Secret credit report? 6NEWS investigates
02/05/2003

By nbc6.com and 6NEWS Staff


Your credit can make or break you. Many Americans safeguard their good financial name by pulling their credit reports from the "big three" credit bureaus. But most don't that there is a fourth one that’s collecting information about millions of Americans.

Kristy Welsh, author of "Good Credit is Sexy," said Innovis appeared on the scene a few years ago, but just recently became a major player dealing in the kind of personal information you find in a credit report.

"Bankruptcies show up, foreclosures, credit cards, those kinds of things," Welsh said.

Innovis collects information, but unlike the other agencies, doesn't sell it to car loan companies, mortgage lenders, or potential employers. Instead, it sells to creditors who compile mailing lists for things like charge cards.

Negative information on an Innovis report could prevent a person from getting favorable credit offers.

"They do maintain credit information about consumers, and consumers do have a right to see those reports and correct any errors," said Joel Winston, Federal Trade Commission.

After all, like any credit bureau, mistakes can happen.

Some customers caught wind that Innovis existed at one Better Business Bureau and found problems on their Innovis report.

"They are involving information that are on people's credit reports that was incorrect information," said Deana Wade, Better Business Bureau.

The information was corrected, but what's maddening to credit experts is how difficult it is to contact Innovis.

The big three offer credit histories online. For Innovis there is not a link, a phone number or a word how to do it.

We managed to get an Innovis report after phoning Innovis headquarters where we were given a number to call for recorded instructions.

"Well, they're kind of moving by stealth in my opinion,” Welsh said. “They're not broadcasting that they're around, they're not broadcasting where you can get your credit report, how you can get your credit report."

Innovis issued a statement saying, "Innovis is not involved in providing services that can result in the denial of applications for credit, insurance or employment." The company claims its only product, failsafe, tells marketers about customers who are credit risks.

When we asked if they planned to expand their services, or if they shared information with other credit agencies we got no reply.

The number to call to see what Innovis has on file about you is 1-800-457-0247. The report costs about $9. Federal law says if you've been denied credit because of something on your credit report... You can get the information free.

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