Equifax is going to get it

from me. Ok, I just ordered all 3 of my reports to start the assault and I got Equifax today. You guys need to know some of this.

It's funny how I never noticed all the errors. Ok, 2 months ago I got denied an AMB/ Citgo card. several reasons... but 2 of the biggest were overutilization of current credit and too new credit. They were nice when I called them. told me if I just had 3 lines/ 24 months old they'd likely approve me. and I'm thinking... have all my old, really good accounts dropped???

NOPE. My new accounts are 15-17 months old and I still show a few of my seasoned acounts... but Well, let me just give you an example.

REvolving credit line
Opened 7/87 perfect credit
Last date of Activity 10/94
Months Reviewed 12

12!!! My math comes up w/87 months reviewed.

87 versus 12.

Ok here's another one:

Open account
Date opened 02/99
there is no last date of activity... but
the last date reported is 03/01
(it's a currently open account)

Months reviewed 8, not 26

You guys got student loans??? look at them! Mine have been deferred a lot, but I'm still responsible for paying them or deferring them.

Most of them were open for 5 years or more... but they show on my reports as 2 mos, 4 mos, 4 mos

No wonder my credit looks so frigging new!!!

Ok, here's the famous Cap1 stuff. I have 3 accounts, all perfect NEVER over the line by even .01.

they all show over the limit. (and of course, the limit isn't there).

Now I'm purposefully maxing out my cards... but here's what I'm guessing. last month my high credit was for ex, 87. this next month it's 93

So they have High credit 87
Balance 93

Not only am I 100% maxed... I"m over on all my accounts.
Now I would understand it if it showed 100%, since I know they don't report limits... but over 100%!!!!!!!!!

Now, logically I'm trending upwards my balances to max them out and then to lower them... but over your limit statuses even with perfect pay histories have GOT to kill your scores!!!!!!!!!!!

Just thought I'd pass this all along. It's definitely material for disputes/ lawsuits. Their system is artifically decreasing our scores.

Oh, and as for the "we don't have to report limits" argument... I'm going to stipulate that, since the CRAs know it artifically hurts us and is definitely NOT complete and accurate, they should either make them comply w/limit reporting or revoke their contracts. otherwise it's complicity on the part of the credit bureaus.

You know, I'm getting excited about all the failures I know I'm going to get from the CRAs. their incompetence is only going to help me. this is getting really fun.

Oh, and Jim. Look I forget who still had your bk public listing... but on Equifax they actually show a bk as a picture example in their instruction form.

It has assets. liabilities. More info than my report shows.

Also, question: has anyone ever asked for a complete report???
Ex: I am going to be applying for employment with over 100K in compensation. I am going to throw into my dispute that, I am assuming this is my complete and total credit report. However, if it's not, please send that to me as well. Since this report has had so many errors, I want to make sure that a potential employer won't see even more errors.

If they don't give it to me... I've got them. If they do give it to me I can see the difference and possibly find out if disputes stay on or only time-dropped-off stuff is there. I've been very curious to this one!

 

but it's also part credit reporting agency. If, in fact, they're really using the high balance as "high balance or credit limit" column... then everytime you high balance goes higher.. the other column should automatically adjust.

so if your balances are trending upwards... you're screwed. The only way to fix it would be to max the cards in one bang... then reduce it the next month. Otherwise, if we gradually use more and more of our credit lines... we will be penalized every month.

So I agree, part is Cap1 for not reporting the limits.
But part has to be the CRAs... or else we'd just look like we were at 100%... not 110%.

Complicity. both companies know that this is hurting the consumers drastically and neither is doing a thing. Why? because artificially lowered scores means higher cost of credit to us and more money in their pockets. Both their pockets. Higher credit card denial rates make up apply more to achieve a credit (more applications means more money to CRAs)... and the artifically lowered scores means the lenders can charge us higher rates for the same money.

complicity to dupe us all.
I just requested Citgo resend me my decline letter. They still had it in their system. Utilization was number 2.

 

I like Cap1. I don't agree w/what they're doing. But a rep I talked with is right. When My credit line is 10K (I'll be dead by then... and I'm only using 2K of it... and my high credit is 5K or so... I can hide 5K of available credit. so there is a use. Just not when my lines are at 2500 and I'm using them.

I say it's complicity but I won't even try to deal w/Cap1. It really doesn't matter what Citibank or Cap1 do.

I believe, bottom line, the CRAs have a position of public trust and that by allowing these companies to purposefully screw w/our "correct and accurate" information falls on the CRAs.

THey're the ones, ultimately, agreeing to the contracts with Cap1 and Citibank. They're the ones knowingly accepting incomplete information (Just cause Cap1 "don't want to")... and the CRAs are the ones ultimately dissiminating knowingly false and incomplete information that hurts us in the form of rejections and higher credit costs.

and frankly, the CRAs have a huge financial gain. Just think about all of us who are buying our scores.. hoping to bring them up... so we can be debt slaves but with better terms. they sell us incorrect "facimiles" of scores... that they know are tainted by incorrect info. we apply more because we don't like the bad terms we got a year ago... or because we get turned down because our 87 month old tradeline shows only 8 months old. insufficient credit length, my assets.

I truly believe that, until we MAKE the CRAs take their responsibilities to the public good seriously, then we get what we deserve.

BaaaaaBaaaaaaa. Act like sheep. Get slaughtered.

Maybe that's why I'm finally standing up and fighting
Feels good too, by the way

And consider us lucky. the poor slob who only has a couple of Citibank and Cap1 cards and doesn't know what's going on but has made all his payments is screwed if he's carrying balances on the cards...

 

Re: Thanks Marie

yours is a 7 right?. does it show assets or liabilities?

 

Re: Chap 7 BK

just thinking about complete and accurate. Do you remember on their information sheet they also sent???

It has an actual picture of a representative credit file. including a bk and a judgment.

On it. the bk pictured on it lists assets and liabilities. much more info than is on my report. And it's Their example.

Now, while I wouldn't necessarily send a dispute w/just incomplete on it for the bk...

if I'm sending 3 pages of disputes... it might be worth it to sandwich this in (after all, it doesn't even match the criteria for complete that equifax shows in its own brochure)

just planning... it's a gripe. a small one.. but maybe legitimate. and if in between 20 other very sturdy complaints... well, I'm just thinking 6 mos down the road if I have to sue... which I am guessing this will lead to. I just can't imagine that they'll get competent all of a sudden.