OK, need some guidance, but first: Has anyone noted inefficiencies on the Privista scoring model? It appears that the re-appearance of an old account from the early 1990s (paid, never late) back on my Equifax report, along with Wells Fargo changing the name of a credit card account that they bought from First Interstate to Wells Fargo has resulted in my privista score dropping 7 points! Anyone else had similar discrepancies? Is this legit? And second, if these are in fact legitimate situations that actually do impact my score, how to proceed? Old account from 1990s is a paid off furniture line of credit originally owned by Norwest (Wells Fargo bought em out a while back). Last activity in 1993-had fallen off reports but is now back-privista reports as "new account". Second, I sent equifax a letter requesting removal of another Wells Fargo credit card account that they had not validated in 30 days- a "consumer disputes-reinvestigation in progress" notation has been on there since September. I wrote EQ reminding them that they had 30 days to prove or remove-what privista now reports is that they finally changed the account name to Wells Fargo (from First Interstate-original owner) and inserted a second notation "Consumer says never late"...Now, I did not ask them to insert a comment! Where do I go from here?
Anyone? Is Privista scoring mechanism accurate? Is renaming an account (WF credit card) without changing anything enough to impact a score? Is a reappearance of an old positive account the same as a new account in terms of score impact?
Good luck on figuring out their scoring system. My score has been dropping with no changes being made except for balance transfers. The problem is that the $ I transferred are reported on the new card, but the old card hasn't reported since 1 October, with that same $ amount still on it, so it looks as though my total for all accounts is higher. I think Privista is of use mainly to keep an eye on your report in case of identity theft.
Yeah, I think that their scoring only goes so far-the previous first interstate/now Wells Fargo has been closed for a year or so. The other account still lists as open in 1990. What bothers me is that it doesn't appear that EQ paid any attention to my request to prove or remove-long after the period to remove has passed. Anyone-problems w/EQ removing account if they cannot prove? Or inserting a comment when you did not ask for one to be inserted?
Well, let me answer part of my own question, for the benefit of others. Pulled my own eq report. My score has increased by 2 points from last time. Privista reporting the same info=a 7 point drop in their "model".
