Whether you’re looking to provide credit scores for potential lenders or to individuals looking to get their finances in order, getting the right information is important. And getting it easily is just as important. But making sure that it’s easily accessible and regularly updated is important too. APIs offer the best way to connect customers directly with the information they need, and CSR has put together a very impressive API for channeling that flood of consumer information into more tightly manageable and actionable channels of data. Here are five fast facts about their credit score API.
The Requirements Are Pretty Low
Obviously, not everyone should be able to access the personal credit information of strangers, but CRS makes sure that all the proper credentials are in place without making you jump through a bunch of hoops. If you have the approval to pull information from the big credit bureaus, then you can qualify to use the API. All you have to do is call a representative to provide them with the information about your business, and they’ll walk you through the approval process and make sure that you have an access key to start integrating the API into your software or web portal.
It Draws From All Three Big Agencies
Getting a credit check from a single agency is rarely ever going to be enough. That’s because each agency has its own network of connections and set of procedures, so there’s often some variances from one to the other. And they don’t typically share that information with each other. While these distinctions are usually modest, they can sometimes conceal or reveal some major red flags in someone’s credit history. Fortunately, the CreditAPI draws from all three major agencies: Experian, TransUnion, and Equifax.
It Reveals Both Credit Scores and Credit Reports
While the notion of both credit scores and credit ratings are often conflated, they’re actually two different things. A credit report is simply a comprehensive list of a person’s entire financial history. While new changes are added and old ones fall off usually after five to seven years, the report itself is neutral. The credit score is the number that calculates all of the information available and determines a score based on that information. CreditAPI offers you both, and that means that you’ll receive both a snapshot and a detailed archive of potential loanees. It’s a natural choice for anyone who likes to be meticulous with their applicant screenings.
You Should Be Onboard Within a Week
You can have many APIs up and running on your system the same day, but the nature of the CreditAPI necessitates a few more bureaucratic necessities. That said, their turnaround is surprisingly quick. The average user can get approved to use the API and receive their access codes within five to seven days, but it can vary depending on your credentials. And if you’re looking to get it hooked up to your local infrastructure, an experienced developer can integrate the API in as little as an afternoon.
The Response Time is Phenomenal
Clients who get the best results from CreditAPI are ones who have to batch process a lot of credit reports in a short amount of time. That’s because the recovery speeds here are phenomenal. CreditAPI can draw a report from a single agency in three seconds and pull a credit report for all three bureaus in just 11. Combine that with a variety of customizable templates, and you have a credit score API that’s custom made for businesses that need to process a whole lot of reports but simple enough to use for businesses that only have more occasional demand.