|The need for a credit rating that is
recognized by home and auto lenders, insurance companies, employers and
others is fundamental. Millions of Americans do not have traditional
credit relationships and, therefore, are unable to develop credit
files. As a result, they cannot obtain the credit they need at
|They are targets for subprime
loans for cars and homes despite the fact that these same consumers pay
rent, utility and other bills in cash on a monthly basis without fail at
neighborhood FSCs. These payments are not reported to the top three U.S.
With that in mind FiSCA formed an alliance
(Payment Reporting Builds Credit), an FCRA- compliant credit bureau to
enable these cash-based consumers – for the first time ever - to
build a credit file and score (sometimes immediately upon sign-up) based
on their history of making rent and other recurring bill payments.
The PRBC credit score can be used to demonstrate
creditworthiness when applying for housing, credit, insurance, and
employment. Through the credit scores provided by this collaboration
between FiSCA & PRBC, it is anticipated that customers will obtain
needed auto, mortgage and other loans at prevailing rates, get better
rates on insurance products, and enjoy other benefits not previously
available to them.
No other program exists to provide these responsible
consumers the access to credit that they deserve.