CIS provides credit reports from the 3 national credit bureaus, Equifax, Experian, and TransUnion, to companies.  CIS provides these credit reports to companies that have permissible purpose and authorization to pull credit, all of which is regulated under the Fair Credit Reporting Act

If a CIS client, who may be a mortgage originator, mortgage banker, bank, credit union, landlord, property management company, housing counselor, has pulled your credit report, you may see CIS Solutions LLC or CIS Info Services on your list of inquiries.

Below you will find helpful information on obtaining your credit report and addressing any inaccuracies that may be on your credit report.

Credit Bureau contact information

Equifax 800.685.1111, www.equifax.com

Experian 888.397.3742, www.experian.com

TransUnion 800.916.8800, www.transunion.com

Website for self-pull credit:  www.annualcreditreport.com

Annualcreditreport.com is the only recommended site by all 3 national credit bureaus for self credit-pulls.  Each bureau will provide a consumer their report annually, free of charge through annualcreditreport.com.

How to read a CIS credit report

Click here for a CIS Credit Report Legend

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Disputes

Equifax, www.equifax.com, dispute address: PO Box 740256 Atlanta, GA 30374

Experian, www.experian.com, dispute address: PO Box 2104 Allen, TX 75013

TransUnion, www.transunion.com, dispute address: PO Box 34012, Fullerton, CA 92831

The consumer report copy accessed at www.annualcreditreport.com includes a code and phone number for use when disputing by phone to the credit bureaus.

Industry Resources

Annualcreditreport.com: consumer website to pull credit report, free of charge

Myfico.com: detail on FICO score, dispute information and much more

Consumer Finance Protection Bureau: (CFPB) detail on consumers rights under the FCRA

Federal Trade Commission: (FTC) protects consumers rights, works with the CFPB to enforce FCRA

Fair Credit Reporting Act: (FCRA) promotes the accuracy, fairness and privacy of information in the files of Consumer Reporting Agencies (CRA)

Mortgage FICO Score

FICO credit score onlineNumerous credit score versions exist, including multiple versions of the FICO score. The FICO score used by the mortgage and lending industry uses a different scoring algorithm than the FICO score included on consumer credit card statements and available through consumer monitoring services and credit education websites. Different industries (auto, retail, tenant, insurance) use score algorithms that are unique from the mortgage FICO score.

Payment History (35%)

Delinquencies reported by creditors are the primary indicator of risk.

Amounts Owed or Outstanding Debt Utilization (30%)

Amount of outstanding balances and the proportion of the balances to total credit limits (debt utilization) is another primary credit risk indicator.

Length of Credit History (15%)

Date opened is reported with each tradeline on a credit report.  Shorter debt history can correlate to higher risk, but this is only a factor if other negative factors exist.

New Credit (10%)

A high number of inquiries on a borrower’s credit and numerous accounts opened in the last year are potential indicators of higher risk, however, the other data in the report carries greater impact in calculating the score.

Multiple mortgage inquiries count as 1-inquiry if made within a short period of time.

Certain types of inquiries do NOT impact your score including self-pulls, requests made by lenders for pre-approval offers, monitoring inquiries by creditors with whom there is an existing account, & employment credit.

Type of Credit Used (10%)

The presence & prevalence of various types of accounts including mortgages, credit cards, retail accounts, installment loans, auto loans etc., provides a more complete indicator on credit risk as payment patterns can be viewed across different types of accounts.

Credit Freeze 

Click here for a CIS FAQ on Credit Freezes

Secured Card

Build credit with ALL 3 credit bureaus, starting within 30 days!

How it works:

1. Register online

2. Deposit $200 or more into an FDIC-insured account

3. Receive a VISA credit card not a debit or prepaid card

4. Use Secured Card anywhere VISA is accepted

5. Pay the monthly minimum before the due date each month

Payments are reported to all 3 credit bureaus monthly!

Benefits:

No credit check required for approval.
No checking account required.
Build credit fast with monthly reporting to all 3 credit bureaus.
Choose a credit line of $200 or more, secured by a fully-refundable security deposit.
Security deposit required before card is issued. See terms & conditions.

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