If you’re among those who furnish credit account data regularly to credit reporting agencies, you’ve no doubt heard about the Metro 2 Format. The credit reporting industry has adopted a standard electronic data reporting format called the Metro 2 Format, and it’s designed to assist data furnishers, including banks, credit […]
What is Credentialing, and How Does It Work?
June 28, 2019 By Leave a Comment
Reporting payment data to the credit bureaus is important to any business that extends credit to businesses or consumers. However, not every business makes the effort to report to the bureaus. Why? Sometimes, it’s because the credentialing process seems a hurdle too high to conquer. What is credentialing? Credentialing is […]
Winning With Credit Data Reporting
May 14, 2019 By Leave a Comment
Let’s face it: the days of sealing a deal with a handshake are far behind us. Today, a credit score and data from a credit report are much more important than friendships or character when it comes to financial decisions. Banks and other financial institutions have relied upon credit data […]
How to Report to the Credit Bureaus
May 14, 2019 By Leave a Comment
There are lots of reasons WHY you should report your customers’ and tenants’ payment data to the major credit bureaus. Reporting credit reduces your risk of late payments, creates a record of both positive and negative payment histories, and helps your organization to maintain a great reputation for fair and […]
Reporting Commercial Credit: The Stick Is Not As Bad As You Think
November 16, 2018 By Leave a Comment
Using the “stick” method of reporting commercial credit to get clients to make regular on time payments is highly effective as well. Contrary to the reward method, a negative report on a business’ credit score can be just as effective. The truth is that you’re not going to have many […]