Hi everyone, To give a little background info and at least attempt to make a long story as short as possible: I've had a Capital One card (it's now a 'Platinum' status card) for over 9 years. It's my one and only credit card, and I never carry a balance. Last summer I applied for an AmEx card to increase my available credit, enhance my credit history, and mainly for expense tracking (I charge a lot of day-to-day expenses on my Cap One card and generally pay it off in full upon receiving the stmt). I was denied from AmEx, which was surprising considering my EQ FICO was over 750 a couple months earlier when I got an auto loan (never had one late payment in my life). I subscribed to a monitoring service so I can constantly check my credit bureau activity and noticed that my Cap One account suddenly ceased to appear on my EQ report, dropping my score into the 680s! I called Cap One customer care to explain the situation, and they told me they report to all bureaus monthly- but they would update EQ with another reporting just in case there was an error. So, a month or so later (Sept. '06) my EQ score is back up over 750. Now...as of February '07 I noticed my TU score has suddenly dropped into the 680s. Upon reviewing the report, my Cap One acct. of over 9 years doesn't show at all in the report To summarize, the only TLs I have are a small mortgage, small car loan, and my Cap One card. Unfortunately, my Cap One acct. is my oldest TL, and when it doesn't appear in my CR, it doesn't look good! Since this is the second time this has happened in less than a year, is there any kind of action other than another call to customer service that I should take? A letter to corporate, perhaps? I just want to get this corrected ASAP, and ensure this doesn't keep happening every 6 months! Do creditors deliberately do this, and if so, is there any legal recourse available? I don't want to apply for another card until all of my credit scores are correct (since you never really know which bureau's score they are going to run). Thanks for reading and for any advice.
They are not required to report any activity at all.The only requirement is if reported,the account must be accurate. The only way I know to fix this is to stay on Cap1 pleading them to reinsert the account to the bureaus where it dropped.You will have to be nice to them as they are not really violating any laws by not reporting.
You may also want to check with TU, and ask whay they may not be reporting. If the entire tradeline/account is not there (and it used to be), that sounds like a TU issue. But I would enlist the help of Cap1 also, and request continued reporting. I've found them to be pretty helpful in these situaitons.
Thanks to both of you for the info. I called Cap 1 this afternoon and explained the situation. They said they do report monthly and that it's a TU issue, and will initiate a dispute on my behalf. They did that last year with EQ (same situation) and about 4-6 weeks later the TL appeared. It just seemed strange that the same situation happened twice in a year, with two different CRAs. It's scary to see your score drop 60-70 points all the sudden!!
Your post is good information for us "FICO model crackers" too, your situation shows the effect of a 9 year old tradeline on the model! It is good info to know.
Please do stay on top of Cap1 one with this request.They like to talk out of both sides of their mouth.LOL.
Having same problems they said they faxed letter to transunion waited like 60 days called back and called trans union. Trans Union claims never got anything so called Cap1 back they resent it I got copy of letter from them showing this and as of yet 30 days later No updates on Trans Union.
