PRBC – Payment Reporting Builds Credit. We started this idea back in 2005 and are the largest non-traditional Credit Bureau in the World.
To begin with PRBC is free. You can sign up free, use the tools for free and see your score for free. Some competitors like to say they are free but in reality they wait until you've created an account and then charge you to verify your bills or provide you a report.
Convenience is the other big reason people love PRBC. We verify your bills electronically so you don't need to update your information each month. And PRBC lets you manage and organize your bills and accounts - including your finances, utilities, rent/mortgage, insurance, travel rewards, subscriptions and more - in one place, while also giving you a reliable alternative credit score.
No, PRBC is a registered Credit Reporting Agency just like those companies but uses “non-traditional information” (utility, mobile phone, and other bills) to build your score. PRBC does not affect the reports of these other companies.
PRBC is the world's largest provider of non-traditional data to the credit market.
MicroBilt is the parent company of PRBC. As a leading single source provider of decision-making information MicroBilt assists businesses in reducing and managing risk. MicroBilt provides online access to consumer and commercial credit bureau data, automated decisioning and collection services, as well as industry benchmark data and risk management tools. MicroBilt has over 30 years of experience in risk management for business and its leading edge technology forms the backbone of the PRBC service offering.
The PRBC Alternative Credit Score is similar to a traditional credit score. It uses the same numbering system, with roughly the same meaning as a traditional score.
The range of possible scores extends from 100 to 850, although the key portion of that scale lies between 600 and 750. Any score over 750 will be considered extremely reliable, and any score under 600 is likely to be denied credit by an institution that requires a credit check. Most scores fall between 600 and 750.
The higher the score, the more likely you are to be approved for a loan, and the lower your interest rate is likely to be for that loan.
PRBC is the oldest and largest provider of alternative credit scores. No one else can offer an alternative credit score more reliable than the PRBC score. More importantly, creating a credit score with PRBC is, and always will be, free. (Stay away from anyone asking you to pay in order to create a score!)
PRBC uses credit lines, or “accounts”, to calculate your score. The more accounts and information you provide, the more accurate your score. Accounts include things like banks accounts, credit cards, utility bills (heat, electricity, etc.) mobile phones, insurance policies, mortgages or leases in your name.
PRBC works with thousands of banks, utility companies, credit card companies, insurance companies, mortgage accounts and a whole lot more. And we are adding more every day. If you don't see your provider listed on PRBC, let us know.
If you are paying a particular bill on a regular basis, with any company, and we can verify and track - it then it can be counted towards your score.
PRBC gives you both a score and a report. The score is live on your dashboard and you can download a report anytime you want.
Being a PRBC member is completely free to you. When you apply for a loan or purchase using PRBC, the lender/merchant pays a fee to check on your score through us.
PRBC is, and always will be, completely free to consumers. We earn a small fee from our business partners who pay to look at your score when you apply for a loan or credit.
Yes, they are. Alternative Credit Scores capture the day to day reliability and financial habits of people. How someone handles their money in paying bills is considered a strong indication of how someone they will manage money loaned to them. The technology to monitor bill paying habits this didn't exist a few years ago but it does today. This is why alternative credit scores are finally becoming mainstream.
According to the Equal Credit Opportunity Act, if you present a business with proof of alternative payment history, they must consider it when making a decision on whether to give you credit. You cannot legally be told, “Sorry, we only take ‘regular' credit scores”.
It is, however, up to you to make your score reliable. The more accounts you register as part of your PRBC score, the more reliable your score will be. If you have more payment accounts verified with PRBC, businesses will get a better picture of your overall reliability when considering your score in their decision.
A person's credit is checked for many reasons including when they apply for a job, purchase or lease a car, set up a utility, apply for a credit card, purchase a cell phone, apply for an apartment lease or open a bank account.
You can get your PRBC Report as often as you want. And it will always be free to do so. Plus, unlike traditional reports that show only portions of all the data they have, a PRBC report shows everything you've entered into the PRBC system.
Customers have been approved for loans and purchases using PRBC at furniture stores, auto dealers, jewelry stores, banks, and other lenders. PRBC has also been used to get approved for apartment leases.
Contact Us and we will send you our reporting guidelines. Additional info can be found at PRBCMainStreet.com.
