Experian is rigging our files

to have lower scores. I think this is the worst one yet.

Here are the facts: If you have any account (eg: I have Cap1s) that does not report the credit line but instead reports the high credit:

Experian, on their own, makes the sin worse. If your balance is increasing they don't even have the dignity to make you look 100% of your credit line. Instead, you look OVER THE LIMIT.

Let me give you my examples:
I have a 5000 limit Cap1. My highest balance to date is 2000. I charged 3000 and my statement cycles.

My credit expert shows this: High credit 2000, current balance 3000. I'm 150% and a full 1000 over my limit according to Experian.

I thought this might be a credit expert goof so I ordered a hard copy and Merry Christmas to me, it's the same.

So, if you have any account where the credit limit isn't showing and your balance is increasing, Experian is screwing you. They could at least have the courtesy to make me look 3000 out of 3000.

Or they could do the correct thing and make me look 3000 out of 5000. But no, I'm now falsely over the limit.

This can only be Experian. Your "high credit" updates the next month. So next month I'll have a high credit of 3000. But what if I charge and pay 3500... You guessed it, I'm over again! This alone is worth a lawsuit from everybody.

I dare say, even though he's on a gag order, that this may be part of how Lizardking got 2500 out of Experian... it certainly is a big enough grievance to get money for it. I wonder the effect on my score since I have 3 Cap1s all increasing in high balance this month...

Just more food for lawsuits.

 

you won't. you'll dispute your credit line. it'll come back and say verified... and that's it. they haven't corrected anyone's file as of yet that I know of...

so then you request a procedural description for the investigation and they won't send it... you can do it again for good measure if you want but then you can sue them for FCRA violations...

or you, in one month, max your balance and then pay it off the next month. Your max balance substitutes for the credit line and your ratios show by your actions...
but as your balance increases you'll really pay in fico score for a month.

If you submit your statement as proof they'll ignore it and say they don't accept info from consumers... another FCRA violation by the way. at 1k each these really can add up to a great new year

sorry for the news but if you get any other results I'll eat my power cord.

 

ah yes, pulling a George

good way to hide available credit. maybe you should dispute your balances on all your cards. the bureaus won't update them they'll delete the tradelines completely if they're positive...

then you'll look like you have less credit, you apply for new credit and about the time you're approved the monthly tape updates will hit on your old accounts and you're back where you started but with new tradelines...

well, unless your name has a 'george' in it. ;0

 

Honestly, I think this isn't an individual issue, I think it's a class action lawsuit waiting to happen.

think of all the people negatively affected and not knowing it.

 

It used to be that you were at 100% which my common sense found ludicrous... but over your limit.

How much more willful does the violation have to be before the FTC steps in?

 

I agree Cap1 should have to report limits...

but who is their agreement with? Oh yes, Experian et al.


My real point is not that limits aren't reported and they should be, but that Experian compounds the problem by updating the "high credit" amount the month following a cycle.

Eg: if your previous high limit was 500 and in

Jan : High limit 1000 bal 1000, Experian shows it as
High credit 500, Balance 1000.

If the next month you have 0, then you're
Feb: High credit 1000, Balance 0

if the next month you're 700, then you're
March: High credit 1000, balance 700

But if you now reset your high limit because you charge more than 1000... say 1500, you're

April: High credit 1000, balance 1500

they don't even make your high credit change during the update, it lags a month *cycle*.

The worst it should be is that you're at 100% of your limit:

Eg:
April: High credit 1500, balance 1500


which is still ludicrous if your limit is 5000. Instead of a sweet ratio, yours sucks. But with Experian (over the others) EXPERIAN makes it worse by updating your high credit column a month later.

I've tested this for several months now, and I'm positive on this one. It's the basis of a new, Dec lawsuit they're getting.

Also, remember: if you want to correct a smaller problem, make Cap1 report limits.

To correct the real problem: make all CRAs acknowledge that complete, accurate tradelines of course include the credit limits.

I think this is the worst attrocity there is going on in the CRAs because they KNOW if your balance is increasing they're screwing your scores and it's all internal EXPERIAN.

What needs to happen is everyone affected needs to sue for 1000 punitives per tradeline plus actual damages, don't settle, and take their money.

 

Remember when you want to sue them for this:

apply for something and get turned down. ask for an increase and get declined.

You must have actual damages to have real standing to sue... and your report has to be seen by a creditor to count as a report (you looking at your report is NOT the definition of consumer report as per case law).

then sue them for FCRA violations per tradeline.

there's no real way to make you whole, although normally the tradeline is corrected. Unless they hard correct the credit limit... then there's no real remedy... which is SO odd...

but you've got a slam dunk on FCRA violations. Talk about incorrect and inaccurate. Morons.