What is the business prerequisite for using CreditAPI?
CreditAPI is designed for companies that have a permissible purpose to access consumer credit reports from the 3 credit bureaus: Experian®, Equifax®, or TransUnion®. End-users of CreditAPI will need to be vetted by Credit Reporting Services, LLC to retrieve credit reports.
What do I need to get set up with CreditAPI?
To get set up with CreditAPI, please contact Credit Reporting Services, LLC and ask to speak with a CreditAPI representative. The CreditAPI representative will gather your requirements and provide the contract to initiate the setup process. Once the contract is executed, CreditAPI will be set up with your specific requirements.
Subscription Plan Starting September 1st. 2021
In order to offer credit data to as many people as possible, we have developed a low minimum monthly subscription plan starting only at $49.99 a month.
- 10 single bureau prequal (soft inquiry) reports with a score model
- 7 regular credit reports (hard inquiry) with a score model
How long does it take to get set up with CreditAPI?
Setup of CreditAPI typically takes about 5 to 7 business days depending on the requirements. Setup doesn’t start until the paperwork is completed and the end-user has subscriber code(s) with at least one of the bureaus. 3rd party integration with CreditAPI will depend on the integrator’s technical experience and familiarity with credit data. Given the experience level, it could take less than a day to integrate with CreditAPI.
What are the technical requirements for CreditAPI?
CreditAPI is a web-based interface that is compatible with any client-side environment. The only technical requirement is the ability to post requests via HTTPS with 128 bit SSL encryption.
What’s the typical response time?
2 to 3 seconds for 1 bureau credit report. 11 seconds for a 3 bureaus merged credit report.
What’s the availability of CreditAPI?
CreditAPI is available 24/7
What data formats are supported?
CreditAPI supports the following common format: HTML, MISMO, PDF, TEXT, XML, X12
What method of communication does CreditAPI support?
CreditAPI supports both asynchronous and synchronous communication via HTTPS post. We recommend asynchronous communication as it doesn’t tie up your system’s resources.
What is the recommended data format?
This depends on your business needs. Most CreditAPI users go with XML for machine-readable and PDF for human readable.
Should we enable additional security measures supported by CreditAPI?
Yes. CreditAPI also supports IP restriction to limit your credentials from being used at a different location. This is invaluable to protect access to your account if your credentials are compromised and are being used elsewhere.
Should we store credit data in our system?
It is recommended that you do not store credit reports in your system to minimize liability in the event of a security breach. CreditAPI offers the ability to retrieve previously ordered credit reports using a unique reference number. This capability, in conjunction with the IP restriction feature, allows you to save storage space and minimize damages if your servers were compromised or stolen.
Does CreditAPI support credit card payments?
Yes. We recommend that such a feature be handled by the system that is ordering the credit report. If that is not possible, CreditAPI can be set up to process the credit card that is attached to the credit order request. This is a useful feature if you want to pass the costs of the credit report to the end-user.
How flexible is CreditAPI in terms of configuring the look and feel of the credit report?
End-users can fully customize and generate their own credit report based on the XML data provided. As a more practical alternative, CreditAPI provides over 30 predefined customizable templates that could be used to structure the order and grouping of data that are shown on the credit reports.
Are there fraud detection products that can be ordered along with the credit report?
Yes. Each bureau has its own add-on product that can monitor orders for discrepancies with the inputted data. For example, SSNs are checked to make sure they do not belong to a deceased person and that the inputted SSN matches with information the bureaus have in their database.
Are credit scores accessible via CreditAPI?
Yes, a wide selection of scores can be ordered from the bureaus. Use of credit score information may be limited by the credit bureaus.
Credit Reporting Services also offers COMPLIANCE AS A SERVICE™ and UNDERWRITING AS A SERVICE™