I have a 5+ year old current credit card account that does not show on my 3-1 Credit Report from the 3 big bureaus. I contacted the creditor about this and they sent me a letter stating that they do not have to report my account information to the credit bureaus. Is this true? I thought that a credit card company must report my account to the credit bureaus. Is this law? If they don't have to report then a lender can't see my good or bad usage of this account. Thanks for any input.
No company *HAS* to report anything to the credit reporting agencies... The law only requires that if they CHOOSE to report to the credit reporting agencies, that they report only 100% COMPLETE, ACCURATE, and VERIFIABLE information.
You have the right to show the perspective lender documentation proving this account and its history for them to consider that along with your credit bureau report. Also, you can check with the CRA's about how you can manually add this trade line to your credit bureau report, the trade line won't be updated, but it can be placed on your file, at your request; you may have to pay for this service.
1*To get the CRA service a creditor must pay each CRA a subscription fee for their service. There is no law forcing a Creditor to pay for and use a CRA service. 2*Exactly & that is just one of the many reasons why credit scores are bogus. *************** GET THE BASICS HERE. http://consumers.creditnet.com/straighttalk/board/showthread.php?s=&postid=410243#post410243 ***************** >
