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FCRA Information

CREDIT REPORT DISCLOSURE
 
TrueCost is a service provided to you, the consumer, by CenterPoint Energy Services, Inc. (“CenterPoint”).  With TrueCost, you can currently compare offers from Retail Electric Providers (“REPs”) for energy services.  However, in the future, we may have the capability to deliver REPs’ offers for which you qualify. To do so, CenterPoint must obtain your credit report(s) from a credit reporting agency, which will be identified at the time of implementation.  
 
CenterPoint compares the information contained in your credit report(s) against the credit criteria provided to CenterPoint from the REPs.  Through this comparison, CenterPoint can determine the REPs’ offers for energy services for which you qualify.  CenterPoint then provides these offers to you on the REPs’ behalf.  As both CenterPoint and the REPs are joint users involved in the decision to extend offers for energy services to you, CenterPoint will share the information contained in your credit report(s) with the REPs.  
 
Your credit report includes the following information: 
  1. Personal information. Compiled from credit applications you've filled out, this information normally includes your name, current and recent addresses, Social Security number, date of birth, and current and previous employers.
  2. Credit history. The bulk of your credit report consists of details about credit accounts that were opened in your name or that list you as an authorized user (such as a spouse's credit card). Account details, which are supplied by creditors with which you have an account, include the date the account was opened, the credit limit or amount of the loan, the payment terms, the balance, and a history that shows whether or not you've paid the account on time.  Closed or inactive accounts, depending on the manner in which they were paid, stay on your report for 7 to 11 years from the date of their last activity.
  3. Credit Report Inquiries. Credit reporting agencies record an inquiry whenever your credit report is shown to another party, such as a lender, service provider, landlord, or insurer.  Inquiries remain on your credit report for up to two (2) years.
  4. Public records. Matters of public record obtained from government sources such as courts of law – including liens, bankruptcies, and overdue child support – may appear on your credit report.  Most public record information stays on your credit report for seven (7) years.
  5. Credit Score. Your credit score is a mathematical model designed to predict credit risk, based on data contained within your credit file.  Lenders typically review this type of information to determine whether to extend credit, and on what terms.  A higher score usually means you pose a lower risk to lenders.  A number of factors can affect your credit score, including:
  • Payment history
  • Public records
  • The length of your credit history
  • Any new accounts you may have opened
  • Inquiries into your credit file
  • How many accounts you have in use
CenterPoint will only obtain your credit report(s) pursuant to your written authorization.  
 
With this Disclosure you are being provided a copy of a “Summary of Your Rights Under the Fair Credit Reporting Act” as issued by the Federal Trade Commission.  For more information about the federal Fair Credit Reporting Act, please visit http://www.ftc.gov/credit