Each credit reporting agency uses a different formula to determine your score. Your Experian score might not be the same as your TransUnion score, even if they’re all working with the same information. If you’re applying for a loan, you can expect the lender to check your credit with the three major credit reporting bureaus. Depending on what kind of loan you’re getting, the lender might also run a credit check with a company called SageStream. Consumers with good credit scores from the three major credit bureaus often get denied for vague reasons when creditors use SageStream.
- ID Analytics, the leader in on-demand identity intelligence, protects both organizations and consumers by providing unprecedented visibility into fraud risk and credit potential.
- Consumers with good credit scores from the three major credit bureaus often get denied for vague reasons when creditors use SageStream.
- ID Analytics uses what it calls “convolutional neural nets,” a flavor of deep learning, in its fraud and credit scores, Coggeshall said.
- I could not find a single person on any website, that was not linked to Sagestream, that had anything good to say about them.
- I am not even sure it is worth pulling, other than just to check for accurate information.
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However, we have started to see an increase in use, specifically with Synchrony as well as an increase of other models like Sagestream’s Credit Optics. I wouldn’t be surprised if Comenity also used them as the recent knee-jerk reaction closures could be related to plunging VantageScores. We won’t know though unless people decide to see if there’s a correlation. If you read the article I posted, it says that they use “nontraditional” means.
Re: My SageStream Credit Optics score is awful, hows yours?
So after an hour of basically going around and around pissing her off I concluded my score is low because I did not have ENOUGH inquiries with them (just 1 from Discover) BUT if I add some it will lower my score?!?!?!?!???? So raising it is literally impossible, they are a pure scam used to raise interest rates on honest borrowers. Personally, I have some incorrect information on my Sagestream reports and attempted to correct them. They never responded; life got busy, and I haven’t gone back to correct. It’s important too to know that you can opt-out of SageStream. However, it’s important to know what opting out with SageStream will accomplish.
“By combining traditional and alternative data with our patented credit analytics, Credit Optics delivers a more accurate assessment of credit risk than traditional credit scores alone,” said Patrick Reemts, director of Credit Risk Solutions at ID Analytics. See what information about you is maintained in our files by requesting a Consumer Disclosure Report. The report includes items such as real estate transaction and ownership data, lien, judgment, and bankruptcy records, professional license information, and historical addresses. Applying a security freeze prohibits LexisNexis Risk Solutions and SageStream from releasing your LexisNexis Consumer Disclosure Report, your SageStream Consumer Report, or your credit score without your express authorization. The security freeze is designed to prevent credit, loans, and services from being approved in your name without your consent. However, a security freeze does not apply to companies, or collection agencies acting on behalf of such companies, with which you have an existing account that requests information in your consumer report for the purposes of reviewing or collecting the account.
“Distance between address and area code of phone.” I live in the geographic area assigned to my area code. Many or all of the products featured here are from our partners who compensate us. This influences which products we write about and where and how the product appears on a page. Yes, SageStream is a legitimate company that is regulated by the federal government. As with any consumer reporting agency, SageStream is subject to the Fair Credit Reporting Act.
Sure alot of people have cleaned up their Lexis Nexus report although they pull from all kinds of sources and DB’s and their information alot of time is as good as the data source they pull from and likely to have repeat process of cleaning up report every few years. I dislike LN and known people that have worked for them and they admit is is a mess sadly enough. In this article, I’ll explain what SageStream is, how your SageStream score might be used, and what you can do to protect yourself from being denied credit because of it.
Is SageStream a Legitimate Company?
About ID Analytics, Inc.ID Analytics is a leader in consumer risk management with patented analytics, proven expertise, and real-time insight into consumer behavior. By combining proprietary data from the ID Network®—one of the nation’s largest networks of cross-industry consumer behavioral data—with advanced science, ID Analytics provides in-depth visibility into identity risk and creditworthiness. Every day, many of the largest U.S. companies and critical government agencies rely on ID Analytics to make risk-based decisions that enhance revenue, reduce fraud, drive cost savings, and protect consumers.
