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Adding cell phone payments as good credit


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It most certainly is. For more info visit this site...

http://www.prbc.com/consumers

I really like mine. Apparently though, after 6 months of "good history" you ask them to "verify" and that's how it gets reported. Make sure to read ALL the fine print, I like it myself...but everyone has to make the best decision for themselves.

Good luck!

Elyse

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It most certainly is. For more info visit this site...

http://www.prbc.com/consumers

I really like mine. Apparently though, after 6 months of "good history" you ask them to "verify" and that's how it gets reported. Make sure to read ALL the fine print, I like it myself...but everyone has to make the best decision for themselves. Good luck! Elyse

Highly recommended by me! To enroll is free. No monthly fees. After you enroll and enter your information online, you must fax or mail copies of your Contracts and/or Billing Statements and pay $15 for each Account Verification ($20 for Rent Verification). PRBC will merge your PRBC CR with the big 3 major CRAs. When you apply for credit, the lender pulls your CR and receives your PRBC Report and PRBC Score.

I like mine too. With four (4) positive Accounts my PRBC Score went from 0 - 696 upon Verification, in less than 2 weeks.

Reminder: You ARE the "furnisher of information" with PRBC. Provide information and documents only for Accounts that you pay timely. In Good Standing. No Lates. Paid as Agreed. No Negative stuff.

I am adding two (2) additional positive Accounts in February 2007 to increase my PRBC Score. My goal is a PRBC Score of 800+ by July 2007.

Read their site carefully, as suggested by Elyse, and email PRBC if you have any questions, whatsoever. The PRBC Staff is always courteous and respond to consumers within 24 hours (excluding weekends).

Good luck!!!

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It looks like PRBC is a CRA that YOU report to. Do they report to the big CRA's?

PRBC will merge your PRBC CR with the big 3 major CRAs. When you apply for credit, the lender pulls your EQ, EX, or TU CRs and receives your PRBC Report and PRBC Score.

Is this the same as Reporting to the big 3? Any corrections appreciated. Thx.

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Nothing in life is guaranteed, except inaccurate or incomplete CRs by the big 3. It appears that Mortgage lenders are considering PRBC Reports and Scores. PRBC sure cannot hurt.

Quote:

"Before ordering a PRBC Verification, you should have a minimum of four (4) verifiable payment accounts (i.e. rent, electric, phone, cable, etc.). For first time verifications, payment accounts should have a minimum of six (6) months of payments. However, twelve (12) months may be required to qualify for an FHA-insured loan. Twenty-four (24) to thirty-six (36) months may be required for other prime rate products. Continuing verifications should have accounts which have not been updated in the past 3 months."

PRBC Scores help,where 35% of the FICO Scores is based on Bill Payment History. PRBC = Pay Rent, Build Credit, (Payment Reporting Builds Credit).

PRBC accepts and verifies current Bill Payments and Bill Payment History for most major Billers that you now pay:

Rent, Private Mortgages, Cable, Satellite, Cellular, Phone, Utilities (Electric, Natural Gas, Heating Oil, Water, Sewer), Insurance Premiums, Day Care, Child Support Payments, Alimony Payments, Student Loans, Business Loans, Unsecured Loans, Secured Loans, Parking Garage, Self-storage, Auto Loans, Furniture Leases, Appliance Leases.

Additional Information:

Quote:

"When applying for a mortgage, depending on the rest of your credit history, an electronic record of 12 or more consecutive on-time Payments that can be scored will help you qualify and/or obtain a lower interest rate. An electronic record of 36 consecutive on-time rent or mortgage payments generally helps the most."

Quote:

"Can PRBC help me Rebuild my Credit?

Yes. Supplementing your existing credit bureau file(s), if you have one, with a positive PRBC Report and Bill Payment Score will provide a more complete and accurate picture of you as an applicant when you apply for housing, credit, insurance, and employment. Under Federal law, namely the Equal Credit Opportunity Act, whenever a credit report is used to assess your creditworthiness, accounts that are reflected in your PRBC file must be considered at your request if they are not already in your other credit

report(s)."

Take control of your financial future now!

Visit www.PRBC.com for more information.

