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What do you know about ICS?

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Valued Contributor

Re: What do you know about ICS?


@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.
Message 11 of 24
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Contributor

Re: What do you know about ICS?


@JustMe3 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. 

Gardening until 1/1/2017 or bust

Message 12 of 24
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Valued Contributor

Re: What do you know about ICS?


@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).

Message 13 of 24
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Frequent Contributor

Re: What do you know about ICS?

Message 14 of 24
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Valued Contributor

Re: What do you know about ICS?


@EmmaGolden wrote:

This thread may help you:

 

http://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/Anyone-ever-heard-of-ICS-Issuers-Clearing-Hou...


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).

Message 15 of 24
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Senior Contributor

Re: What do you know about ICS?

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

Message 16 of 24
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Frequent Contributor

Re: What do you know about ICS?


@JustMe3 wrote:

@EmmaGolden wrote:

This thread may help you:

 

http://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/Anyone-ever-heard-of-ICS-Issuers-Clearing-Hou...


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. 

Message 17 of 24
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Valued Contributor

Re: What do you know about ICS?


@CAPTOOL 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.

Message 18 of 24
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Frequent Contributor

Re: What do you know about ICS?


@JustMe3 wrote:

@CAPTOOL 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

Message 19 of 24
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Valued Contributor

Re: What do you know about ICS?


@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.

Message 20 of 24
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