Innovis Credit Report

[dddewdrop]

    It came to my attention recently that Innovis is a 4th credit reporting agency. I went to their website and requested a free copy of my report with them and I just received it in the mail. This report did contain one of my baddys. It also contained more detailed information than any of the other 3 CRAs in that it had a separate line for each physical card I had received from my one account. For example, I had lost my card twice from one of my accounts and it had separate info and statistics for each card. I don't know how much lenders actually use this credit agency in making decisions but I am going to add them to the list now when it comes to disputing credit report items in case potential creditors may view this report for me. Does anyone know if this report is used by major lenders in evaluating credit worthiness?

[guiness56]

I can't say what or how many lenders may use them.

As for lost/stolen CC, the other 3 do report them.  It will show 2 TL for the same card, one will say lost/stolen.  However, the lost/stolen typically comes off after 2 years.

[RobertEG]

While Innovis is a CRA, most credtiors dont make regular reporting to them, and thus their database is not as comprehensive as those of the Big 3.

Their credit reports are thus not as useful to creditors.

Additionally, to the best of my knowledge, Innovis does not have a licensing agreement with Fair Isaac, and thus does not generate FICO scores based on their data.

[llecs]

Innovis is rarely used by creditors. Whenever you apply for credit, and are denied, the creditor must tell you why and which report was used in their decision-making process. It's very rare that you see a creditor mention they pulled Innovis. In fact the only creditor I've seen on here that references Innovis is CapOne. I had pulled mine a couple of years ago and it didn't have any of my then-baddies on it. It only had maybe 25% of my open accounts on there at the time. There were no inquiries reported despite having a moderate inquiry count on the other CRAs at the time.

[dddewdrop]

---

@guiness56 wrote:

I can't say what or how many lenders may use them.

As for lost/stolen CC, the other 3 do report them.  It will show 2 TL for the same card, one will say lost/stolen.  However, the lost/stolen typically comes off after 2 years.

---

     My other lost/stolen ones may have fallen off my other credit reports because it has been around 2 years. Thank you for that info. My innovis report, for the record didn't have info on my pubilically recorded Federal Tax Lien. I'm not sure if Innovis never has that information or that was an omission unique to my report.