Who are eligible to report to credit bureaus?

To report to the credit bureaus (Experian, Equifax, TransUnion and Innovis), certain entities must meet specific eligibility criteria. Generally, the following types of organizations and individuals are eligible to report:

1. Lenders and Creditors
Banks and Credit Unions.
Credit Card Issuers.
Mortgage Lenders and Brokers.
Auto Loan Providers.
Personal Loan Companies.
Retailers offering store credit (e.g., department stores).

2. Collection Agencies
Debt Collection Agencies are eligible to report accounts in collections to the credit bureaus once they have purchased or been assigned the debt.

3. Service Providers
Utility Companies (e.g., electricity, gas, water).
Telecommunications Providers (e.g., phone, internet, cable)
(Some utility and telecommunications providers report, though it’s not as common unless the account goes into collections).

4. Landlords
Property Managers and Landlords can report rent payment history if they are enrolled in a reporting service.

5. Auto Dealers and Leasing Companies
Vehicle Financing Companies and Auto Dealerships that offer financing may report lease payments or financed vehicles.

6. Government Entities
Government Agencies (e.g., student loan servicers, tax authorities).
Certain government-backed loans or collections (like federal student loans) are reported to credit bureaus.

7. Credit Reporting Agencies
Third-Party Credit Reporting Services can also report to bureaus on behalf of clients (e.g., rent or loan data).

Eligibility Requirements

Agreement with the Credit Bureaus: Entities must enter into agreements with the credit bureaus, often through a data furnisher agreement.

Adherence to Regulations: Reporting entities must follow credit reporting standards (such as Metro 2® format for accurate data submission).

Frequency of Reporting: Regular, typically monthly reporting is expected.

If you’re thinking about whether your business or entity can report to the bureaus, or if you’re looking to start reporting, use the button below to get in touch with us.

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