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The 4 credit card bureaus...

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Anonymous
Not applicable

Re: The 4 credit card bureaus...

I'm going to request mine. I only have 3 cards though , 2 are Capital One so if they use it, it should be there.

I did the "what is Innovis" google prior to posting, not the "who uses". Thanks for posting the shortcuts! 😀 I will scour the webs.

I typically search topics to death. I did not search "Innovis" specifically prior to posting, but after. There's a thread about it in March. But in all of the threads I did search prior, it didn't come up once. I thought it was interesting that a rep replied that they might use it. Hopefully if/when someone searches discover, this will come up for information purposes, whether it's common or not, valid or not- kwim?
Message 11 of 23
Anonymous
Not applicable

Re: The 4 credit card bureaus...

CreditGuyInDixie ... great list! In my research to put "freezes" on anything I could find my list grew to thirty-three different "Information Gathers" and "Credit Bureaus" by legal definition.

It became quite overwhelming to say the least. I stopped at the list you have set forth. Note, there is growing concern over the Medical Information Market place and there lack of availability to the consumer yet, they seem to share informational data with outside sources such as the Medical Information Bureau (our medical records in some cases) which may affect our lives related to insurances as an example (actually some insurance companies do pull from MIB).

Message 12 of 23
calyx
Super Contributor

Re: The 4 credit card bureaus...

Discover pulled my Innovis when I applied.
So did USBank.

Happy practitioner of AZE7or8or9or10 | Team Finances > FICO
Message 13 of 23
Anonymous
Not applicable

Re: The 4 credit card bureaus...

I heard of them when I was researching my Authorization with Discover, Discover card sent out a letter to me, stating they send information to the following Bureaus (Big 3) Plus Innovis. Went to the Innovis website, inputted my information and they sent me a credit report, no score. The weird thing is the Discover account showed up on their report that I am authorized on but not my personal Capital One account, I assume Cap1 doesnt report to them.  I didn’t bother disputing the information since I don’t really think anyone uses them at all, as I checked inquires on the report and there were none.

 

Invois.jpg

Message 14 of 23
KLEXH25
Valued Contributor

Re: The 4 credit card bureaus...

Interesting...

“You can do a credit check with Innovis and receive a copy of their credit report, but that isn’t their primary service. For the most part, Innovis deals directly with businesses to authenticate consumer data, sometimes for use in pre-approved credit and insurance offers. One thing that Innovis doesn’t provide that the other credit bureaus do is a credit score.”

Source: https://www.banks.com/articles/credit/credit-bureau/


Message 15 of 23
KJinNC
Valued Contributor

Re: The 4 credit card bureaus...

Can Innovis become a big 3 bureau, replacing the dumpster fire that is Equifax? Smiley Tongue



FICO Resilience Index: 64. Cards: 5/24, 2/12, 2/6. Accounts including loans: 8/24, 4/12, 3/6. Card CLs total $213,900, or $240,400 including the AU card. Cards (oldest to newest)

Authorized user / Corporate / Auto loans / Personal loan
Message 16 of 23
sarge12
Senior Contributor

Re: The 4 credit card bureaus...

OP.....I have heard of Innovis before, as well as others including LexisNexis, but I have never heard them refered to as a major CRA. I think their relevence is about the same as the VS 3.0 credit score. There are just too many of the little known CRA's and credit scores to keep tabs on IMHO, unless you are denied credit approval based on a pull from that beaureau. For the record, I have never seen anyone post that they were denied credit based on a pull from Innovis on any board, but to be fair, people do not usually post which beaureau their credit was pulled from when they receive a denial. When you are denied credit based on a credit pull, the law requires that the CRA pulled be provided to the consumer, and often it is even provided when approved. It is my understanding that even LexisNexis is more relevent to the consumer as it is often used to set your rates on auto insurance. I think the Innovis report would be seriously lacking in info, because many lenders do not report credit info to them, and the vast majority do report to the 3 major CRA's. In my opinion, it is not worth the effort to pull that report unless you receive a denial based on a pull from them, just as it is worth little to get a VS 3.0 credit score. The following identifies 6 other credit reporting agencies, but strangely does not include LexisNexis.

 

https://www.thebalance.com/6-small-credit-reporting-agencies-consumers-should-know-about-4210980

TU fico08=812 07/16/23
EX fico08=809 07/16/23
EQ fico09=812 07/16/23
EX fico09=821 07/16/23
EQ fico bankcard08=832 07/16/23
TU Fico Bankcard 08=840 07/16/23
EQ NG1 fico=802 04/17/21
EQ Resilience index score=58 03/09/21
Unknown score from EX=784 used by Cap1 07/10/20
Message 17 of 23
Anonymous
Not applicable

Re: The 4 credit card bureaus...

I have a current Innovis report from early March.  I scanned the inquiries page and erased personal info before posting.  I got a Cash+ card back in June/July 2018.  There were no US Bank inquiries for the card however I got a PLOC in February and it seems they did pull Innovis for that.  What I can't figure out is the what seems like a HP from Goldman Sachs.  I do play with prequals all the time and I have filled out info for Marcus.  I have never applied and have been to that prequal plenty of times.  Maybe it was coded wrong?

 

Inno1.jpg

Message 18 of 23
Anonymous
Not applicable

Re: The 4 credit card bureaus...

@sarge-
Well, that makes sense. Perfect sense.
Nope, I haven't been denied for anything and I don't plan on applying for anything until at least September.
Message 19 of 23
Anonymous
Not applicable

Re: The 4 credit card bureaus...

It does seem like that was a hard pull because of the wording that you requested it.
But they also use it for pre-qualified offers so that could be it also. I wonder if it states that because you requested the pre-qual. But then, wouldn't all of them be on there(since you wrote that you've done it more than once)?
Message 20 of 23
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