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Have You Heard About Credit Reports From Innovis?

Posted: Mon Nov 10, 2014 8:20 pm
by Administrator
Have You Heard About Credit Reports From Innovis?



I'll bet you haven't heard of Innovis either. The company sells consumer credit reports to lenders and banks. I had heard about Innovis until I read this Consumerist post:


"Sure, you've heard of Experian, Equifax, and TransUnion, but what about Innovis? Smaller agencies can do just as much damage to your ability to get a good deal on credit as their bigger brethren."
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Why has it been hard for consumers to not hear about Innovis? It seems like this company has flown under the radar. Here's what I've learned so far about Innovis:
•The company is headquartered in Columbus, Ohio
•Innovis is owned by CBC Companies
•Besides the www.innovis.com site, the company also operates the www.cbcinnovis.com site
•CBC Innovis sells a variety of consumer credit reports to businesses and lenders
•CBC Innovis also sells a variety of consumer mortgage-related credit reports to businesses
•CBC Innovis provides services for employers screen job applicants and for landlords to screen renters
•You can place a Fraud Alert or a Security Freeze on your Innovis credit report

An October 2005 San Francisco Chronicle article reported:


"For the past five years, a company called Innovis Data Solutions has been quietly collecting reams of consumer info from a variety of lenders. Sometime next year, the company says, it will begin using its vast database to compile and market credit reports on millions of people -- whether they want Innovis to or not. This will make Innovis the fourth major player in the growing world of national credit reporting agencies... These are the companies that keep track of people's credit histories and can make or break a loan application. They're also the ones that make you jump through bureaucratic hoops if your identity is stolen or you're a victim of fraud."
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Some consumer advocates were cautious, since in 2005 it was unclear whether or not Innovis would be open and transparent in its communications with consumers. In my view, consumer credit reporting companies need to be open and honest for several reasons. First, identity theft and fraud have mushroomed during the past five years. Second, corporate data breaches continue to expose millions of consumer records and sensitive personal data. Third, consumers need to monitor all of their credit reports for accuracy and fraud.

http://ivebeenmugged.typepad.com/my_weblog/2008/11/credit-reports-from-innovis.html