I wanted to add this to another thread I had about Experian, but I didn't want it to get mixed up with other things. I have not seen this addressed here, so maybe this is a good way to get some info out there to everyone. Since my disputes with CRA's recently, my scores have been weird but slowly recovering. Two CRA's are reporting upper600's (TU FAKO=647, EQ real score from MyFico= 672). But EX FAKO score is 531. I know there will be slight differences, but this is has been a huge difference for some time now. My EX real Fico score before dispute was 645, and I had several negs deleted. The other CRA's slowly came up, EX never did. I called them to hear them tell me why this is so. I ended up telling them I was not happy and that I would be talking to the FTC, which I intend to do but havn't done yet. EX told me something and said this could be a reason why the score is what it is. They said they are noiw using a new scoring system called "VantageScore" (trademark). They said that this new scoring just started, that all 3 CRA's agreed to use it, and that this new system may be why my score is different than what it was before. They also said there could be other factors involved as well (maybe some deleted itmes also deleted history, or something that had a good effecxt before is gone, etc). I'm still not believing they have reasons that justify my score. But I wanted you all to know about 2 things: 1.) This new VantageScore system 2.) Some things that are on this mailing from EX (you should know that a file like that exists, probably for everyone) This mailing says it's being sent to me to understand my correction summary (I think because I called and complained). This thing reads like an CIA file! I have never gotten a CR that had this much info on it! It lists the negatives first, then it lists positves, all under "Credit Items". Then there is a section called "History of Your Account Balances", where it lists all balances on CC's, loans, etc, and it shows EVERYTHING - month by month balances on each. Then it lists inquires, the kind that others see and the kind that only you see. There is something here that I never saw before on my CR's, but I've heard mention here - "permissible purpose". (so when we get a copy of our report, why doesn't all of this show? Seems there is file they have for them, and then there is a file they have for us to see) (I posted a Q. about this in another thread today). And as if my jaw wasn't dropped to floor already, I think I went into shock with the last part - Personal Information. They have 9 variations of my name, and 16 addresses for me, my date of birth is wrong, and there is a past emplyoyer listed that I have no clue about! Oh, I plan to dispute, but I don't know where to begin. I really just want to go straight to the FTC. 16 addresses! Most are some variation of one address, which concerns me - an aprtment complex, with the correct apt. number, but also with several wrong "lots" (5 variations of that address), another 5 variations of another address, a couple of old addresses, my current address, and there is one I have no clue about at all! This mailing also includes several pages about scoring and credit reports. Ok, any comments on this new scoring system? Or on anything else mentioned here? I was anfry with EX before, but now I'm outraged. I do think they are bad people. I recently found out that they have not reported 2 great loans, and I verified with the OC that it was reported to all 3 CRA's - the other 2 have listed them - good credit history - one was a car loan for 5 yrs of perfect payments 1997-2002, the other was also perfect payments of a small loan. They have done bad things to me and my credit - it feels like a personal attack. TU Fako = 647 EQ Fico = 672, EQ Fako = 627 EX Fako = 531
A few things I have observed and read.. When you dispute with EXP. they punish you by dropping your score. Here is how: Say an account is scheduled to come off your report June 2008. You fle a dispute and it is "verified" Sept. 2007. They report it as a newly reported recent CO as of the "verified" date of Sept. 2007, and put a note on your account, "will remain until Sept. 2017" Any recent negative activity lowers your score, they re-date your accounts, when disputed. They have done the d.o.b. and the address, name thing to me before, but not as bad as you got hit. I got all but one name removed, and all but one address removed through disputes and complaints to the FTC. They must be linked to a reported account to be listed, and the CRA has to tell you which account. Here is why I think EXP. does this (my opinion) 1) They sell each name and each address to pre-approved offer creditors. (16 names =16 different sales) 2) You are going to be busy disputing these, and leave them alone on other items. If you dispute all info and all accounts at once, get ready for: "we didnt understand what you were asking for." You got it right they are trained to bebad people, Be ready for some of the comments like I listed in my other post. Just remember dont let them drag you down to their level, it is what they want. "When you argue with an idiot, make sure he isnt doing the same thing" I would dispute by phone first, then by return reciept mail.
