Over the last month I paid down my CC debt from $5000 to $1500. I'v ebeen checking creditexpert to see how far my score would rise and today it fell. Reason being that my cap one still shows $1600 balance even though I BT'd it to my GM card. And it looks like my GM card is showing a higher balance and isn't taking into account the $4500 in payments that I paid in the last 3 weeks. Once my last GM payment posts next week can I call cap one and GM and ask them to update the CRA's info right away? OR is the best I'm going to get is going to be a letter showing my current balance?
I tried that last month with Capital One. They would not update. They said they only update one a month. I tried disputing with the CRA but it verified my prior month's balance. I don't know if you can send the letter to the CRA and ask them to update will work. It's worth a try.
I have called up my creditors several times to get them to update.....NOW. With CapOne......I called Mr. Eugene Cook and explained I was applying for a home loan and really would appreciate if they could send my updated balances to the CRA's....was updated within a week. As far as GMAC, I haven't asked with them, but I have with other car companies, Nissan and VW. I just did it with Nissan last week because the stopped updating on my EXP account a few months ago, it was updated in two days with EXP. Unless you get some lazy CSR, I don't see what the problem with a creditor doing this. As far as sending letters to CRA's to update closed accounts, especially car loans, BE CAREFUL!!!!! CRA's don't usually consider our evidence, especially EXP, and they are likely to place the account in dispute. If the creditor does not verify, the CRA will frequently DELETE the positive tradeline. Now you got to beg the creditor to reinsert the tradeline. Many people here, myself included have lost our installment car loans this way.
