topic Re: What do you know about ICS? in Credit Cards

What do you know about ICS?

OroroMunroe — Mon, 11 Apr 2016 19:33:50 GMT

I recently opened a new credit card account. When checking my credit report, I saw the new account listed as closed. When I inquired about the account, I was told there's an ICS issue. My account is blocked. I am happily gardening now, and I had not plans on using the card anytime soon. Any ICS stories? What happened, and how was the issue resolved? Thanks for reading!

Re: What do you know about ICS?

Creditaddict — Mon, 11 Apr 2016 22:15:28 GMT

@OroroMunroe wrote:
I recently opened a new credit card account. When checking my credit report, I saw the new account listed as closed. When I inquired about the account, I was told there's an ICS issue. My account is blocked. I am happily gardening now, and I had not plans on using the card anytime soon. Any ICS stories? What happened, and how was the issue resolved? Thanks for reading!

I hate ICS and I LOCK MINE!

you have to mail in request.

Re: What do you know about ICS?

Anonymous — Mon, 11 Apr 2016 22:53:08 GMT

What is ICS? Is it similar to IDA/Sagestream and LexisNexis?

Re: What do you know about ICS?

Anonymous — Mon, 11 Apr 2016 22:56:20 GMT

@Anonymous wrote:
What is ICS? Is it similar to IDA/Sagestream and LexisNexis?

+1 - what does ICS stand for, what do they do, and who are they?

Re: What do you know about ICS?

OroroMunroe — Mon, 11 Apr 2016 23:04:37 GMT

I'm not quite sure. I'm waiting for a callback with a definitive answer. After Googling, the only relevant ICS reference I found has to do with Visa's Issurers Clearinghouse Service, but I'm not sure. I was hoping someone in the community would know.

Re: What do you know about ICS?

Creditaddict — Mon, 11 Apr 2016 23:10:20 GMT

@Anonymous wrote:
@Anonymous wrote:
What is ICS? Is it similar to IDA/Sagestream and LexisNexis?
+1 - what does ICS stand for, what do they do, and who are they?

i thought they were the same or the company name just changed or something.

Re: What do you know about ICS?

Anonymous — Mon, 11 Apr 2016 23:17:33 GMT

@OroroMunroe wrote:
I'm not quite sure. I'm waiting for a callback with a definitive answer. After Googling, the only relevant ICS reference I found has to do with Visa's Issurers Clearinghouse Service, but I'm not sure. I was hoping someone in the community would know.

Here's what I found:

"Issuers' Clearinghouse Service (ICS)

"A bank card application verification system shared by Visa with MasterCard. ICS verifies an applicant's address, phone and Social Security numbers, and whether he or she has a history of excessive applications or credit card fraud or abuse. ICS is a mandated service for U.S. card issuers that are Visa members. "

So if the lender denied you because of some issue with ICS, you need to find out what info about you is not matching. Have you ever had a problem with identity theft?

Re: What do you know about ICS?

OroroMunroe — Mon, 11 Apr 2016 23:22:05 GMT

@Anonymous wrote:
@OroroMunroe wrote:
I'm not quite sure. I'm waiting for a callback with a definitive answer. After Googling, the only relevant ICS reference I found has to do with Visa's Issurers Clearinghouse Service, but I'm not sure. I was hoping someone in the community would know.
Here's what I found:

"Issuers' Clearinghouse Service (ICS)

"A bank card application verification system shared by Visa with MasterCard. ICS verifies an applicant's address, phone and Social Security numbers, and whether he or she has a history of excessive applications or credit card fraud or abuse. ICS is a mandated service for U.S. card issuers that are Visa members. "

So if the lender denied you because of some issue with ICS, you need to find out what info about you is not matching. Have you ever had a problem with identity theft?

Thanks for the information. No, I have never had an issue with identity theft. My information has been compromised by cell carrier and other places, but that has not resulted in any issues that I'm aware of. I have applied for a number of accounts in the past two years (similar to others on the board), so I'm not sure why that would trigger anything.

Re: What do you know about ICS?

Anonymous — Mon, 11 Apr 2016 23:28:23 GMT

@OroroMunroe wrote:
Thanks for the information. No, I have never had an issue with identity theft. My information has been compromised by cell carrier and other places, but that has not resulted in any issues that I'm aware of. I have applied for a number of accounts in the past two years (similar to others on the board), so I'm not sure why that would trigger anything.

