We are sometimes asked to “rate” customers on credit inquiries received from other potential creditors. How should we respond?

Answer: We recommend that you not respond to this question. You are not a credit reporting agency, so you have no reason to “rate” customers. If you did rate, you would be on thin ice because any such rating is highly subjective. Even if the third party asking for the rating provided detailed instructions or definitions about what constitutes excellent, superior, good, fair, poor or unacceptable ratings, you would be well advised not to provide this information since the information remains subjective.