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  • 2 weeks later...

"About PRBC

PRBC is a consumer reporting agency that collects, stores, scores, and reports bill payment data for "permissible purposes" under the Fair Credit Reporting Act. It is the first credit bureau to give consumers and small businesses the tools to demonstrate their creditworthiness without the need to go into debt.

In addition to receiving payment data from creditors and financial institutions’ bill payment services, PRBC has partnered with the National Credit Reporting Association to verify trade line accounts and up to three (3) years worth of prior payments that are reported directly by consumers to PRBC.

Lenders can purchase a PRBC Reportsm depicting a consumer’s bill payment history either on a standalone basis, or merged with Equifax, Experian, and TransUnion credit reports. Each PRBC Report is accompanied by a PRBC Bill Payment Scoresm (BPSsm). PRBC Reports and the BPS are used in the absence of a traditional credit report, or to supplement one in order to gain a more complete and accurate risk assessment of an applicant. A PRBC Report may also be used as a "non-traditional mortgage credit report" (NTMCR) that meets and exceeds secondary market standards for documenting creditworthiness.

PRBC does not charge consumers or small businesses a fee to enroll in the service or to view their own payment data at any time.

PRBC advocates that Payment Reporting Builds Creditsm and can be accessed at www.PRBC.com."

So tell me, exactly WHO pulls from this "CRA"?

For WHO, please see, paragraph 3 above.

Has anyone using this service actually had ANYONE pull the report from it?

Have not applied for credit for ANYONE to pull the report from it. Just enrolled in Dec 2006. Four (4) Verifications completed in Jan 2007 indicating a PRBC Score 696. It's a step in the right direction for ALL consumers suffering with ongoing disputes, inaccurate and incomplete credit histories at the hands of the three major CRAs, OCs, CAs, JDBs and Debt Repurchasers upon DRs.

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I understand the pitch. I also understand that there are enough people trying to cheat people with poor credit to not trust anyone who claims to have the next great idea.

Think about this- if you were a creditor, would YOU want to trust lending YOUR money by pulling a CRA that ONLY reported what the APPLICANT wanted you to see? I wouldn't.

I understand who CAN pull from them. What I want to know is who DOES pull from them, and how it will help me before I cough up my hard earned money.

Until I see how this works, promises are talk, and talk is cheap.

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I understand the pitch. I also understand that there are enough people trying to cheat people with poor credit to not trust anyone who claims to have the next great idea.

Please. PRBC is regulated by the FCRA as the big 3. The big 3 cheats millions of consumers with good and poor credit every day, 24/7 by routinely accepting and reporting inaccurate and unverifiable information.

Think about this- if you were a creditor, would YOU want to trust lending YOUR money by pulling a CRA that ONLY reported what the APPLICANT wanted you to see? I wouldn't.

Please. Creditors are now pulling CRAs that ONLY reports what the OCs, CAs and JDBs want them to see. When a person applies for credit, the lender pulls from the big 3 and the PRBC Report and Score is merged with the reports from the big 3 for a more accurate and complete credit history, which includes rent payments, private mortgages, non-prime auto loans, cable bills, telephone bills, cell phone, child support, alimony. Which are not reported by the OCs or CAs unless the account is delinquent.

May be you wouldn't lend. But ALL creditors are required under the Equal Credit Opportunity Act (ECOA) to consider PRBC Reports and Scores, where they are reviewing EQ, EX and TU CRs for creditworthiness, upon a consumer's request of course.

I understand who CAN pull from them. What I want to know is who DOES pull from them, and how it will help me before I cough up my hard earned money.

Huh? What money? Enrollment is FREE. It only costs $15 to verify the payments in your file, $20 for rent payments. That's it. There are no hidden fees or additional costs. To date I have coughed up or "invested" a "whopping" $95 for verification of 6 accounts. That's peanuts compared to what I have spent on paper, ink, gasoline, copies, faxes and CMRRRs to the CAs and the big 3 and still spending.

Upon request, ALL potential creditors, ALL lenders, MUST pull my PRBC Report and Score when they pull from EQ, EX and/or TU. It's the law.

Until I see how this works, promises are talk, and talk is cheap.