There are partners affiliated with PRBC that you can contact. There are many variables that determine your creditworthiness and each creditor has their own criteria for granting loans. Your success in getting a loan and the rate offered will depend on your credit worthiness and the creditor's individual criteria.
A PRBC score is live on your dashboard and you can get a report anytime you want. Just click the View your PRBC Credit Report link from your dashboard.
You can add any bills you have paid within the last 2 years (24 months) to your credit report. Using past bill payments is a good idea because it can help establish a positive credit history right away.
Unlike other alternative credit reporting agencies, PRBC account verifications are done instantly. Even better, they are completely free of charge and cost you nothing. After you add your information, you will see the changes happen immediately on your PRBC dashboard.
Even though rent, utility bills, cell phone bills, insurance and many other types of accounts do not get included in your traditional credit score, they can be used to help establish your credit. A law called the Equal Credit Opportunity Act (ECOA) required lenders to include these accounts in their assessment of your creditworthiness should you ask them to.
Taken together, these different bills can be used to establish an Alternative Credit Score.
Many people have what is called a “thin” or “no hit” credit file. That means that for whatever reason they do not have sufficient historical information with the traditional credit bureaus to get a score. Other people have negative credit information which has hurt their traditional score.
Alternative Credit Scores provide people in these categories with a means of demonstrating to lenders that they are indeed worthy of credit.
For many people, up to 80% of their monthly bill payments are never reported to the national credit reporting agencies. As a result their true payment history is never figured into their traditional credit score. Unlike a credit report from the three national credit bureaus where creditors report their customer’s credit information automatically, your PRBC Credit Report contains only the bill payment accounts you choose to have verified and included in your report.
No it does not. PRBC will not report your information to Equifax, TransUnion or Experian. The account history contained in your PRBC Credit Report will not affect your credit report with the traditional credit bureaus.
If you have little or no traditional credit, a PRBC Credit Report and can help you demonstrate to lenders that you have a proven history of on time payments for monthly financial obligations.
Your PRBC Credit Report might help to offset a negative credit history. It also provides a more complete picture of your financial habits. Using your PRBC Credit Report to show a more complete credit profile, helps lenders make more informed decisions about offering credit to you.
A PRBC Credit Report follows an industry standard format that lenders are familiar with. It can be accessed electronically for credit scoring or other purposes. You are entitled to use your PRBC Credit Report as a standalone report, or as a supplement to the bill payments contained in your Equifax, Experian, and TransUnion reports. By law, a creditor must consider your PRBC Credit Report on your request.
Fannie Mae, Freddie Mac and FHA readily recognize the importance of Alternative Credit information. Many Credit Unions also readily recognize Alternative Credit information. Other major financial institutions and service providers weigh Alternative Credit information in their lending process. It is important to know that by law [ECOA Section 202.6(b)(6)], and upon your request, all lenders must take the information contained in your PRBC Credit Report into account when considering whether they want to offer you credit.
A traditional credit score is calculated only on credit information reported to the national credit bureaus by an individual’s creditors. Your PRBC Credit Score is calculated on current verified bill payment information, contained in your PRBC Credit Report. This information is not reported to the national credit bureaus.
Traditional credit scores are primarily a measure of debt and how responsibly that debt is paid. An Alternative Credit Score is not a measure of debt but instead of how responsible you are meeting month living expenses. Because the Alternative Credit Score does not consider debt, having higher payments for accounts such as rent and utilities will not have a negative effect on your rating.
PRBC is powered and protected by MicroBilt and their 35 years of experience in the data industry. Data protection at PRBC is up to the standards of the largest banks in the country. All data is encrypted using 256-bit encryption and all communication happens through a Secure Socket Layer (SSL). In addition, our databases comply with the PCI standard - the highest security standard in the industry. To learn more, see our page detailing security provisions.
To keep your account safe, never share your password or write it down. Make sure your password is unique and hard to guess and that it includes numbers and special characters. PRBC also recommends that you use antivirus software on your computer to keep it safe from hackers. Additionally, avoid logging into your PRBC account from Public Computers and if you do, make sure you log out completely before leaving.
There is no reason to put a security Freeze on your PRBC account. Unlike other credit bureaus, with PRBC you can always see what is on your report.