Innovis - Should we worry?

[moneytrouble]

If you go to the link below, and look at the list of credit cards for bad credit, some say this, well specifically ones issued by First Premier,
"Reports monthly to 4 major Credit Bureaus".
I know others brought this up on here, but there is no definitive answer if we should worry about them. When did companies start using them for credit reports? When does this stop? Will there be 5 come next year? I looked at all of my credit reports, and each one looks almost completely different. Some creditors are on one but not the other and on this one but not that one, or one is reporting closed, another reports Open, another bankrupt.

http://www.bankrate.com/funnel/credit-cards/credit-card-results.aspx?classificationuid=18&childcategoryid=999&childcategory=Bad%20Credit&classtypeuid=2&classtypedesc=Credit%20Type&ec_id=&af=&ac=

[jennordhavn]

I have heard of Innovis but of all the times I have applied for credit, none have pulled Innovis. For now, I'm focusing on TU, EX and EQ but if I get any credit that pulls Innovis I may take a look at that report too.

[moneytrouble]

I have heard of Innovis but of all the times I have applied for credit, none have pulled Innovis. For now, I'm focusing on TU, EX and EQ but if I get any credit that pulls Innovis I may take a look at that report too.

A couple of people on this forum mentioned that some creditors did pull Innovis and it brought their score way down.

[StartingOver08]

Also we might start seeing more changes because Experian no longer has a contract with FICO to provide consumers their score (see below). This will effect us as consumers, because historically the lenders used the middle score (for mortgage approvals). Now there are only two CRA's reporting the scores, so how can there be a middle score? The link has more info. Experian says they have their own scoring system, LOL!

On Jan. 15, Experian, one of the three major credit reporting agencies, notified Fair Isaac that it was ending its contract with myFICO.com. Effective Feb. 14, consumers can no longer purchase their Experian FICO credit scores and reports through myFICO.com

http://www.bankrate.com/brm/story_content.asp?story_uid=27441&prodtype=cc