Yep!

For the benefit of those who don't believe. Check this out:

This is what some very important people are saying:

National Association of Mortgage Brokers - "The National Credit Reporting Association and PRBC are taking huge steps within the credit reporting industry to offer significant benefits to millions of consumers. The National Association of Mortgage Brokers strongly supports this exciting new partnership because it will provide a great way for consumers to build their credit history and credit score by including recurring bill payment information and payday advance repayments, which is a solution that has never been offered before. This agreement should help people have an equal opportunity to prove their creditworthiness and ease the way toward a more secure financial future. As the voice of mortgage brokers in all 50 states, NAMB commends any steps taken to help people realize their dreams of homeownership and financial security." Michael Nizankiewicz, Executive Vice President
Montgomery County, Maryland Council - "I strongly support the partnership between the PRBC and the National Credit Reporting Association to enable millions of hard-working people to demonstrate their creditworthiness. This partnership is based on the simple proposition that information is power. This program will enable potential homeowners to provide critical information to potential lenders about their housing rental payment history, utility bill payment history, and other critical bill payment history.

Currently, millions of creditworthy borrowers are left out of the traditional credit mainstream in the United States, even though they are making rental payments and other bill payments in a timely manner. This partnership will provide an equal opportunity to help them build their credit scores with rental and other recurring payments.

This partnership is a progressive step forward in addressing the social and racial disparities associated with access to credit. Indeed, access to credit is one of the greatest civil rights challenges of the new millennium. Pursuing the American dream of homeownership is tough enough under the best of circumstances. For millions of racial and ethnic minorities, this dream is even more elusive because they are left out of the credit mainstream. This partnership will enable all creditworthy people to demonstrate that they are ready, willing, and able to realize the American dream."The Honorable Thomas E. Perez, Council President

Your honor, I rest my case. Visit the PRBC.com website for more info. Where you are not interested DO NOT ENROLL for FREE.

Have A Nice Day.

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Why are you schilling for them so hard? You seem intent on sending people there. Do you own stock in them or something?

I repeat: Is there anyone here who can tell me that a creditor approved them for credit after pulling a PRBC credit report? (not you June, since you are schilling for them)

Is there a bank that is making lending decisions by pulling PRBC reports?

The secret is ANYONE can open a CRA. All you need is a computer and internet access. That doesn't mean that lenders will use your service. Save your money, folks.

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One thing I found kinda sketchy about this organization is that the 800 line was not staffed when I called (middle of the day yesterday). I was told to leave a message....this makes me uneasy.

FS

Try this:

PRBC's VP of Sales, Matthew Vitko, whom can directly answer any specifics.

He may be reached at 1-877-PRBC 123 x 8041.

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Why are you schilling for them so hard? You seem intent on sending people there. Do you own stock in them or something?

No. But I have been considering investing in some "JDB club." That's where the money is. (Only kidding!)

I repeat: Is there anyone here who can tell me that a creditor approved them for credit after pulling a PRBC credit report? (not you June, since you are schilling for them)

I beg your pardon! Only trying to provide information for those with less than perfect credit scores with the big 3 and those who want to report positive TLs to supplement their EQ, EX and TU Scores.

Is there a bank that is making lending decisions by pulling PRBC reports?

I would like to think that banks and other lenders are pulling PRBC Reports and Scores along with EQ, EX and TU Credit Reports and Scores as required by the ECOA.

See,

1.Review your Bill Payment History:Before ordering a PRBC Verification, you should have a minimum of four (4) verifiable payment accounts (i.e. rent, electric, phone, cable, etc.). For first time verifications, payment accounts should have a minimum of six (6) months of payments. However, twelve (12) months may be required to qualify for an FHA-insured loan. Twenty-four (24) to thirty-six (36) months may be required for other prime rate products. Continuing verifications should have accounts which have not been updated in the past 3 months.
The secret is ANYONE can open a CRA. All you need is a computer and internet access. That doesn't mean that lenders will use your service. Save your money, folks.

PRBC is endorsed and regulated by the FTC. Lenders are required by law to pull PRBC Reports and Scores where they pull the big 3 reports and scores.

