Experian/Citibank I am so mad!

Discussion in 'Credit Talk' started by Momof3, Dec 20, 2000.

  1. Momof3

    Momof3 Well-Known Member

    Well I got my updated report from Experian regarding my Citi limits that I called about a feww weeks ago, still shows N/A, so I called Experian they told me Citibank did not verfiy the limits!!!!! Well I just sent them a copy of my statements with limits highlighted, this had better work or I am filing a formal complaint. I asked the woman if balance/limits effect the FICO, which I know they do, and she said yes and I said then how can you report balances without limits, then your scroing sysytem is inaccurate, she didn't have an answer for me

  2. Ebby Calvi

    Ebby Calvi Guest

    RE: Experian/Citibank I am so

    Citibank is notorious in the industry for 'creative' credit bureau reporting. Your FICO is negatively impacted by this. File complaints with BBB, OCC, and any other federal regulators or Citi will never change their stripes.
  3. jamie

    jamie Well-Known Member

    RE: Experian/Citibank I am so

    Mom, I wouldn't be so quick to blame Citibank, I've been struggling with Experian for months to fill in those blanks and N/A's on several accounts but they never do. The other 2 CRA's have the figures. This does effect your credit score. So, If a potential creditor only gets a "score" from the CRA's they don't even see a written statement,or that there has been a dispute filed. Of course, that is your only recourse after exhausting all efforts to resolve. As I read last night: "Trying to correct a credit report is like a slave working to clean his chains. He may feel better afterwards, but his time would be better spent sawing rather than polishing."
  4. Momof3

    Momof3 Well-Known Member

    RE: Experian/Citibank I am so

    Yes Experian seems to do this with several accounts, Citbank, Target and Jc Penney for me. I have sent my highlighted statements and demanded they include my limits and if they do not I will them file a formal complaint.
  5. mj

    mj Well-Known Member

    RE: Experian/Citibank I am so

    Don't be so quick to blame Experian (god, I'm defending the evil CRAs now!)...

    Citi (and Amex and a few others) don't want to divulge limits. Reason? The CRAs make the bulk of their money from doing target marketing activities, hence the lovely "you've been preapproved..." junk mail that we get inundated with.

    Citi and Amex have stated (in interviews with trade pubs.) that they don't want to share that kind of data with their competition (i.e. if you were Chase, wouldn't you like to go after all Citi accountholders with limits >$15k?)

    The CRAs have responded with a "you get what you give" policy, so neither Amex or Citi can get pre-screened data based on data elements that they withold (i.e. Citi can't get a list of all Chase cardholders with limits >$15k).

    All this corporate brinksmanship is well and good for the companies, but what's happening is that our credit scores are being injured for it.

    Case and point: if you ONLY have a Citi Platinum and Amex Blue, your FICO score is computed using the "HIGH CREDIT" (most you've ever owed) number in the utilization ratio. SO...if you have a $20k limit on your Citi card, and you've bal. xfered $2500 on it (and that's your highest balance)... whammo, you're at 100%. Your score suffers.

    The only way I can see around it is to "play the game" by charging to the limit and letting it ride for 1 month, then paying it down.

    What a pain.

    I can't believe that someone hasn't initiated a suit about this ... but then again, to file a suit, you'd need to know the way FICO scores are calculated.

    Any lawyers out there wanna start a class action and try to get the FICO formulas disclosed as part of discovery? That could be fun.

  6. jamie

    jamie Well-Known Member

    RE: Experian/Citibank I am so

    Believe it or not, sometimes it isn't your score that produces a denial. Some credit card companys deny an application because of where you live, or even your age. Sears does this all the time. P.O boxes and RR's are sometimes automatically rejected. And they give you some cockamamee excuse for denial, like too many inqueries. It happened to me, I had to give them an address without the RR before being approved. Denied one day, approved the next. Go figure.
  7. Samantha

    Samantha Guest

    mom of 3

    One of my friends used to work for citibank. she said there is a reason citibank wouldnt verify the limit. All you need to dod is send citibank a letter telling them that experian will be writing to them to verify the limit on your card and that you give them permission to do so. Then sign the letter. the reason citibank wouldnt verify the limit is because people claiming they are from credit bureaus continuously write and call them trying to get information on customers credit cards fraudulently saying they need to update your credit report with them. she said they are usually just trying to steal your persnal information. you see scammers not only call the customers but the credit card companies as well. I tried to get the adress from her that your supposed to wright to but she doesnt remember it. she said to just call citibank and ask for the credit bureau dispute unit adress. tell them its not the adress for the credit bureaus. but the adress for citibanks credit bureau dispute unit.
  8. Momof3

    Momof3 Well-Known Member

    RE: mom of 3 Thanks

    I will try that IF my copied statements do not work, but I also know Citibank is notorious for not wanting limits reporting, actually a citi bank rep said it. Apparently Experian will scratch their backs, but Equifax and TU will not and always report the limits. I will not give up until my limits are placed on my reports!!
  9. Brandon

    Brandon Guest

    RE: Experian/Citibank I am so

    Sears does not ever deny credit due to age or where you live. You assume way too much. Unless you aren't of legal age to enter a binding contract or your address you apply under has a variation with the credit bureau would be the only reasons those would trigger a decline. Both of which are legal reasons to decline a credit card.

Share This Page