Who Is SageStream & Why Is My Score Low?

A recent client asked “A couple of days ago, I received 2 decline letters from Ally Financial stating that they denied me (for the car loan) based on TU score of 668, and SageStream score of 483. My question is who the heck is SageStream? And why is their score so much lower than TU? I am trying really hard to rebuild my credit and now I have another CRA to worry about? Any help or words of wisdom would be appreciated!”

Thank you for your question! Sage Stream is another hidden bureau that is in business for no other reason than to sell your data. Another “hidden bureau ” is ARS a subsidiary of Visa. Just like SageStream, they have no incentives to verify that your information is correct. In other words, they are making tons of cash from us, we the people by buying and selling data.

Financial services companies, employers, landlords, etc., often consider information from these sources when evaluating applicants. After all, the more data that banks and other consumer-facing companies have, the more accurate their analytics and underwriting practices will supposedly be. This is often WRONG.  The more pop up, fly by night data reporting agencies available. the more likely erroneous information will harm your chances for an approved loan or credit card.

For a full list of Hidden Data companies: https://s3.amazonaws.com/files.consumerfinance.gov/f/documents/cfpb_consumer-reporting-companies-list.pdf

At Ascension, we believe the most effective means of dealing with these “alternate reporting agencies” is to implement a SECURITY FREEZE.
Basically a security freeze limits the creditor from pulling erroneous information and requires them UNDER the FCRA to ONLY pull from Equifax, Transunion, or Experian.

FOR A FULL EXPLANATION of FREEZING these 2 HIDDEN BUREAUS
https://www.sagestreamllc.com/security-freeze/
https://www.ars-consumeroffice.com/securityfreeze.faces