What is PRBC?
PRBC (Payment Reporting Builds Credit) is a Consumer Reporting Agency and Credit Bureau. PRBC collects, stores, scores and reports bill payment data for permissible purposes under the Fair Credit Reporting Act and Safe Harbor Framework. It is the first credit bureau to give businesses and consumers a way to build a credit file to demonstrate creditworthiness without the need to go into debt.
How long has PRBC business?
PRBC s parent company has been in business for over 35 years, an industry leader in risk management information since 1978. In addition to its PRBC Reports they are certified through and provide interfaces with credit bureaus.
Don t the traditional credit bureaus collect bill payments already?
No. traditional credit bureaus do not automatically collect on-time payments for many bills paid each month. Payments for the following bills will only be reported to the traditional credit bureaus if your payments are late or in default:
- Natural Gas
- Cell phone
Does PRBC report payments to traditional credit bureaus, or offer a credit repair service?
No. PRBC does not report to other bureaus and does not offer a credit repair service or fix information contained in your credit files at other bureaus. PRBC is a credit bureau, similar to the traditional bureaus.
However, credit reports and scores from the traditional bureaus do not include on-time commonly recurring bill payments such as rent, insurance, cable, phone, remittances, day care, child support, and utilities.
What does PRBC charge for reporting?
PRBC does not charge landlords, billers or lenders to report on a consumers behalf. PRBC offers credit reports for a fee (like the traditional credit bureaus) to lenders upon consent and charges fees for certain payment history verifications.
How it Works
How does a consumer build a PRBC credit file automatically?
When a consumer signs up for a free PRBC account they enter their bills payments which are then reported to PRBC automatically. By paying bills on time, the consumer builds a positive credit file with PRBC that can be use to qualify for better rates.
The consumer is paying their bills through the bank online for free - why use your service?
If the bank s bill pay service is not currently reporting payment information to PRBC, then many of the bills paid online are not helping a consumer build credit.
Building a positive PRBC credit file demonstrate creditworthiness and fiscal responsibility. A PRBC Report can save a consumer hundreds of dollars on a loan.
What does PRBC do to protect personal information?
PRBC is a consumer reporting agency (CRA) and therefore must comply with the Fair Credit Reporting Act and Safe Harbor Framework, as well as local laws that make sure non-public personal information is properly protected.
PRBC has made significant investments to protect personal information from theft and unauthorized use. Security of personal information is the single most important consideration in the design of the PRBC service. PRBC has deployed the latest security technology and stores personal information in ultra-secure data centers.
Will information be shared with other companies or sold to mailing lists?
PRBC feels strongly about protecting privacy and will never give or sell information to mailing lists or marketing firms. A consumer that signs up for a free PRBC account will provide payment information that will be included in a PRBC Report available to lenders. In order to verify this information, PRBC conducts payment verifications by obtaining permission to contact biller (utility, phone company, landlord, etc.). All payment verifications are conducted confidentially Verification partners are prohibited from using personally identifiable information for any other purpose including their own marketing.
Applying for a Loan
How will my PRBC credit file help a consumer?
Depending on the rest of the consumers credit history, an electronic record of consecutive on-time payments will help a consumers PRBC score and qualify them for a loan and/or obtain a lower interest rate. The longer a consumer can show they ve paid bills on time, the better. If the consumer has no credit history they can enter their alternative payment accounts that will be monitored and the consumer will be provided with a PRBC score.