issuers clearing house (ics)

Discussion in 'Credit Talk' started by jtw, Aug 20, 2001.

  1. jtw

    jtw Well-Known Member

    Now we have another big brother watching us when we apply for mc and visa. This database has been in existence since 1989. I only found out about it this month. had no idea it existed. I thought there was no war a bank would know if I had applied for a card if it did not show on my credit bureau. This is a catch all program that will show them every single time you have applied for a visa or mc.

    This ought to be illegal. Now they have the Big 4 instead of the big 3. It is not a well known fact about ICS. Visa and MC banks keep this info hush hush.
  2. Maer

    Maer Well-Known Member

    Are you allowed copies of your reports from them? Can you dispute?
  3. supershawn

    supershawn Well-Known Member

    You are very right....GOOD CALL!

    "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. "

    It looks like ICS might be broken down in a few software applications named 'Falcon' and/or 'CRIS'.

    Here are some links.....

    (note, it is actually called Issuers Clearinghouse Service if you do a search) (lots of good info on this site, check out the .pdf newsletters)

    Hope this helps!


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