else request a copy of thei report?

[Credit Matters]

i dont htink this joint should be able to compile info that has been deleted or otherwise inaccurate at the 3 CRA's. i smell lawsuit here..

 

there kind of like chexsystems...you dont really know who they are till you get declined by them...

 

if what their saying is true about recording INQ's..i probably have about 200+ over my lifetime...ROFL...

Doug, they are going to claim these are not credit INQ's but are applications for Visa cards and as the association that provides Visa to member banks to issue and in order to prevent fraud, they require the need to track all who apply for a Visa.

 

If that's the case, then CLIs (and the inquiries that are generated and subsequently bumped off) won't be detectable. This is just another good reason for CWs to confine their whoredom to CLIs.

Edited March 21, 2007 by marcustx

[stickyfingers]

Thanks rcsfca.

[stickyfingers]

I requested on 3/12/07 a copy of the report From ARS (Advance Resolution Services, Inc.) and received a free copy yesterday 3/19/07.

 

In the package I from ARS I received a: Cover Letter explaining my what's in the report and my sumarry of my rights under FCRA, The Consumer Report, a Dispute Form, A sheet with my rights under FCRA and a summary of my rights under California Law.

 

Here is a summary of what they say (in the Cover Letter) their report contains about consumers:

 

-------------------------------------

Your ARS Consumer Repport includes the Following:

1. Any bankruptcy proceeding reported for your SSN.

2. Visa or MasterCard bankcard issuers who ahve provided information regarding your SSN to ARS or have received information from ARS.

3. The total number of instances where your SSN has been used on a Visa or MasterCard credit card application in the previous 12 months (24 months for Colorado).

4. Reports of unauthorized or fraudulent use of any Visa cards or MasterCards associated with your SSN.

------------------------------------------------------

...

I have no BKs, but if I had, point #1 would make me unhappy.

 

It sure looks like, with some issuers, that BK can follow you forever (an earlier poster to this thread said *exactly* that happened to him with BOA).

[rcsfca]

I would like to know what a BK looks like on your standard credit report. Does it show all the accounts one had BK'd? Or does it list as a one line item - bk 2/07?

 

It seems to me that the ARS report would list seperately all the Visa&MC's that were BK'd.

[douginsea]

sounds like disputing INQ's is going to be a hard one with this company. even though we can "B" with the cra...this place still keeps records of the left over crap. i would only dispute an INQ with them on a declined app where you dont have an existing visa or mc or account at all.

 

sounds like we better all start using our amex cards or get more/some...since obviously tehy dont keep amex info...

 

also, is'nt their a way we can OPT OUT....of this information sharing with a 3rd party?

Edited March 21, 2007 by douginsea

[MarvBear]

I would like to know what a BK looks like on your standard credit report. Does it show all the accounts one had BK'd? Or does it list as a one line item - bk 2/07?

 

It seems to me that the ARS report would list seperately all the Visa&MC's that were BK'd.

 

 

like this

 

****** PUBLIC RECORDS OR OTHER INFORMATION ******
04 10/01 BKRPT,728VFxxxxx,0118xxx-DSP-03/02,
INDIVID, PERSONAL, DISMISSED CH-13

[rcsfca]

Thanks MarvBear

[Rogue]

Thanks for posting your report rcsfca!

[rcsfca]

No Problem!

[Curious]

This is quite interesting to say the least.

[Sultan]

If they only maintain inquiries (except in GEORGES state) for a year then *B* still has its place and serves it's purpose well; even with this gig in effect, IMO.

[Sultan]

Not to mention Mortgage and Auto applications!