TransUnion Unveils New Credit OpticsTM Plus Score Mira Ride

Some organizations, such as banks and insurance companies, may use SageStream to determine a potential customer’s creditworthiness. This combination allows TransUnion customers to augment their segmentation strategies and credit decisioning to better predict risk and reduce exposure. He explained that the company is focused to a large extent on providing lenders with information about millennials, people aged 18 to 34 who may have scant credit histories. A recent study by Bankrate found that two-thirds of millennials don’t have credit cards. When you think about your credit score, it’s usually the FICO credit score, one of our nation’s most widely used credit scores.

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It also seems like the report is missing some critical details, such as auto and mortgage loans, and several paid-in-full loans from 2018 and 2017, as well as a half-paid line of retail credit. Try 150+ pages 🤦🏽‍♂️  Nothing to dispute really, unless I wanted to spend the time disputing out dated information over 10+ years old. FYI – I recently requested a copy of my SageStream CR and they sent it (which only included data from Ally Financial and NSTN, whoever that is) and also included a copy of my Innovis CR. I called and asked if Innovis had been acquired by SageStream or vice versa and the explanation I got was “we use their data, otherwise we are unaffiliated with them.” You can freeze both Sagestream and ARS but keep in mind sometimes freezing these 3rd parties can restrict/prevent you from getting a loan approved.

• SageStream does not offer an option to initiate disputes online.
• However, SageStream is part of the LexisNexis® Risk Solutions company that provides information solutions to businesses and governments to help them predict and manage risk.
• Scorelogix LLC offers the JSS Credit Score, which assesses credit risk based on job history, income, and the impact of the economy.
• LexisNexis Risk Solutions offers security freezes–and lifts security freezes–free of charge.

Equifax says it ran all of its AI-based scoring technology past the OCC, Fed and CFPB and got a positive response. ID Analytics said it worked closely with lawyers, compliance officers and regulators to assure the technology complied with various lending rules. Elevate is deploying its new, AI-based models gradually, starting with 1% of potential borrowers, testing the results, and gradually applying them to more people.

Any inquiries NOT deemed as having a permissible purpose, will not return any consumer information. Creditor use LN, Insurance companies and you name it they likely use it. Lexis nexus has alot of information about everyone alot accurate and some not very accurate. Can dispute things on report I believe although never bothered as dont feel like ready and disputing 50+ pages of stuff the overall doesn’t have a huge personal bearing on me other than some security questions that I will sagestream credit optics score never get correct.

The three bureaus are also not the only reporting agencies out there – all of which are under the purview of the Fair Credit Reporting Act. If you can handle your accounts and have longetivity your scores goes up. Dinging someone for changing a phone number but also dinging someone whose phone number is in a different area code is just silly. The combined solution has proven to reduce the number of delinquent or poorly performing accounts booked, while maintaining approval rates of good accounts.

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A Behavioral Risk Score (0 to 999) is used by Comenity Bank and Comenity Capital Bank. These lenders may use SageStream’s data to supplement the information in your credit report from the major credit bureaus. This can help them to make more informed decisions about your creditworthiness. Many consumers have discovered their SageStream credit score is often lower than credit scores calculated at the major credit bureaus. The new score takes an innovative approach to assessing creditworthiness by leveraging traditional credit bureau data with dynamic identity information within the ID Network®, the only real-time, cross-industry compilation of identity information. Credit Optics Plus determines stability, a critical component of credit decisioning, by analyzing a consumer’s use of their identity elements.

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Using this unique network of identity information has proven highly valuable for ID Analytics’ customers, including leading financial institutions, retailers, healthcare companies, auto and mortgage lenders, telecommunications services, and government agencies. “By combining our intellectual capital and real-time visibility into consumer behavior, ID Analytics and TransUnion have delivered a deeper and more predictive view into the creditworthiness of consumers.” CRedit’s main goal is to help you improve your credit, keep it healthy, and support you in the decisions you make that may affect your credit livelihood.

• That means consumers with SageStream files can request a free copy of their report, dispute errors and inaccurate information, in addition to requesting a SageStream freeze.
• We facilitate the connection between financial specialists with individuals who need the services.
• Personally, I have some incorrect information on my Sagestream reports and attempted to correct them.
• Lexis nexus has alot of information about everyone alot accurate and some not very accurate.
• The use of AI offers lenders the ability to get a precise look into someone’s creditworthiness and score those previously deemed unscorable.

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This can be an issue if you need an error corrected immediately. For instance, there may be items that are too old to be reported. The major credit bureaus typically remove obsolete items immediately when you speak with a representative or when that type of dispute is submitted online. This won’t happen with SageStream’s mail-only dispute policy.

Request Your Security Freeze Online

The use of AI offers lenders the ability to get a precise look into someone’s creditworthiness and score those previously deemed unscorable. LexisNexis Risk Solutions offers security freezes–and lifts security freezes–free of charge. Last reason was “too many subprime inquiries” which I really do not understand. I’m assuming they are talking about that single inquiry for prepaid phone. Sorry — just had to get that off my chest — there are sooooo many of these niche “Credit reporting agencies” now that it is impossible to keep up with all of them and know who is using what.

There are two main reasons to use artificial intelligence to derive a credit score. The other is to be able to consider people who might not have been able to get a credit score in the past, or who may have been too hastily rejected by a traditional logistic regression-based score. In other words, a method that looks at certain data points from consumers’ credit history to calculate the odds that they will repay. ID Analytics, the leader in on-demand identity intelligence, protects both organizations and consumers by providing unprecedented visibility into fraud risk and credit potential.

But it’s important to note that lenders or credit card companies can request that you remove a freeze when applying for credit. If they can’t see your report, they may not extend the credit. Another challenge to using artificial intelligence, specifically neural networks, in credit scores and models, is that it’s harder to provide the needed “reason code” to borrowers — the explanation of why they were denied credit. The ID Network includes data from over one billion consumer transactions and more than two million confirmed identity frauds.