How many accounts have you app'd for? I've app'd for 20+ just in the last 2 years, and I won't even begin to count the number of apps I've done throughout my life that were denied. From a little research, it appears that ICS keeps track of every app that we do - forever - this is similar to ARS. Although I wonder what they consider "excessive"?

Any chance you simply entered some of your info wrong on the app?

Re: What do you know about ICS?

OroroMunroe — Mon, 11 Apr 2016 23:38:05 GMT

@Anonymous wrote:
@OroroMunroe wrote:
Thanks for the information. No, I have never had an issue with identity theft. My information has been compromised by cell carrier and other places, but that has not resulted in any issues that I'm aware of. I have applied for a number of accounts in the past two years (similar to others on the board), so I'm not sure why that would trigger anything.
How many accounts have you app'd for? I've app'd for 20+ just in the last 2 years, and I won't even begin to count the number of apps I've done throughout my life that were denied. From a little research, it appears that ICS keeps track of every app that we do - forever - this is similar to ARS. Although I wonder what they consider "excessive"?

Any chance you simply entered some of your info wrong on the app?

If we are talking total accounts (store cards and bank cards), I've applied for maybe 20 or so in the past two years. I'm wondering how this issue will be resolved. Will I lose the new account? Will I lose my old accounts? The whole thing has me concerned. I also wonder about their definition of excessive. What does it matter if a person pays the bills?

Re: What do you know about ICS?

Anonymous — Mon, 11 Apr 2016 23:47:01 GMT

@OroroMunroe wrote:
If we are talking total accounts (store cards and bank cards), I've applied for maybe 20 or so in the past two years. I'm wondering how this issue will be resolved. Will I lose the new account? Will I lose my old accounts? The whole thing has me concerned. I also wonder about their definition of excessive. What does it matter if a person pays the bills?

I'm going to assume that if the new account shows "closed" on your reports due to this issue with ICS, it will probably remain closed. You really need to get a hold of ICS and see if you can obstain a copy of your report from them, so that you can see what info they have about you. Because from reading on their Website, it appears that their main purpose is preventing fraud, so there is something in your file that they have that is causing concern.

Here's from there website:

Identify consumer fields that were previously used in a fraudulent activity
Identify risky consumer behavior
Identify anomalies in new credit card application activity between data elements that are not visible through traditional risk tools
Identify consumers and businesses that filed bankruptcy
Validate Addresses and Phone Numbers
Identify Social Security Numbers associated with people reported deceased
Identify suspicious Addresses and Phone Numbers

ICS is supported by the Visa U.S.A. Operating Regulations, which require all Visa Issuers to report:

All approved or declined Visa Consumer Credit Card applications
Records for any account that has experienced unauthorized usage
All fraudulent applications, before a loss has occurred.

Re: What do you know about ICS?

OroroMunroe — Tue, 12 Apr 2016 00:34:33 GMT

@Anonymous wrote:
@OroroMunroe wrote:
If we are talking total accounts (store cards and bank cards), I've applied for maybe 20 or so in the past two years. I'm wondering how this issue will be resolved. Will I lose the new account? Will I lose my old accounts? The whole thing has me concerned. I also wonder about their definition of excessive. What does it matter if a person pays the bills?
I'm going to assume that if the new account shows "closed" on your reports due to this issue with ICS, it will probably remain closed. You really need to get a hold of ICS and see if you can obstain a copy of your report from them, so that you can see what info they have about you. Because from reading on their Website, it appears that their main purpose is preventing fraud, so there is something in your file that they have that is causing concern.

Here's from there website:

Identify consumer fields that were previously used in a fraudulent activity
Identify risky consumer behavior
Identify anomalies in new credit card application activity between data elements that are not visible through traditional risk tools
Identify consumers and businesses that filed bankruptcy
Validate Addresses and Phone Numbers
Identify Social Security Numbers associated with people reported deceased
Identify suspicious Addresses and Phone Numbers

ICS is supported by the Visa U.S.A. Operating Regulations, which require all Visa Issuers to report:
All approved or declined Visa Consumer Credit Card applications
Records for any account that has experienced unauthorized usage
All fraudulent applications, before a loss has occurred.

