The term 'credit report services' refer 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 take the world economy towards highest levels of affluence and dynamism. In fact, the credit report services always try to solve effectively, the problems faced by consumers, thereby improving their overall customer service levels.
Common services rendered by different worldwide credit report organizations:
- One of the most common credit report services is to prepare both residential and commercial credit reports.
- The credit report organizations consider making of credit reports and their time-to-time re-assessments as important parts of their credit report services.
- The credit report services are normally characterized by swiftness, reliability and accuracy.
- Credit scoring as integral part of the credit report services, has helped both credit granters and lenders, the scope for evaluating 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 are required, in order to prepare a successful credit report:
- Name of the person or the company concerned
- Residential/commercial address, both current and past
- Date of birth of the individual or the organization
- Modes of payment of the bills
- Credit-worthiness of the person or the organization concerned
- Details about the individual's income
- Name of the former employer and designation, in case of individuals
- Name of the partner/partners, in case of business firms
- Credit limits
- Social security number
