Credit Report Services for people with limited credit or no credit or poor credit took a giant leap into the future at the end of 2007 when PRBC (Payment Reporting Builds Credit) and the Fair Issac Company joined together to provide lenders with a new type of credit report.
The PRBC Credit Report with FICO Expansion Score will include rental payments for people who do not own a home, bill payment information from third parties such as utilities and credit bureau information if it's available.
How PRBC Works
- Consumers enroll themselves for a PRBC account at no cost.
- PRBC maintains your bill payment history in your file for seven years but does not share your file without your permission.
- A PRBC Report and Bill Payment Score can show that you have paid your bills on time for up to the past three years
- You must have a minimum of six (6) months of payment history to order a verification.
- You will pay a small fee to have PRBC verify your bill payment history.
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What Credit Can You Include?
- Cable bill
- Rent
- Payments for a cell phone service
- Payment to a Daycare Center
- Payment for Insurance
- Payment for your Electric Bill
- Payments for your natural gas bill
- ...and more
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Who Can Benefit?
- People searching for a poor credit credit card
- People looking for a prepaid credit card
- Young people with no credit history
- People re-establishing themselves after a bankruptcy
- People looking for a secured credit card
- ...and many more
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The PRBC Credit Report with FICO Expansion Score will provide lenders with their best tool for assessing the credit risk of nearly 50 million adults who have little or no credit history on file, including recent immigrants and young adults.
AccountNow Prepaid MasterCard from MetaBank is one example of a prepaid card that reports credit activity as a way of helping customers build their credit histories. This can be an excellent way for teens and college students to begin building a good credit history.
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