Becoming “first-in-wallet” is an advantage for many companies who report consumer payment data to Experian. Since experiencing risk is part of business, companies like yours are in search of simple and effective tools that have the potential to make a significant impact. By reporting your consumer accounts receivable data to Experian, you can minimize the occurrence of late payments or defaults in your account base.
Reporting consumer credit data is a simple process when working with Experian. The following information will help you understand the basic requirements for reporting as well as provide an opportunity to contact our team and begin reporting credit.
What are the benefits of reporting to Experian?
Metro 2 is the industry-standard format required for reporting to Experian. It meets all requirements of the Fair Credit Reporting Act (FCRA), the Fair Credit Billing Act (FCBA), and the Equal Credit Opportunity Act (ECOA).
e-OSCAR, the Online Solution for Complete and Accurate Reporting, is a browser-based Metro 2 compliant system that provides you with an online solution for processing disputes.
To protect your data, Experian requires electronic data submission. The approved methods use a secure 128-bit encryption via HTTP, FTPS, or SFTP, and several transmission methods are free.
Contact us today to learn more about reporting your customers' credit activity to Experian. Call us at 1 800 831 5614, Option 3.
Financial institutions are responsible for regulatory compliance when requesting and using consumer reports. Get started with these FCRA requirements today.
Experian offers products and services to help you locate hard-to-find debtors, and to prioritize your collection efforts.