Innovis

July 17th, 2010

Experian, TransUnion, and Equifax offer basically the same credit rating, Credit Report, and Credit Score service, but your credit reports from those three credit bureaus won’t be the same, and neither will your three credit scores. You never know which report a particular lender is going to use, but for a large loan like a mortgage, a lender will check all three of your credit reports.

What is Innovis?

As we mentioned earlier, there is a fourth credit report, Innovis. It doesn’t report your credit information to lenders, landlords and employers won’t pull its credit report, and you’ll have to do a little digging to find it.

What is Innovis Data Solutions?

Innovis Data Solutions provides information to creditors who are compiling mailing lists. The idea is to cut their costs by screening out those consumers who have blemishes on their credit report; that way, institutions can send information only to those people with top-notch credit and avoid offering credit to higher-risk consumers.

In one way, a negative Innovis report is kind of a bonus: It means that you get less junk mail. Nonetheless, you may want to see your Innovis report and make sure that there are no surprises on it. Innovis asks that consumers request their credit report in writing.