Discussion in 'Credit Talk' started by doodyhead, Oct 30, 2001.

  1. doodyhead

    doodyhead Well-Known Member

    How does one subscribe to the bureaus in order to report information? Could I issue myself a credit card and report the information on myself?
  2. roni

    roni Well-Known Member

    Yes... If you had the $ to get approval from Visa/MC whatever and paid the reporting fees to the CRAS.....
  3. PsychDoc

    PsychDoc Well-Known Member

    I've not heard that term before. Is that the phrase CRA personnel use when discussing the subscriptions paid by their customers? Quite interesting!

  4. OtherTerri

    OtherTerri Well-Known Member

    That is an interesting question.
  5. KHM

    KHM Well-Known Member

    While I was on the phone with Experian and I made a comparison to the 'other 2' the woman said the reason why they all report differently is because some creditors 'subscribe' to all 3 some only choose one bureau. She said it mostly varies on the size of the corporation and what they have to lose by not reporting to all 3.
  6. PsychDoc

    PsychDoc Well-Known Member

    I'd bet "reporting fees" is a phrase usually used by CRA employees when speaking with or referring to how their customers (banks, creditors, etc.) pay for their services. Whenever you hear somebody use insider terminology like that (present company within this thread excluded, of course, LOL, cough), you can bet you're listening to someone who works for Trans Union, Equifax, or Experian.

  7. anna

    anna Well-Known Member

    Verrrry Interssssssssssssssting!
  8. OtherTerri

    OtherTerri Well-Known Member

    What would they lose by not reporting to a cra? I guess I'm not too bright!
  9. fla-tan

    fla-tan Well-Known Member

    1) In order for a business to belong to or be a member of a CRA they have to pay monthly fees just the same way you or I would pay a monthly membership fee to belong to a gym or health club. In addition, the CRA also charges the business a fee every time they request a credit report on a potential customer. This fee can range from a few dollars on up depending on how detailed a report they want. This why most businesses on pull one report per customer(though some will pull multiple, especially if the first is in the questionable range score wise). The CRA's also charges them each time they report payment history to them. Many businesses don't find it particularly cost effective to report to all three major bureaus.

    2) Each CRA is stronger in a particular region, for example, here in Fl Equifax(Credit Bureau) is the CRA that is most often pulled and I think Experian is the main CRA for Tx(though not positive). If you have moved from one region to another, this can also cause a business to pull an additional report on you(this is often called pulling a "bureau" [this is not insider talk...LOL]).

    Hope this helps to some extent

  10. fla-tan

    fla-tan Well-Known Member

    Acutally, it takes alot more than just having the $s. You also have to pass through several layers of certification not only with VISA/MC but you also have to pass muster with the Comptroller of the Currency, the Fed Res Banks and your state banking regulators. Under VISA regs, only a financial institution may offer a "bank card" and that is what both VISA and Mastercard are.

    At one time several business partners and I actually looked into buying a bank so we could offer credit cards and merchant processing services, but it was to costly and the hoops we would have had to jump through were overwhelming.

    Good thought though

  11. roni

    roni Well-Known Member

    LOL... its a term used by people who sell B to B... I'll let you think about that... Still wondering who I am Doc? :)
  12. PsychDoc

    PsychDoc Well-Known Member

    Bkev, lol, well I do have a guess as to your real identity. Here goes... I'm Jewish, and as a little boy (three decades ago) my parents didn't want me to feel left out at Christmas. So I got lucky -- I had both Hannukah AND Christmas. My parents, having a unique sense of humor, told me that "Santa Claus Iskowitz" came to visit Jewish children. Of course, that pretty much defeated any effort to shield me from feeling different from most of the other kids in the neighborhood, but I digress. Anyway, through the years "Santa Claus Iskowitz" has always evoked a chuckle and quite a few warm memories. Now, ever since you first appeared here on the board (about a month after I did, so we're both relatively new compared with the old-timers), I suspected that you weren't quite who you represented yourself to be. At one point you were just a curious individual who eagerly asked others to share their views on credit repair. Next you were just someone who was repairing his or her (you didn't tell us your gender for quite some time) own credit. Lately you claimed to be a mortgage broker. One wag in the chat room mentioned that he'd never seen a mortgage broker who was more concerned about credit repair laws than about selling new mortgages, LOL, but again I digress. Maybe you were just a curious newcomer who knew nothing who was repairing his/her own credit who was also a mortgage broker who knew everything about everything -- hey, it's possible. About a month into things here, though, you began to demonstrate an incredible depth of knowledge -- uncanny sheer detail -- about how credit reporting agencies work, what their employees do, how they do it, how a CRA representative should classify a particular dispute, the terminology they use, etc. You especially seemed well acquainted with Trans Union policies and procedures. Although I've only been on Creditnet since June, I've been around on other boards and internet newsgroups regarding finances and consumer credit for quite a number of years, and I'd never seen anybody quite like you before. I suppose my background in psychology helped me to notice and remember the details, the consistencies, and the inconsistencies. It was for all these reasons that I finally drew a conclusion -- based upon my observations and my trained clinical eye -- regarding your true identity. I am convinced, sir, that you are Santa Claus Iskowitz. Bkev, I dare you to prove me wrong. :)

  13. velma

    velma Member

    Santa Claus Iskowitz

    LMAO! Seriously, that would be a great childrens story, you should write a book. But please, leave out the suprise BKEV ending.
  14. OtherTerri

    OtherTerri Well-Known Member

    Re: Santa Claus Iskowitz

    Has anyone checked Bkev's IP address? Is he posting from the North Pole -LOL
  15. bbauer

    bbauer Banned

    Hey Doc!

    I got a real problem and you are a real smart feller, so maybe you can help me out.
    I sure hope you can because this problem is so bad that I'm probably going to need your professional help if I don't get it figured out. I just won't be able to go to sleep at night until I get this problem resolved, and so if I can't get it figured out, I'll probably turn into one of them there imsomniacks or somthin.

    Now then as I've said many times, I got this real fancy software to be able to track down IP numbers and I feed in the following sequence of numbers and I'll be damned if it don't come up to be in Atlanta, Georgia every time. Just can't get the programs to do anything but come up with the same stupid address in Atlanta.

    Now I know that my programs has all got to be wrong, so I'm losing all this sleep trying fo figure out what might be causing my programs to come up claiming that that IP is in Atlanta, Ga. when I just can't believe that's the truth.

  16. PsychDoc

    PsychDoc Well-Known Member

    Hmm, Bill, I hate to tell you, but your fancy software took a left turn and headed south. Think Disneyland.

  17. LKH

    LKH Well-Known Member

    Doc, it wouldn't happen to be Fullerton, California would it?
  18. PsychDoc

    PsychDoc Well-Known Member

    LOL, I don't know because I don't wanna know. :) I just like to guess. As John Sculley, the former CEO of Apple Computer and a fine California citizen at that, once opined: "The journey is the reward."

  19. numnuts20

    numnuts20 Well-Known Member

  20. KHM

    KHM Well-Known Member

    I would assume to damage the persons credit file withll 3 bureaus. It makes it easier for us to obtain credit if we know who pulls inquiries from what bureau. I have a bunch of medical bills on TU and TU only. So if I know an inquiry is gonna be pulled from TU I don't bother in applying. Hope that makes sense.

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