My wifes capital one accts are in good standing. But we want to pay down her accts so instead of the CRA reposrting 20% available credit we want it to be 65+% available. Is this smart to do? Dispute the balance so that the CRA will update her file quicker> Or is this taking chances that they might delete her tradeline?
Why don't you just pay it down and wait for the CC to update, like everybody else has to. This "frivolous" dispute will probably alter the TL.. Since it's positive now they only way to go is to make it worse. Why put a good TL at risk by filing an inappropriate dispute.
I have to agree with Butch. I submitted a dispute to Equifax regarding the credit limit on my Burdines card. Although it came back with the higher credit limit, Burdines re-inserted a 30 day late from 1996 that I had removed about 2 years ago. Back to the drawing board.
On the average tl there's probably a hundred different codes and info. items involved. If just one of them gets messed up you can really screw up a good trade line. There's just too much that can go wrong. Not worth it.
I thought Capital One does not report CL's. They do not report mine anyway. With no CL reported how will anyone know whether you paid it down to 65% or 20%?
They report the high credit balance. The only thing you can do is max out the card, wait for them to report, then pay it back. A cash advance would be the best way, not buying stuff.
That makes sense, but when companies get your credit report, is it an automated process where information is submitted electronically and analyzed by a computer system, or is it a manual process. if it is automated, wouldn't the lack of a CL field from CAP1 screw up the download and mess up the statistical ananlysis, or would the computer program know to insert the high balance field in place of the CL field where no CL field is present? If it is a manual process I would question the data input clerk's ability to know to input the high credit balance in place of the CL field.
I wouldn't dispute a good tradeline--like someone said above, if it can get screwed up it will. I've had that happen--disputed a tradeline that was reporting weirdly, albeit it as a positive account, and the company then reported it (incorrectly) with a bunch of late payments. Took forever to get it corrected, and I mean, seriously, about 6 months. Nowadays, if it's fairly correct, I'll leave it as is!!
I agree. I disputed my car loan. They had not reported in over a year, so I wanted the new balance to show. Instead, EXP deleted the whole TL. My score actually went up 4 points though, so I'm not even bothering to have it fixed. I figure they'll rereport eventually, and for now it's just showing that I'm $13,000 less in debt than I really am! LOL
NOT THAT I CARE...but I lost FOREVER my AMEX BLUE from EXPERIAN because I said------>"N/A IS NOT MY CREDIT LIMIT...$15,500 IS...PLEASE FIX IT" They removed it (THE WHOLE ACCOUNT)!!!
thanks guys makes sense...i dont want to screw this one up. The credit card comapny was nice enough to take off a 30day late on all of her cards and her fico went up 76 points....I think I will leave this alone! You guys are great, both my wife and my credit have increase almost 70+ points each, just by listening to and following directions from people like butch, lKH, george....I really appreciate it!!!!
Sue em Geo. Their reporting is not complete and accurate. It's just as important to include your good TL's as it is to remove inappropriate negs. LOL
