My wife's grandmother added me and my wife as AU's on her CC on 6/7/2007 at 9:00pm CDT. Still nothing is showing on either of our credit reports. We've called the CC company and they said they've been reporting the status of AU to the CRA's since 6/8/2007. They said it could take from 30-60 days to show up. We're now at 68 days and still nothing. Could the CRA's be delaying reporting? I can pull my final report and scores for my mortgage at any time now since they're good for 90 days. This is a CC with a $25k limit, less than $2k balance, and is at least 10 years old, maybe 15 or more (we haven't asked her grandmother how old it is), so this could give me a substantial boost in credit score just under the wire for the changes regarding AU's that are coming. Is there any way I can get the CRA's to report? FYI, the CC company did not take a SSN. Could that be delaying the process this long, do you think?
There is NEVER a guarantee that CRAs will report AU accounts. In fact, the AU could end up going the way of the dinosaurs, thanks for the companies who got the idea to 'sell' essentially one month of AU privileges to high CL accounts, to falsely bump up CRA scores en masse... In short, John Doe, someone in the 800 club contacts XYZ Co to 'broker' AU positions in their credit card tradelines. Joe Schmoe from Kokomo decides that he needs to bump his CRA scores by about 150 to line up the mortgage that they want, and XYZ Co says that if they buy 5 of John Doe's AU positions, they should be able to get the boost that they need. When John Doe's CC company updates his tradelines to reflect Joe Schmoe's AU status, John Doe calls his CC company to switch his AU position to the next person on Joe Schmoe's waiting list. So thanks to the few, a major benefit could be lost by all consumers.
Thanks for the history lesson, however it was unnecessary. I was under the impression that if a creditor reported an item to a CRA, they were required to report it on the CR, is that not the case? I understand that this "loophole" will be going away, however, it has not gone away as of yet and I can get full benefit in the next 30 days as long as the CRA's report it as it's being reported to them...
Yes this is the case, however there is no requirement as to a time window to report within. It all comes down to a processing timeline. Keep checking, it should there soon. Remember there is processing time with both the CC end, and the CRA end.
Actually, the CRA isn't required to report *ANYTHING*, except any inquiries for the past one-two year period; and those they are only required to report to the consumer. A CRA can suppress tradelines for any number of reasons, I've seen tradelines which were suppressed because the address being reported on the tradeline did not match the report addresses. A CRA can suppress tradelines, and are required to do so, if the tradeline couldn't be verified by the furnisher as a result of a previous dispute. The furnisher could try to re-report it daily, and the CRA would still have to suppress it. The FACTA amendments added a whole lot of other mandatory suppression reasons. The only requirement is that the data that they DO report is accurate, not that every piece of information is reported. The only thing that they can't do is retaliate against a consumer by reporting a completely null file to a requester. CRA's tried to justify it by saying "He's suing us for reporting false information, so we're not going to report any information so he can't say that we are continuing to publish the false information." They can simply suppress the tradeline(s) at issue and achieve the same result.
