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INNOVIS??????????????

Valued Contributor

INNOVIS??????????????

While cleaning up credit I discovered a fourth CRA named Innovis anyone have any info about them are they the next EX???


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Message 1 of 8
7 REPLIES
Moderator Emeritus

Re: INNOVIS??????????????

There are many more CRAs outside of Innovis:

 

http://ficoforums.myfico.com/t5/General-Credit-Topics/Some-of-the-Lesser-Known-Evils/m-p/16946/highl...

 

Innovis is the 4th popular I suppose, well maybe outside Chexsystems. I pulled once and found that a third of my creditors reported.

 

Message 2 of 8
Valued Contributor

Re: INNOVIS??????????????

oh my god i started reading link you posted are you kidding me I guess I need to know anything anyone else will know about me  I never realized are there any rules or time limits for these other agencies like if I bounced a check 20 years ago will they be able to see that today?


Starting Score: 0
Current Score: TR??FICOEQ ?? FICO
Goal Score: 760

Lowes7,000 Discover More 2800. Jcpenny 6,000
Chase freedom 800 Never take NO for an answer!!
Message 3 of 8
Community Leader
Epic Contributor

Re: INNOVIS??????????????

Innovis is a much smaller CRA, and since most creditors dont regularly report to them, their database is limited.  Thus, any scoring based on their data would not be very useful.

I dont believe that they even have a reciprocal contract with Fair Isaac for license of their scoring algorithms.  And they also did not participate with the "Bid-Three" in the development of the supposedly uniform Vantage scoring algorithms.

 

They are, however, a player in the game.  The major CRAs have a joint "METRO" task force that develops and maintains the uniform credit reporting manual used by each of the CRAs.  Innovis is a member of that task force, along with the other "Big-Three."

Message 4 of 8
Established Contributor

Re: INNOVIS??????????????


RobertEG wrote:

Innovis is a much smaller CRA, and since most creditors dont regularly report to them, their database is limited.  Thus, any scoring based on their data would not be very useful.

I dont believe that they even have a reciprocal contract with Fair Isaac for license of their scoring algorithms.  And they also did not participate with the "Bid-Three" in the development of the supposedly uniform Vantage scoring algorithms.

 

They are, however, a player in the game.  The major CRAs have a joint "METRO" task force that develops and maintains the uniform credit reporting manual used by each of the CRAs.  Innovis is a member of that task force, along with the other "Big-Three."


   +1

Message 5 of 8
Valued Contributor

Re: INNOVIS??????????????

Thanks guys I just didnt wan to get to the end of my journey and find out I had to start all over again, and by the way their report state that  they do not currently generate scores.


Starting Score: 0
Current Score: TR??FICOEQ ?? FICO
Goal Score: 760

Lowes7,000 Discover More 2800. Jcpenny 6,000
Chase freedom 800 Never take NO for an answer!!
Message 6 of 8
Regular Contributor

Re: INNOVIS??????????????

I sent away just recently for the INNOVIS report.  They didn't have a score included which really disappointed me.  They reported all my good accounts which is nice, and only one baddie.

Message 7 of 8
Highlighted
Valued Contributor

Re: INNOVIS??????????????

Me too Joe but one baddie was to be deleted I saved my deletion letter from end of Jan 2012 from BoA just tonight sending it out for FREE copy of updated report.  Ill see if the other deletion came off if not I got some phne calls to make.


Starting Score: 0
Current Score: TR??FICOEQ ?? FICO
Goal Score: 760

Lowes7,000 Discover More 2800. Jcpenny 6,000
Chase freedom 800 Never take NO for an answer!!
Message 8 of 8