Difference between revisions of "Accounting Finance:Equifax and Trade Reference Checks"
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| Line 12: | Line 12: | ||
*Shareholders – all checks are required (consumer, business, bank, and trade references) |
*Shareholders – all checks are required (consumer, business, bank, and trade references) |
||
| − | *Customer/Associate Member: |
+ | *Customer/Associate Member: → |
| − | **Equifax score (0-20) |
+ | **'''Equifax score (0-20)''' → only consumer and business credit reports are required |
| − | **Equifax score (21-30) |
+ | **'''Equifax score (21-30)''' → all checks are required |
| − | **Equifax score (>31) |
+ | **'''Equifax score (>31)''' → applicant rejected unless approved by management |
| − | **No Equifax report |
+ | **'''No Equifax report''' → bank and references checks are required) |
| − | *GA & GSA |
+ | *GA & GSA → all accounts ''less than'' 1 year in business are required to submit a GA & GSA. This is required before we set up and generate a customer number) |
Revision as of 12:30, 10 April 2017
Overview
This article will show step-by-step procedures on how to:
- Print a consumer credit report
- Print a business credit report
- Request a single item report
- Request a full investigative report
- Request a trade reference check
Turn around period & Check Requirements
- No account should be set up without prior approval by management
- All credit checks should be completed with 2 business days (48 hours)
- Shareholders – all checks are required (consumer, business, bank, and trade references)
- Customer/Associate Member: →
- Equifax score (0-20) → only consumer and business credit reports are required
- Equifax score (21-30) → all checks are required
- Equifax score (>31) → applicant rejected unless approved by management
- No Equifax report → bank and references checks are required)
- GA & GSA → all accounts less than 1 year in business are required to submit a GA & GSA. This is required before we set up and generate a customer number)