On-Site Inspection – What you need to know

If you’re going to report credit data to the credit bureaus, you’ll need an on-site inspection in order to get started.

Meeting about an on-site inspection to verify a legit business

On-site inspection meeting to verify a legit business

The only exception to this rule is rental payment reporting. If you’re reporting residential credit information, you are not subject to an on-site inspection by the credit bureau(s).

All other types of credit reporting require the inspection. On-site inspections usually take 30 minutes or less.

Before your inspection is scheduled, the credit bureaus will need to receive your [Data Furnisher Agreement: Link] Once they have that, the bureau will assign an approved, licensed inspector to schedule your in-person inspection. They do this to ensure you are running a legitimate business and have a permissible purpose to report.

On-Site Inspection: What are they checking for?

  • That there is a physical location and that your business does not operate strictly online.
  • That you have permissible purpose to both pull and report credit data on your customers.
  • That a locking filing cabinet is present on premise to stores all sensitive documents and applications with credit information.
  • That a paper shredder is located on premise for the purpose of destroying all credit information that may have been printed out.
  • That the computer used to access, view, or download credit information is password protected.
  • That the building is secure and has locking doors and is not a shared space.
  • Pictures will be taken by the inspectors of your location and any marketing material for your business in order to verify you meet bureau compliance and FCRA requirements.

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