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At the same time if I was declined for a credit product from a bank, it isn’t something I am going to sweat too much, if they don’t want me because of some arbituary scroing, I don’t need their products. I used to think FICO was complicated, but at least it makes sense. Too many inquiries in a short period of time can lower your score. You don’t need inquiries to raise your score, you need reporting accounts showing positive payment history. You need accounts that are not showing late payments on them.
Re: ok spent an hour on the phone with a Sagestream supervisor.. results
- Inquiries were listed, I had three, US Bank (15 months ago) , Disco ( 3 years ago), and something for prepaid phone service from more than three years ago.
- SageStream has made it next to impossible to get a live representative on the phone.
- The three bureaus are also not the only reporting agencies out there – all of which are under the purview of the Fair Credit Reporting Act.
The use of AI offers lenders the ability to get a precise look into someone’s creditworthiness and score those previously deemed unscorable. LexisNexis Risk Solutions offers security freezes–and lifts security freezes–free of charge. Last reason was “too many subprime inquiries” which I really do not understand. I’m assuming they are talking about that single inquiry for prepaid phone. Sorry — just had to get that off my chest — there are sooooo many of these niche “Credit reporting agencies” now that it is impossible to keep up with all of them and know who is using what.
But it’s important to note that lenders or credit card companies can request that you remove a freeze when applying for credit. If they can’t see your report, they may not extend the credit. Another challenge to using artificial intelligence, sagestream credit optics score specifically neural networks, in credit scores and models, is that it’s harder to provide the needed “reason code” to borrowers — the explanation of why they were denied credit. The ID Network includes data from over one billion consumer transactions and more than two million confirmed identity frauds.
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It also seems like the report is missing some critical details, such as auto and mortgage loans, and several paid-in-full loans from 2018 and 2017, as well as a half-paid line of retail credit. Try 150+ pages 🤦🏽♂️ Nothing to dispute really, unless I wanted to spend the time disputing out dated information over 10+ years old. FYI – I recently requested a copy of my SageStream CR and they sent it (which only included data from Ally Financial and NSTN, whoever that is) and also included a copy of my Innovis CR. I called and asked if Innovis had been acquired by SageStream or vice versa and the explanation I got was “we use their data, otherwise we are unaffiliated with them.” You can freeze both Sagestream and ARS but keep in mind sometimes freezing these 3rd parties can restrict/prevent you from getting a loan approved.
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Consumers that typically have good credit scores may find their SageStream credit score lower. Some lenders may use SageStream’s credit reports to make decisions about your creditworthiness, but it’s not as common as the three major credit bureaus. SageStream’s database for scoring is not as complete because very few lenders report their customers’ credit history to SageStream, making it difficult to calculate a score. StellarFi is a credit building tool that works by reporting your regular monthly bills to two major credit bureaus. This saves you from having to borrow money or pay a security deposit to build credit. While those sagestream credit optics score two may be the most notable, they’re not the only credit scores.
I had a bad experience with my credit 15 years ago when I was 18yo and never used it again. Years of having a good job and good income, I just paid cash for anything I needed. I started out a few months back with a secured credit card so I was pushing my luck on even getting approved. (4.35% I might add which I feel pretty good about with good credit numbers but only a few months history) I bought a $21,000 truck and paid $10,000 cash down is about the only reason I got approved. Could easily pay the truck off by the end of the year but trying to build credit in case I need it one day. I guess I am still a newbie in this world, this is the first I am hearing of SageStream.
You need a decent mix of accounts–revolving, installment, etc. Other factors are age of your credit, debt to income ratio, and so on. SageStream is a consumer reporting agency that is part of LexisNexis® Risk Solutions and provides consumer reports and scores regulated by the Fair Credit Reporting Act (FCRA). Technologies like Hadoop, which allow massive amounts of data to be stored and analyzed quickly, are making AI-based credit scores possible, said Peter Maynard, senior vice president of global analytics at Equifax. A consumer has the right, pursuant to state law, to request a security freeze be placed on certain LexisNexis Risk Solutions reports, and for LexisNexis Risk Solutions to not release those reports without the consumer lifting the security freeze. When this occurs, a customer that inquires on the consumer receives only a notification that the consumer has placed a security freeze on their file.