Most people are aware of the three main credit bureaus who collect their information into credit reports,
Yet there are others, specialty bureaus, that collect consumer information of sorts.
Even if you’re trying to keep your credit reports good and true,
You may be negatively affected by these other “secret” files on you.
Most people have no idea these specialty consumer reports are tracking their behavior and actions,
Thus, for example, when a new bank account is denied, many have shocked reactions.
A specialty credit report is tailored toward a particular industry and designed for a specific need,
Employers, insurance companies, landlords, banks, and others utilize these specialty reports, indeed.
Upon the original credit reports, creditors decide whether to extend credit and on what repayment terms,
Upon the specialty reports, creditors predict consumer behavior in other areas, or so these reports purportedly confirms.
One popular specialty consumer report relates to check-writing,
Bounced checks and accounts closed due to fraud or insufficient funds are indicting.
Another reports on your tenant history, as in all your rental history,
Eviction actions obtained from court records or previous landlords are included so there’s no mystery.
One report is dedicated to the history of your insurance claims,
To accurately depict any and all of your homeowner and car insurance is what it aims.
Many are in the dark that there is a report on your medical history for creditors to see,
Routine health information and medical conditions such as diabetes, asthma, or depression—on the report they will be.
Another widely used specialty report goes over your prescription use,
Apparently prescription drugs used, dosages, and refill history are important things to introduce.
One other common specialty credit report includes your employment background,
This screens for criminal history, marital status, prior addresses, and to see if your diving record is sound.
Unlike a normal credit report with both positive and negative represented,
If you knew how negative specialty reports are, you’d be discontented.
Thus, what you don’t know can hurt you,
You may not know that companies look to these incognito reports, yet oftentimes it’s true.
These specialty reports provide details others rely on to deny you many things:
Employment, a bank account, apartment rental, health, life, or auto insurance—it can be rather disturbing!
While a consumer may not have a report at every specialty credit bureau right now,
It is to your benefit to learn if anything has been reported and whom is on the prow!
By the time most are notified of being denied based upon information in a specialty report, the damage is done,
If this happens there are some steps you can take, just don’t sit back and take none!
Obtain the required notice of adverse action and request a copy of the odious specialty report,
Dispute any and all information that is inaccurate, obsolete, or has no support.
Remember, consumers have important rights,
This is to put you on equal footing in all consumer fights.
Take advantage of your right to one free copy of your specialty report each year,
Also, if denied anything based upon the report, you get one free, so don’t fear.
You have the right to dispute inaccurate date or an obsolete fact,
The specialty bureau must investigate your dispute, any inaccurate or outdated records it must retract.
Finally, you have a right to be advised of a background check,
An employer must notify you, get your permission, before starting that trek!
See what’s on your specialty reports to avoid a potentially embarrassing moment,
When applying for employment, a bank account, apartment rental, or insurance, these reports may be an additional opponent.
Certain circumstances lead to ordering a specialty consumer report of yours,
Opening a new bank account? Order a report from ChexSystems, as your checking account usage it stores.
Planning to rent a home for a bit?
Order your tenant history report to see what records it does emit.
When applying for private health insurance, as well as life, long-term care, or disability insurance—
Check your MIB report from the Medical Information Bureau, for assurance.
Find out the name of the screening company when applying for employment,
Order a copy of your report prior to authorizing release to a third-party—Oh the enjoyment!
As an individual request must be submitted to each specialty agency, it can be overwhelming no doubt,
Definitely not as straightforward as obtaining credit reports from Equifax, Experian, and TransUnion, as all know their clout.
These reports lie quietly in wait and spring out at people when it will hurt the most,
Controversial, scary, and rarely timely disclosed to consumers—a specialty report seems covert as a ghost!
No one should be blindsided by these highly secretive reports, especially you.
Join me in sharing this important secret—consumers everywhere should be causing an uproar, a hullabaloo!