1. What is Metro 2 Format?
2. Do I need to be become a member in order to report to the credit bureaus?
3. How do I report consumer credit?
4. How can I purchase M2 Reporter?
5. What should I be looking for in a Metro 2 credit reporting program?
6. Is M2 Reporter easy to install and use?
7. We do not meet the minimum number of accounts to report to the credit bureaus. What are our options?
8. Can I import my accounts from another file into M2 Reporter?
9. Does M2 Reporter support all reporting codes and segments?
10. Is M2 Reporter approved by all credit bureaus?
11. Can M2 Reporter convert my Metro 1 formatted file to Metro 2?
12. How much does M2 Reporter cost?
13. Does your company require per transaction, renewal or annual leasing fees?
14. How much is tech support?
15. What type of support can I expect from your company?
16. When and why do you update M2 Reporter?
17. What about additional user licenses or replacement software?

Question: What is the Metro 2 Format?

Answer: The Metro 2 Format was developed as a standard for the credit reporting industry and accomplishes the following:

• Provides one standard computer layout to be used for reporting accurate, complete and timely consumer credit information.
• Meets all requirements of the FCRA, the FCBA and the ECOA.
• Allows for reporting information at both the account and consumer levels.
• Allows for reporting the full four-digit year.
• The Metro 2 Format replaces the outdated Metro Format.

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Question: Do I need to be become a member in order to report to the credit bureaus?

Answer: Yes. All credit bureaus require a Data Furnisher's or Service Agreement for credit reporting. This agreement is separate from your agreement for pulling credit reports.

Question: How do I report consumer and/or commercial credit?

Answer:

• Contact each credit bureau that you wish to report to; Equifax, Experian, Innovis or TransUnion, and establish a Data Furnishers or Service Agreement with them. This is separate from your agreement for pulling credit reports.
• Each credit bureau has a set of minimum credit reporting requirements established. Make sure you understand these minimum requirements and meet them. You will need to contact the credit bureau you will be reporting to for a list of these requirements.
• Once you have you have completed the previous two steps you are ready to purchase M2 Reporter, which will report your consumer and commercial accounts using the metro 2 format.
• Once you receive M2 Reporter you will install it on your PC and begin entering your accounts by manual data entry or importing from an existing database.
• The software will perform validity checks on the accounts to ensure the information which you have entered is compliant with the latest regulations related to the Fair Credit Reporting Act (FCRA), the Fair Credit Billing Act (FCBA) the Equal Credit Opportunity Act (ECOA), the Fair Debt Collections Practice Act (FDCPA) and the metro 2 format specifications set by Consumer Data Industry Association (CDIA).
• Create your metro 2 file within M2 Reporter and send the file to the credit bureau you have a metro 2 credit reporting agreement with. Once the credit bureau has received your accounts they will verify the data is accurate. They may also request additional information from your company and may have you manually verify the data that was submitted. Because of the time involved in the verification process the first metro 2 file may not be posted for several weeks. Once the bureau has approved your file they will typically update the accounts within thirty days. This process will vary between bureaus. Please contact your sales representative at the bureau you are reporting to concerning these policies.
• Update your existing accounts and enter new accounts for credit reporting on a monthly basis. Please note: Monthly credit reporting is required by all credit reporting agencies. If you do not report on a monthly basis your credit reporting agreement may be terminated by the credit bureau and your accounts purged from their databases. Please check with you sales representative concerning this policy.

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Question: How much does M2 Reporter cost?

Answer: Purchase of a site license covers your first year of technical support and any updates that are released during the first year. For detailed information please go to our Products page.

• Standard Site License: $295
• Network Site License: $395
• Multi-Company Site License:
  
• Standard: $425
• Network: $525
  

Question: How can I purchase M2 Reporter?

Answer: Order online or to order by phone please call our sales staff at 1(800)942-0470 Monday through Friday 8 am - 5 pm Pacific Time. We accept MC, Visa, AMEX and Discover.

