Definition
Innovis is a credit bureau that is geared toward collecting and reporting negative credit information.
Analysis
Innovis is sometimes referred to as the “secret credit bureau” since very few consumers even know about its existance. It began as Associated Credit Bureaus in 1970 and is located in Columbus, Ohio. Innovis Data Solutions began acting as a credit repository for consumers in 1989.
The role of Innovis as a consumer credit bureau is a bit murky. Innovis credit reports are not used by lenders, creditors or insurance companies for inquiry purposes. You cannot be denied a job or a line of credit due to an Innovis credit check.
Instead, Innovis works to provide information to lenders that helps them improve marketing and verification of consumer information. Believe it or not, the validity of your Innovis credit report can affect the quality of prescreened offers that you receive from lenders. Lenders also use Innovis credit reports to authenticate certain requests and to identify instances of fraud.
In 2001, Freddie Mac and Fannie Mae began requiring mortgage servicers to report payment histories of their borrowers to Innovis. Whereas Freddie Mac requires that all payment information be reported, Fannie Mae only requires that negative information, such as delinquencies and foreclosures be reported.
Innovis provides two main products to lenders:
- New Movers: This monthly list of consumers that have recently moved allows for the targeted solicitation by companies that specialize in servicing recently relocated families. These could include telephone companies, satellite and cable systems and other interested parties.
- FailSafe: This database of consumers with a history of late payments allows for a final screening of mailing lists before a lender sends out a mass targeted solicitation campaign. By eliminating the so called “undesirables” that have a history of delinquencies, a lender may focus on the less risky prospects.
Contacting Innovis
- Online:
- Phone:
- Order your credit report or place a fraud alert: 1-800-540-2505
- Mail:
- Order Credit Report
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- Fraud Alert:
