The question, "Should we be reporting our customers credit history and if so, why?" is often asked. The simple answer is yes. Credit history data opens doors. We can obtain a loan to start a small business, buy a home or to help pay for our chlidren to go to college because of a credit report. Data protects us from crimes like identity thefts.
A credit report supplies important information about a perspective customer, tenant, employee, etc. Each report contains a record of their credit history that includes information about:
Credit reports are important because lenders, insurers, employers, and others may obtain a credit report from credit bureaus to assess how a consumer or business manages financial responsibilities. For example:
CDIA consumer data reporting
Federal Reserve - credit