Thanks for the additional information. The whole thing is disconcerting. As I said, other than applying for credit, which may be considered risky I guess, I have no idea why this is happening. I just hope it does not undo things I've done that have improved my credit. I hope this issue can be resolved tomorrow. Thanks again.

Re: What do you know about ICS?

Anonymous — Tue, 12 Apr 2016 00:46:13 GMT

@OroroMunroe wrote:

Thanks for the additional information. The whole thing is disconcerting. As I said, other than applying for credit, which may be considered risky I guess, I have no idea why this is happening. I just hope it does not undo things I've done that have improved my credit. I hope this issue can be resolved tomorrow. Thanks again.

You're welcome. I would definitely be concerned too if I were you. Hopefully its something that can be cleared up quickly. I wouldn't worry about losing any of your older accounts right now - you were already approved without issue, so they should be ok. You just might have issues getting anything in the future until you get it cleared up (except Amex & Discover - it doesn't sound like they take part in ICS, so you should be ok with app'ing for them - but I could be wrong).

Re: What do you know about ICS?

EmmaGolden — Tue, 12 Apr 2016 01:50:08 GMT

This thread may help you:

http://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/Anyone-ever-heard-of-ICS-Issuers-Clearing-House-a-4th-CRA-for/td-p/484249

Re: What do you know about ICS?

Anonymous — Tue, 12 Apr 2016 01:55:41 GMT

@EmmaGolden wrote:
This thread may help you:

http://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/Anyone-ever-heard-of-ICS-Issuers-Clearing-House-a-4th-CRA-for/td-p/484249

Thanks for that link. It looks like (from that link) that ICS is ARS... interesting. If that is the case. OP you can definitely request a copy of your report from ARS (Advanced Resolution Services). ARS sent me a letter last year notifying me that 9 lenders had requested a copy of my report from them, so they said I was entitled to a free report (never got one, but now I regret it).

Re: What do you know about ICS?

Anonymous — Tue, 12 Apr 2016 02:01:11 GMT

What was the credit card you apped for that pulled ICS?

Re: What do you know about ICS?

EmmaGolden — Tue, 12 Apr 2016 02:08:46 GMT

@Anonymous wrote:
@EmmaGolden wrote:
This thread may help you:

http://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/Anyone-ever-heard-of-ICS-Issuers-Clearing-House-a-4th-CRA-for/td-p/484249
Thanks for that link. It looks like (from that link) that ICS is ARS... interesting. If that is the case. OP you can definitely request a copy of your report from ARS (Advanced Resolution Services). ARS sent me a letter last year notifying me that 9 lenders had requested a copy of my report from them, so they said I was entitled to a free report (never got one, but now I regret it).

You're welcome. Hopefully, it helps OP get an answer. From all the research I have done on these smaller CRA's they seem to be used when a lender wants to deny an app from someone with a higher FICO & needs a reason.

Re: What do you know about ICS?

Anonymous — Tue, 12 Apr 2016 02:09:29 GMT

@Anonymous wrote:
What was the credit card you apped for that pulled ICS?

I know your question was directed at the OP, but I can tell you that if ICS is the same as ARS, then almost all lenders pull them. I know FNBO and US Bank are the main ones who deny people based off of ARS, but I know Capital One, Chase, and I believe Comenity check ARS as well, they just don't deny people because of it as much as FNBO and US Bank do.

Re: What do you know about ICS?

EmmaGolden — Tue, 12 Apr 2016 02:13:46 GMT

@Anonymous wrote:
@Anonymous wrote:
What was the credit card you apped for that pulled ICS?
I know your question was directed at the OP, but I can tell you that if ICS is the same as ARS, then almost all lenders pull them. I know FNBO and US Bank are the main ones who deny people based off of ARS, but I know Capital One, Chase, and I believe Comenity check ARS as well, they just don't deny people because of it as much as FNBO and US Bank do.

Comenity pulls Sagestream

Re: What do you know about ICS?

Anonymous — Tue, 12 Apr 2016 02:23:14 GMT

@EmmaGolden wrote:

Comenity pulls Sagestream

Thanks! I knew they pulled one of them. I know SageStream used to be known as IDA, but would you happen to know what type of info they collect about us?

I believe ARS collects info about every app we do for Visa and MC acording to SS# and address. And if I'm not mistaken, they keep those records indefinitely. But I can't remember what info SageStream keeps or for how long.