Featured Article

 by: Michael Saunders

Did you know that there's a fourth credit bureau of considerable influence in this country? The company is called Innovis, and you might want to contact Innovis and find out what information this company is reporting about you.

As recently as 2003, Innovis denied that it was actually in the credit-reporting business. There are numerous published reports in which the company flat-out denied that the information it gathers or sells about consumers could be used by creditors for the purpose of extending credit. Shortly thereafter, consumer advocates - like the Public Interest Research Group (PIRG) - starting insisting that Innovis was in fact a credit bureau and should have to abide by the same rules as other credit agencies.

After some outside pressure and scrutiny, Innovis now acknowledges that it is, indeed a credit reporting agency. According to published reports, Innovis primarily collects negative information about consumers: things like late payments, judgments, bankruptcies, collection accounts, repossessions, and so forth. That information is then sold to banks and other financial institutions. Well, if you do get credit offers, you certainly want them to be the best ones available, like low interest rate balance transfers, for instance.  (continued...)
Innovis: The Credit Report You've Probably Never Heard Of
  Page 2

About The Author Michael Saunders has an MBA from the Stanford Graduate School of Business. He edits a site on Credit Repair and Debt Consolidation and is president of Information Organizers, LLC.