Payment Reporting Builds Credit (PRBC Credit Report):
A Way to Supplement Negative Credit Files with Positive
Information
by Lisa Phillips
A Way to Supplement Negative Credit Files with Positive
Information
by Lisa Phillips
| Copyright RebuildCreditScores 2008. All Rights Reserved |
Types of information contained in a PRBC credit report
The information contained in a PRBC Report include rent, utility, cable,
telephone, insurance, cell phone, loans from friends and family
members, child support and even daycare provider payments. PRBC
keeps track of consumers’ history of paying rent, utility and other bills
which are not reported by Experian, Equifax and Transunion.
How it works
Consumers or small business owners sign-up for enrollment and once
enrolled, you will be able to document positive payment history in a
PRBC credit file by reporting your payments for these types of bills.
You will be able to view your report for free at any time. When applying
for credit you can request the credit issuer pull your PRBC report and
the credit issuer will pay a fee to PRBC to view your report.
The cost to create a PRBC report
While there is no fee for creating a PRBC credit file, there is a fee to
the consumer for PRBC to verify the timely payments you report to
your file. Credit issuers requesting your PRBC credit file also pay a
fee to view your file. If you choose to use one of PRBC’s online bill
payment partners, you can request your payments be reported to
PRBC automatically as you pay your bills and no verification fee will be
charged.
The cost for verification of on-time bill payments
First, there is a six (6) month minimum payment history requirement in
order to have your payments verified. The cost of verification varies
depending on the type of information you request verified. For
instance, a rental history verification may be $20.00 while a utility
verification may be $15.00. You can request package deals for
verifications which include cable, phone and electric bills.
Who views PRBC credit files
Upon your consent PRBC sells credit reports to lenders when you
apply for housing, credit, insurance, and employment. PRBC does not
sell your information to telemarketers or other marketing firms. Unlike
the three major credit bureaus, you can view your PRBC report as
often as you would like, free of charge. You maintain control over who
will view your PRBC report.
Not all credit issuers and lenders accept PRBC Reports. You will have
to inquire with lenders, credit granters, employers or insurance
companies to see if they will allow you to supplement your traditional
credit bureau information. Recently, Fannie Mae and Freddie Mac
began accepting PRBC Credit Reports for underwriting purposes. This
may be an excellent way to increase your chances of getting approved
with good rates when you apply for credit. For more information visit:
www.prbc.com
The information contained in a PRBC Report include rent, utility, cable,
telephone, insurance, cell phone, loans from friends and family
members, child support and even daycare provider payments. PRBC
keeps track of consumers’ history of paying rent, utility and other bills
which are not reported by Experian, Equifax and Transunion.
How it works
Consumers or small business owners sign-up for enrollment and once
enrolled, you will be able to document positive payment history in a
PRBC credit file by reporting your payments for these types of bills.
You will be able to view your report for free at any time. When applying
for credit you can request the credit issuer pull your PRBC report and
the credit issuer will pay a fee to PRBC to view your report.
The cost to create a PRBC report
While there is no fee for creating a PRBC credit file, there is a fee to
the consumer for PRBC to verify the timely payments you report to
your file. Credit issuers requesting your PRBC credit file also pay a
fee to view your file. If you choose to use one of PRBC’s online bill
payment partners, you can request your payments be reported to
PRBC automatically as you pay your bills and no verification fee will be
charged.
The cost for verification of on-time bill payments
First, there is a six (6) month minimum payment history requirement in
order to have your payments verified. The cost of verification varies
depending on the type of information you request verified. For
instance, a rental history verification may be $20.00 while a utility
verification may be $15.00. You can request package deals for
verifications which include cable, phone and electric bills.
Who views PRBC credit files
Upon your consent PRBC sells credit reports to lenders when you
apply for housing, credit, insurance, and employment. PRBC does not
sell your information to telemarketers or other marketing firms. Unlike
the three major credit bureaus, you can view your PRBC report as
often as you would like, free of charge. You maintain control over who
will view your PRBC report.
Not all credit issuers and lenders accept PRBC Reports. You will have
to inquire with lenders, credit granters, employers or insurance
companies to see if they will allow you to supplement your traditional
credit bureau information. Recently, Fannie Mae and Freddie Mac
began accepting PRBC Credit Reports for underwriting purposes. This
may be an excellent way to increase your chances of getting approved
with good rates when you apply for credit. For more information visit:
www.prbc.com
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It gives the consumer
and small businesses a
way to build a credit file
to demonstrate
creditworthiness.
Payment Reporting
Builds Credit produces a
PRBC Report and Bill
Payment Score that can
be used to supplement
your Experian, Equifax
and Transunion credit
reports.
and small businesses a
way to build a credit file
to demonstrate
creditworthiness.
Payment Reporting
Builds Credit produces a
PRBC Report and Bill
Payment Score that can
be used to supplement
your Experian, Equifax
and Transunion credit
reports.
A PRBC Report can show that you have paid your bills on time. They maintain
your bill payment history in your file for seven years. This information will only
be shared with your permission.
your bill payment history in your file for seven years. This information will only
be shared with your permission.
What is Payment Reporting Builds Credit
 | Apply for easy credit to Raise Scores | |
| Tips to Rebuild & Improve Credit Scores | |
| 10 Steps to Build Business Credit | |
| Rapid Re-Score Credit Files | |
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(“PRBC”) is a FRCA compliant national consumer reporting agency and credit
bureau which collects, stores and reports bill payment information for consumers
as well as small business owners.
bureau which collects, stores and reports bill payment information for consumers
as well as small business owners.
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