Enrollment is FREE. Yep, folks save your $15 - $20 (for Verifications) and DO NOT report positive recurring bill payments for yourself. Allow the OCs, CAs and JDBS to continue reporting inaccurate and incomplete TLs, only when you become delinquent. Yep, Save your money !!!

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The FTC doesn't ENDORSE anyone. As far as being regulated, Arrow Financial, LVNV and even Enron are "regulated" by the FTC. All businesses doing interstate business are regulated by the FTC. That is a red herring.

All I am saying is that I have not heard of ONE lender who grants credit on a PRBC report. Name one.

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The FTC doesn't ENDORSE anyone. As far as being regulated, Arrow Financial, LVNV and even Enron are "regulated" by the FTC. All businesses doing interstate business are regulated by the FTC. That is a red herring.

Whoops! My mistake about the FTC.

PRBC is:

A break-through equal credit opportunity that empowers consumers and small businesses to establish and build a credit file and score with rental and other recurring bill payments; A patent pending innovation that has been pre-qualified as a "community development service" for Financial Institutions by the Federal Reserve Board, Office of the Comptroller of the Currency, Office of Thrift Supervision, Federal Deposit Insurance Corporation, and by the State of New York Banking Department; A secure, reliable, and socially responsible Data Network that can deliver its data electronically into the leading automated underwriting solutions.

How long has PRBC been around?

Pay Rent, Build Credit, Inc. (PRBC), based in Annapolis, Maryland, was incorporated in March 2002. It is now doing business as PRBC because it tracks all recurring bill and loan payments, not just rent. PRBC can be found on-line at www.prbc.com.

Is PRBC a reputable company?

PRBC is funded by a grant from the Ford Foundation, and its Charter Data Subscribers include Fannie Mae, Freddie Mac, and Citimortgage. Those supporters agree that a PRBC Report(sm) would be a valuable supplement to a credit report from one of the “big 3” credit bureaus - Equifax, Experian, and TransUnion. Also, many national bank regulators, including The Federal Reserve and the FDIC, encourage payment reporting to PRBC because it helps consumers build credit."

All I am saying is that I have not heard of ONE lender who grants credit on a PRBC report. Name one.

CitiMortgage.

CitiMortgage is the first financial institution to publicly announce that it has signed a Data Subscriber agreement with PRBC and serves on PRBC's Technical Steering Committee. CitiMortgage says it will use the PRBC Data Network to give loan applicants the credit they deserve for paying their rent and other bills on time. "CitiMortgage supports the Pay Rent, Build Credit Data Network as a means of enhancing our programs to bring affordable shelter financing to first time and/or disadvantaged future homeowners. This service is of particular interest to the Credit Risk Management Department as we seek new ways to model credit behavior to an evolving borrower target market, and to support the design of loan programs to meet their needs and more accurately measure risk," explained Citi's Chief Credit Officer, Jefferey Polkinghorne.

About CitiMortgage

CitiMortgage, Inc. specializes in nationwide residential lending through retail, wholesale, and correspondent loan origination channels. CitiMortgage is an Equal Housing Lender. For more information, visit their website.

Oh! I have not applied for credit or "new debt" as of yet. Just enrolled in PRBC in December 2006 and Verified in January 2007. Not ready to apply for any new debt for the benefit of those who don't believe. I'll let non-believers know when a lender "grants" credit on my EQ, EX, TU CRs and PRBC Report and Score. PRBC is a supplement to the big 3.

Bye now.

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Divemedic, thank you for your comments and opinion.

To all others, consider this, if you will.

It is never a WASTE of money (Free PRBC Enrollment, $15 or $20 Verification Fees) to supplement your EQ, EX, TU CRs and Scores for loan approvals and decent loan rates. Never.

PRBC is a form of easy and inexpensive Credit Repair without damages and never-ending disputes. Continue on with your regular Credit Repair. Just add PRBC to your "To-Do List," so that your supplemental PRBC Reports and Scores will be there when you need them.

Have a great day!

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It's my understanding that this reporting is added to your main credit reports and any creditor can "choose" to look at it should they think it will apply.

