Stepping into the light

Discussion in 'Credit Talk' started by $wealth$, May 24, 2001.

  1. $wealth$

    $wealth$ Well-Known Member

    I have been lurking for about 3 months trying to extract good information from not so good. I have taken some advise with success.

    - Capital One Unsecured - 1 year old. When I called to request an increase, the rep said no b/c I was late one time. Spoke with a supervisor for 5 minutes who granted me $ 100.00 increase:( Not satisfied with service wrote a letter on planentfeedback. Spoke with the infamous Mr. Miller and guess additional $ 1000.00. Wow! Now my cl went from $ 1000 to $ 2100.

    - Target was a lively discussion some weeks ago and by all accounts appeared to be an easier cc to obtain. Tried my luck on line and Wow approved with a $ 500.00 cl. I know it's not mc/visa/amex, but after being denied for so long I wanted to know that I could get credit.

    Just to let you know my credit is pretty poor. On 04/02/2001 my FICO was 577, with disputing some things myself on 05/09/2001 it when to 673. Go figure.

    Well I just wanted to share my limited success and to thank all who have posted their stories and useful information.
  2. mother2

    mother2 Well-Known Member

    The reason your score increased

    could be the fact that they are not factoring the accounts you have disputed. I'm not sure how true this is.
  3. Momof3

    Momof3 Well-Known Member

    Re: The reason your score increased

    Accounts in dispute are NOT factored into your scores.
  4. $wealth$

    $wealth$ Well-Known Member

    Re: The reason your score increased

    I'm not sure the what caused the increase in my score, but my method to cleaning my credit is of course disputing obsolete information as well as paying off some of my debts. Usually the little accounts first, then getting a letter from the creditor stating a zero balance, account paid in full. I then send a copy to each CRA so they can update my file immediately. As you may know they are a little slow.

    In April I manage to pay off 4 smaller dept store accounts. I also dispute any account as "closed by creditor" to be changed to "closed at consumers request."

    Seems like every little thing helps:)
  5. Momof3

    Momof3 Well-Known Member

    Re: The reason your score increased

    I was just trying to point out that if you get your score while items are being disputed, whether it's not mine, never late, wrong balances, closed etc, they are not counted in your scoring.
  6. Rain

    Rain Member

    Re: The reason your score increased

    Mom, unfortunately, I don't think that's the case. I was a frequent lurker at Bayhouse, and I had read it discussed there. (might have been you and Christine talking about it...sorry, I can't remember).
    BTW, thanks for all the great posting and all the help you've given to so many people on both Bayhouse and here. Your great input hasn't gone unappreciated.

    Anyway, back to what I was saying... I had thought the same as you, that disputed items may be screened from the score. However, yesterday I found out first hand that they aren't. I ordered ScorePower at Equifax, and checked for myself. I only have one negative item on my report. It's a $10 collection from a co-pay that my doctor's office says I didn't pay. I had paid the $10 in cash the day of my office visit, and have called the office and they say that their records show I did, in fact, pay it, and they don't know how it ever got sent to collections, or put on my credit report. So, now I'm disputing it with Equifax to have it removed.

    When I ordered ScorePower, I saw it noted on my report beside the collection account, "CONSUMER DISPUTES-INVESTIGATION IN PROCESS". When I checked my score, though, the very first reason code listed was 40: "Derogatory public record or collection filed." The third reason code given is 20: "Time since derogatory public record or collection is too short". (This one I don't understand at all, since the date of last activity for the $10 collection I mentioned is 11/98. They're calling 2 1/2 years too recent?!?!)

    Well, since the rest of my report is public record, collections, charge offs, lates...nothing else negative at all. There's just that one irritating, measly $10 collection, which is currently showing as being in dispute. So, it HAD TO have been factored into the score in order for those reason codes to be listed.

    Just wanted to let everyone know, since I've read a few different people mention that Equifax might not factor disputed items into the score. In my case, they put that puppy right in there. :)

  7. Momof3

    Momof3 Well-Known Member

    Re: The reason your score increased

    Hmmm, that's odd. I know in my husband's case I pulled his report before dispute 577 reasoning codes for deliquent were listed, then I disputed and pulled again his score 650, reasoning codes for deliquency were NOT factored. But let's face it we are talking about Equifax here and if they ever did get anything right I would be amazed. So I guess at times they are and at times they are not?? But like you I can't believe a 95 collection cost him 70+ points grrrrrrrrrr.

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