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.