From owe2much Yep, they sure do. But can I dispute that, or can that can be corrected with FTC complaint? I'm gathering my info now for FTC complaint. It surprises me that they treat consumers this way. I thought the big 3 (EX,EQ, TU) were neutral, and the CA's were the Bad ones. Here is just another reason to dislike EX. This info is probably out there in many other ways, and it is a bit older, but still important to know, i think. I got this from another credit source, but I'm not sure if I'm permitted to say. There is a radio show that discusses money matters, credit included, and he has a web site. This is from his web site: "Aug 17, 2005 -- Experian must pay fine for bogus Youâ??ve probably seen the ads all over Web sites and on TV for â??Free Credit Reports.â? Most of them are bogus and Experian, one of the three credit bureaus, recently got its wrist slapped for this very thing. Experian was offering â??free credit reports online in seconds,â? but the company was actually ripping people off for $79.95 each time. By opting for the â??free reportâ? people also signed up for an annual credit monitoring service. The company made off with about $80 million, but itâ??s only being fined about $1 million. Thatâ??s pathetic. There is only one legitimate site that offers free reports with no strings attached. It is annualcreditreport.com and it was designated by the federal government after the law making credit reports free went into effect. It started last year in the West, and effective Sept. 1, everyone in America will be able to get one credit report a year FOR FREE! In Georgia, people can see reports from each bureau twice a year. Shame on Experian for trying to dupe people, when the organization is supposed to be a legitimate credit bureau." And lastly, here is more info on that new scoring system. It's from the same web site I mentioned above: "Jul 26, 2006 -- FICO vs. Vantage - what's the difference? Credit scores can be pretty confusing. Thatâ??s in part because the three credit bureaus each use a different score. One score with one company can differ significantly or mean something completely different than another companyâ??s score. So, people never know if they have a good score or not. Well, to complicate things even more, a new scoring method has been introduced. Equifax, Transunion and Experian â?? the three credit bureaus â?? have started issuing a score of their own called the â??Vantage Score.â? The traditional credit score has been formulated through a company called Fair Isaac, which issues a FICO score. About 90 percent of creditors out there use the FICO score and it has been the gold standard. But the three bureaus want part of the money to be made on credit score. So, Experian became the first company to sell this fake score, the Vantage score. And it is a fake score for now. So, for now, continue to get your credit score from Fair Isaac until we learn more about the other method. To get it, go to myfico.com. And you get a credit score when youâ??re buying a home or any other major purchase." If I'm allowed to say the name of that site here, let me know, I'll gladly share it. Also, it would be good to hear from others on this scoring system.
Re-dating is aviolation of the FCRA. You can dispute and file a FTC complaint. When I did this recently the FTC wanted the report numbers if available. Experian blamed the OC and said they would tell them my concerns, but if the OC did not change it, it would remain. I filed a complaint July 26, and had a new report sent on Aug 5. So it took EXP. about 10 days to "verify" the reported dates. They changed nothing, and deny any responsibility. This was also during the time I sent DV. I dont know what to do next.
I wonder if there is any $$$ in it for me, if they are guilty of this violation. I have report numbers, I'll have them all handy when I call. There is one account in particular: it was listed on all 3 CRA's, 1, deleted, one remains the same, and EX "updated" - it now appears in the positive section, but has July 2006 all over it now (except "date opened": Dec, 2004), and has notes that I consider negative, like "paid in settlement", "collection as of July 2006" (I paid this item in Dec, 05), "Creditor's statement = Account legally paid in full for less than the full balance" (not true-this was the full amount), and "this item was verified and updated on july, 2006 (that's when I disputed). Interesting notes, all negative, and where it has a place for "Recent Balance" there is "NA" there. Even their negative notes say it was paid so if this was verified by the OC, they would have "0" in that part. I still wonder how this same account had 3 different outcomes by the 3 CRA's. I'll let the FTC figure it out. From owe2much I don't know what to advise here. It seems you and I are in the same situations, generally. Maybe call the FTC back about it? Send a 2nd DV to the OC? If nothing else, you'll have documentation. I just don't know.
Another EXP. masterpiece: Moving a negative account to positives. It shows all negative info still, however they can now report it for 10 years instead of 7 years. (because it is a positive account) Again they blame the OC, but usually move it back with no hassle. In my other post I mention how they (EXP.) told me about this.
