All Topics / The Treasure Chest / Credit Checks

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  • Profile photo of StephenArrowsmithStephenArrowsmith
    Join Date: 2002
    Post Count: 3

    Hi All
    We are very close to approving a couple of WRAP Customers and decided to attempt a Credit Reference check but the costs to do this are quite high .
    Credit Advantage is now named Baycorp Advantage and the costs are
    1. A joining fee $795.00
    2. A yearly Sub $275.00
    3. A fee per report $4.51

    The cost per report is OK but the joining fee seems a lot especially as I am unsure how usable the information would be for me .
    I would like to know if this is of any value before subcribing .
    Can anyone advise me if they had joined Baycorp Advantage and used the Credit Checking for individuals they want to WRAP to and if so how valuable is the information they recieved ?

    Profile photo of montomonto
    Join Date: 2002
    Post Count: 8

    It’s free to request your personal credit check if you don’t mind waiting for 10 days, or you can pay $19.95 to get a express check. My understanding is that you can get your client to pay 19.95 to request a copy and have Baycorp fax it to you.
    Not that I’ve done it, only read about the theory, would be interested to know if this is the right (legal) way to do it.
    On the baycorp website, it mentioned about $30000 penalty on offense of obtaining someone else’s credit file though. Just be careful it’s done the right way.

    Profile photo of EKfourEKfour
    Join Date: 2002
    Post Count: 35

    I wrote (snail mail) to them just over two weeks ago, still waiting for the report to arrive in the mail. Just get your clients to give you their reports- maybe insist them do it online or something?

    Profile photo of FWFW
    Join Date: 2002
    Post Count: 478

    I did mine snail mail a month or two ago, got it in around 3 weeks.
    One thing you must watch VERY carefully with this, particularly since the changes to the privacy act. If a client obtains their own credit report, you are NOT ALLOWED to view it or retain a copy of it. Otherwise you are breaking Baycorp Advantage’s copyright. They retain copyright, even though the client gets the report.
    Now, I suppose nobody can stop the client waving it under your nose and you happening to see the details on there, but you certainly wouldn’t want to have a copy kept on file if anyone ever comes looking.
    Just something to be aware of.

    Keep smiling
    Felicity 8-)

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