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LexisNexis credit tiers setup

Credit tiers determine how credit scores in specific ranges should be reported.

In BriteCore, you can:

  • Define credit tiers by effective date, state, and policy type.
  • Replace credit scores with labels, such as Poor or Excellent.
  • Restrict credit tiers.

Examples:

  • For a homeowner’s product, you can:
    • Accept a credit score above 620.
    • Set the restriction for the 0–619 credit tier to Disallow.
    • Set the restriction for the 620–1000 credit tier to None.
  • For a renter’s product, you can:
    • Accept a credit score above 660.
    • Set the restriction for the 0–659 credit tier to Disallow.
    • Set the restriction for the 660–1000 credit tier to None.

Set up LexisNexis credit tiers

  1. In the BriteCore menu, select Settings.
  2. In the Settings menu, select Vendors.
  3. On the Vendors screen, under Risk Assessment, select Lexis Nexis Credit Scoring.
  4. Next to Lexis Nexis Credit Scoring, select the edit icon Edit icon.
  5. In the Lexis Nexis Credit Scoring dialog box, add the following information:
    1. In the Client Id box, type the appropriate client ID.
    2. In the PNC Account Number box, type your PNC account number.
    3. In the Carrier Id box, type the appropriate carrier ID.
    4. In the Carrier Account Number box, type the appropriate carrier account number.
    5. In the Multiple Credit Scores dropdown list, select one of the following:
      • Use Lowest
      • Use Highest
      • Use Average
    6. In the Default Credit Score box, type the default credit score.
    7. To set up credit scores for a specific effective date or all effective dates, in the Filter and set credit tiers by Effective Date, Business Location and Policy Type dropdown list, select Default.
    8. Build a tier table. See Build a tier table below.
    9. Select Done.
  6. At the bottom of the screen, select Save.

Build a tier table

  1. In the Lexis Nexis Credit Scoring dialog box, next to Build Tier Label, select the green plus icon Add icon.
  2. In the tier table, complete the following steps:

    Note: To add additional credit tiers, next to Build Tier Label, select the green plus icon Add icon.

    1. In the Low and High columns for each credit tier, type one of the following values:
      1. Type the specific credit score values.
      2. Type No Hit to indicate the applicant has no credit history.
      3. Type None to indicate there is missing information or misinformation regarding the requested applicant.

        Note: To accommodate all possible responses from LexisNexis, you can also set a credit tier for No Hit and None. These keywords are case-sensitive and must be typed in both the Low and High columns for the appropriate credit tier.

    2. In the Label column, type a label for each credit tier.
    3. In the Restriction column, select one of the following for each credit tier:
      • None
      • Submit Unbound
      • Disallow
    4. Select Done.
  3. At the top or bottom of the screen, select Save.

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