Credit data reporting services
How and why to report consumer credit data
Winning with data reporting
For us, it’s all about promoting a healthy credit eco-system for everyone.
Reporting consumer data to credit bureaus is essential for your customers to reach their financial goals and imperative for you to grow your business. By reporting credit data to Experian, you can:
- Reduce risky lending decisions – With access to more comprehensive credit data, lenders have a more accurate picture of a consumer’s behavior and can make more informed – and less risky – decisions.
- Minimize delinquencies and collections – Other credit grantors may offer credit to your customer, not knowing that the customer already has an obligation to you. This may result in your customer getting over-extended and negatively impact their ability to pay you.
- Increase on-time payments and collect bad debt – When customers know that their lenders report, they are more likely to pay on time. You can also encourage late payers to resolve outstanding debts before delinquency affects their credit.
- Improve your customers’ experiences and cross-sell – By reporting positive data about your customers, you can reward good behavior and extend additional credit for other products and services.
- Align with regulatory expectations and industry best practices – While credit data reporting is voluntary, you can align with regulatory priorities and best practices to help and protect the consumer throughout their financial journey.
Get Started Today
Reporting credit data to Experian is fast, simple and easy – and we’ll help you every step of the way.
To start reporting consumer credit data to Experian, download our membership contractual documents for consideration. The membership application includes:
- Credentialing Application (with Head Designate section for Experian Internet solutions)
- Data Release Agreement
- Subscriber Questionnaire Document
Once your documents are complete, please submit all three documents to esupport@experian.com.
Reporting Requirements
- Experian can only accept data in Metro 2® format*. Data providers must send data electronically in Metro 2® format–requires Metro2 Software for formatting. (For more information on the Metro 2® format, please visit www.cdiaonline.org.)
- All accounts must be reported every month (e.g., all delinquent and charged-off accounts).
- e-OSCAR* is required for managing off cycle updates and consumer disputes. (For more information on e-OSCAR, please go to www.e-Oscar.org or call 1-866-696-7227).
- Metric Report® provided by Experian is a comprehensive summary of Metro 2® submissions that can help identify and allow you to correct errors within a Metro 2® file.
Note*
Metro 2® is a credit industry standard format that allows flexible and complete information on the consumer’s credit history. In addition, the Metro 2® format meets all requirements of the Fair Credit Reporting Act (FCRA), the Fair Credit Billing Act (FCBA), and the Equal Credit Opportunity Act (ECOA).
e-Oscar The Online Solution for Complete and Accurate Reporting, Metro 2® compliant system that was designed to provide you with an online solution for processing Automated Credit Dispute Verifications (ACDV’s) and Automated Universal Data forms (AUD’s). More information on E-Oscar can be found on their website- http://www.e-oscar.org/
For information on how and why to report property rental data, please visit Experian’s RentBureau at http://www.experian.com/rentbureau or call 1-877-704-4520 to learn more.
For information on Experian’s Business Data Reporting Program, please visit http://www.experian.com/datareportingbusiness
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