The term ‘credit report services’ refers to the diverse activities performed by different credit report companies and agencies across the globe. It is the joint efforts of these agencies and companies which takes the world economy towards the highest levels of affluence and dynamism.
In fact, the credit report services always try to effectively solve the problems faced by consumers, thereby improving their overall customer service levels.
Common services rendered by different worldwide credit report organizations:
Prepares both residential and commercial credit reports.
The credit report organizations consider the making of credit reports and their time-to-time re-assessments as important parts of their credit report services.
Credit scoring is an integral part of the credit report services.
It has helped both credit granters and lenders evaluate the credit-worthiness of possible borrowers since 1980s.
Collection of detailed information about an individual or a commercial organization, prior to making the credit reports is also an important credit report service.
The following information is required, in order to prepare a successful credit report:
Name of the person or the company.
Residential/commercial address, both current and past.
Date of birth of the individual or organization.
Modes of bill payment.
Credit-worthiness of the person or the organization concerned.
Details about the individual’s income.
Name of the former employer and designation, in the case of individuals.
Name of the partner/partners, in the case of business firms.
Social security number