As for me? I didn't care. It made me feel GOOD to know I was making my friggin' payments on time...it was a step, ya know? It helped ME to be more accountable for my finances. And I'm glad for it because I feel I am much more cognizant.

LOL...interesting...the three main credit bureau's don't "verify" crap in all reality--they take the info they're given and slap the crap on there and it's taken as gospel until a consumer sees their own credit files and nags about it. Hmmm...oh well.

Elyse

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Why are you schilling for them so hard? You seem intent on sending people there. Do you own stock in them or something?

I repeat: Is there anyone here who can tell me that a creditor approved them for credit after pulling a PRBC credit report? (not you June, since you are schilling for them)

Is there a bank that is making lending decisions by pulling PRBC reports?

The secret is ANYONE can open a CRA. All you need is a computer and internet access. That doesn't mean that lenders will use your service. Save your money, folks.

I don't think ANYONE can say DEFINITIVELY that any creditor SOLELY grants credit based on any ONE thing.

It's always a myriad of issues that contributes to whether or not a person is accepted as a customer. It isn't JUST CR's either, it's income--it's whether or not you have past history with that firm, etc, etc. A lot goes into credit granting but in all fairness, I sincerely doubt ANY company is basing their SOLE decisions on the PRBC reporting, sure. I don't mean to horn in on this disagreement or whatever, but truly this service has helped me. But than I always make sure to add that we all need to make the best decision that applies to US, not someone else.

Elyse

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You report whatever payments...but here's their verification process BEFORE they will report the info you've given...

http://prbc.com/consumers/how/verification.php

Here's what they say on how they report...

A: PRBC merges your PRBC Consumer File with your files from the "Big 3" credit bureaus in PRBC Reportssm to give lenders, insurance companies, and employers a more complete and accurate picture. PRBC will also license the "Big 3" credit bureaus to have access to your PRBC Consumer File for "permissible purposes" as defined by the Fair Credit Reporting Act (FCRA). This means that when you apply for housing, credit, insurance, and employment and give your permission, Equifax, Experian, and TransUnion will be able to add your PRBC Consumer File to reports ordered by those who you authorize. PRBC will restrict Equifax, Experian, and TransUnion from adding you and your PRBC information to their mailing lists, as PRBC will not sell consumers� personal information for marketing purposes.

Is there a fee for their service?

PRBC does not charge consumers a fee to set up a Consumer File and to view their information at any time. PRBC does not charge landlords, billers, or lenders to report on your behalf. PRBC sells credit reports (like the Big 3) upon your consent, when you apply for housing, credit, insurance, and employment.

Is there a fee for verification procedure?

Yes. Here it is...

All PRBC verification of payment history can go back up to 36 months, you must have a minimum of 6 months of payment history to order the verification. The average cost for a verification of Rent and 3 additional payment accounts (i.e., electric, phone, cable, etc.) is $65.00.

Anytime we expect work from others, we can expect to pay for it. If you do not want to pay for services, do not order them or sign up for them. A program like this (or any other for that matter) is not for EVERYONE. We must be responsible as consumers and read ALL necessary forms/pages prior to signing up for ANYTHING. Scrutinize it to death if you want to, it's your money and your time-so it's worth it. As for me, I can not afford 65.00 per verification and have thus cancelled my account with PRBC. This doesn't mean it wouldn't work for someone else, but I just can't afford that given my circumstances.

Elyse

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Yes, $65.00 is correct for Verification of 4 Payment Historys for up to 36 months. After making 6 months of additional payments on those same Accounts, (six months down the line) you may order Updates/Verifications for $65.00 to keep your Accounts current. If you are not applying for new credit, you are not required to Update at all.

You may order the Verifications only as you need the PRBC Reports and Scores to be evaluated by a potential lender. It only takes a few days for PRBC Updates, which includes faxing or mailing your most recent Invoices.

Enrollment is free. There are no contracts to sign. No mandatory Updates.

No mandatory fees. No monthly fees. There is nothing to cancel or close.

PRBC is a CRA. Once you report your positive accounts and PRBC verifies them, you are in their system. I did not know that consumers could cancel or close their accounts with the CRAs! Wish I could simply email and cancel with the big 3. I would do it in a heartbeat. :wink:

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