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Answer:

• The software should be fully tested, accepted and approved by the credit bureaus you will be reporting too. Each credit bureau should have a list of accepted vendors.
• Credit reporting software must be kept up-to-date with the latest reporting laws and regulations and the metro 2 format specifications. Make sure that your software account/agreement covers automatic updates.
• Full credit reporting capability to handle all credit bureau approved reporting scenarios, which your company may encounter.
• Credit reporting software must accurately report your companies accounts to the credit bureaus using the metro 2 format. Make sure the credit reporting software you are purchasing is using the current metro 2 format set by the Consumer Data Industry Association (CDIA).

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Question: Is M2 Reporter easy to install and use?

Answer: Yes. M2 Reporter is very easy to install. Just insert the CD and follow the install wizard, which takes just a few minutes. Once you have installed the credit reporting software you will be prompted to call for an authorization code. M2 Reporter is also very easy to use. If you are manually entering your data you will fill out a simple data entry screen for each account. The program has data verification checks to ensure that your data is accurate and comes with an extensive help manual that you can also access on-line. We also provide your first year of technical support for free and are available Monday through Friday from 8 am to 5 pm Pacific Time to answer your credit reporting questions and help you become familiar with the credit reporting process.

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Question: We do not meet the minimum number of accounts set by the credit bureaus for credit reporting. What are our options?

Answer: Each credit bureau has their own policy on metro 2 credit reporting minimums. Check with your credit bureau sales representative for details. You should report your entire portfolio with accounts aging up to 6.5 years each month. If you are still unable to meet their metro 2 credit reporting minimums using this method you will need to check with your credit bureau sales representative for alternative metro 2 credit reporting options.

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Question: Can I import my accounts from another file into M2 Reporter?

Answer: Yes. M2 Reporter has the capability of importing comma delimited text files or .csv excel file. M2 Reporter allows you to import all fields, setup default fields and map your data fields to the programs fields and metro 2 codes. If you can export your data but it is not in one of these two formats our technical support staff may be able to convert it for you. Please call technical support at 1(800)942-0470 if you need help with this process.

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Question: Does M2 Reporter support all reporting codes and segments?

Answer: Yes. M2 Reporter supports all metro 2 credit reporting scenarios set by the Consumer Data Industry Association (CDIA).

Question: Is M2 Reporter approved by all credit bureaus?

Answer: Yes. M2 Reporter was tested and approved by all major credit bureaus prior to it's release.

Question: Can M2 Reporter convert my Metro 1 formatted file to Metro 2?

Answer: You cannot import your Metro 1 file directly into M2 Reporter. However you can send your Metro 1 file to our technical support department and our support technicians will convert your metro 1 file into a file that M2 Reporter can import. For details please contact our Technical Support Department at:

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Question: Does your company require per transaction, renewal or annual leasing fees?

Answer: No. While other metro 2 credit reporting software companies frequently charge annual or monthly fees for using their software, M2 Reporter keeps it simple and affordable. Once you buy the program, that is it. No additional reporting fees.

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Question: How much is technical support?

Answer: Technical support is free and unlimited for the first year. The annual renewal fee is only $65.00 for the standard license or $75.00 for the network license. This is an optional fee that covers one year of unlimited technical support. This fee also covers any updates that are released during your renewal period which are sent to you automatically.

Question: What type of support can I expect from your company?

Answer: Your first year of technical support is included with the purchase of M2 Reporter. There is no limit to the number of technical support incidences and there are no additional support fees during the first year. After the first year there is a $60 fee to keep your account current. This fee covers the yearly technical support and program updates for a specific site license.

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Question: When and why do you update M2 Reporter?

Answer: We will update M2 Reporter any time the industry standard changes. We will consider updating the program due to customer demand. If there is a high demand for a specific user tool, which does not conflict with the industry standard, we will seriously consider making the change. We are always looking for ways to improve our software and encourage customer feed back. All current accounts will receive program updates automatically at no additional charge.

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Question: What about additional user licenses or replacement software?

Answer: You can purchase additional user licenses, upgrade to a network license and purchase replacement disks.

• Additional User License (same site): $75
• Network Upgrade: $150.00
• Replacement Disks: $75.00 (your account must be current to receive replacement disks. With a current account you can also download the program to install at no additional charge).

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