It pays to check your credit and dispute when needed

Joined
Apr 7, 2019
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495
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VA
I've been trying to work with Experian on an issue from a long time ago that's been haunting my credit but it's finally been resolved now. They kept showing a late payment on my report but when you'd click the link it didn't show you which account that it was linked too but also where it shows accounts ever been late it listed that at zero. It's been affecting me for several years and I've tried calling them but was able to clear up some of the things on there but they even agreed there was no late payments on any of my accounts but this one account always stayed and it had gotten to the point to where I had even consulted with a local attorney who deals with credit reporting and says they have better luck mailing a certified letter to them and that I needed the 3 reports to review them and I had them from earlier but couldn't get new ones as they only let you get them free once per year. It finally got to the point where I just wanted the account to drop off on it's own but now it's been 8 yrs since that loan was paid off in full and this was still affecting my credit but the late payment actually goes back to 2009 so obviously something was wrong. I ended up disputing it online which they have 30 days to review per the fair credit reporting act rules and they finally just removed that account from my report and I got a nice bump in my credit score too.
 
Joined
Mar 30, 2014
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NJ
Nice! After my bankruptcy, I'm a hawk on my credit report. Have credit karma and check it weekly or whenever they send me an email that there's been an update. Buying a new dryer on my home depot credit card cost me 9 points on my credit score. And I canceled the order after they screwed around on the delivery.
 

Merek

Thread starter
Joined
Apr 7, 2019
Messages
495
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VA
Well it was an actual repossession back from the late 2000's from when everyone was loosing their cars, houses, boats, etc... my hours were reduced at work and the bank wouldn't work with me but did end up receiving a check years later because basically they failed me, it wasn't a big check but anything is better than nothing. I was able to get caught back up in time and reclaim the vehicle but the redeemed repossession stayed on my credit. From all the research I've done is that they can only go back to the 1st time you was late that actually started the process of it being repossessed but I haven't been able to find anything about if you redeem it so I figured 7 yrs from that date but the account never dropped off my report. I don't know if it's Experian's or the creditors fault for leaving it on there so long and not removing it. I don't really understand how it all works but most negative items in theory drop off after 7 but could be up to 10 yrs. It should be when something gets added to your credit there should also be a date from which it expires to be expunged from your report. It's like we're the checks and balances, there's no checking from when they add it to your report as they don't verify it and only report the info that's being given to them by the creditors. I've never had this happen before and typically after 7 yrs it's all gone, not that I make a habit of being late.

My score actually jumped 34 points from them removing it from my report.
 
Joined
Mar 30, 2014
Messages
6,894
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NJ
My credit was around 840 2 years ago and has been dropping ever since, down to 740. No change in habits or debt load

check my report and diddly squat is listed, no idea what is going on
You should look into that more. You went from excellent to good. Credit Karma will tell me what changed if my credit score changes.
 
Joined
Apr 27, 2012
Messages
13,462
Location
MA
My credit was around 840 2 years ago and has been dropping ever since, down to 740. No change in habits or debt load

check my report and diddly squat is listed, no idea what is going on
They probably switched scoring models on you. Vantage scores go up to 950. I forget which credit bureau it was but some only go up to 839. Real fico scores are typically in the 700-800 range. I've never really seen fico scores much about 800, maybe 802-805 but never something like an 820-840. Back in the day though, I'd see some 400-500 scores though. Real deadbeats, hadn't paid bills in months/years and many of them.

A 740 is a normal average score. Probably no lates, but not a lot of credit and not a lot of debt.
 
Joined
Mar 30, 2014
Messages
6,894
Location
NJ
They probably switched scoring models on you. Vantage scores go up to 950. I forget which credit bureau it was but some only go up to 839. Real fico scores are typically in the 700-800 range. I've never really seen fico scores much about 800, maybe 802-805 but never something like an 820-840. Back in the day though, I'd see some 400-500 scores though. Real deadbeats, hadn't paid bills in months/years and many of them.

A 740 is a normal average score. Probably no lates, but not a lot of credit and not a lot of debt.
Credit Karma uses Vantage Score 3.0 which goes up to 850. Other versions of Vantage might have gone up to 950.
 
Joined
Mar 21, 2004
Messages
27,991
Location
Near the beach in Delaware
Vantage scoring models seem to go up and down significant amounts just for a statement balance. You can pay off the card in full each month and still have a statement balance.

I think the Vantage score was developed so as not to have to pay a fee to FICO rather than to get a better scoring algorithm.

I ignore Vantage and only look at FICO.
 
Joined
Mar 2, 2004
Messages
3,714
Location
Kentucky
I've been trying to work with Experian on an issue from a long time ago that's been haunting my credit but it's finally been resolved now. They kept showing a late payment on my report but when you'd click the link it didn't show you which account that it was linked too but also where it shows accounts ever been late it listed that at zero. It's been affecting me for several years and I've tried calling them but was able to clear up some of the things on there but they even agreed there was no late payments on any of my accounts but this one account always stayed and it had gotten to the point to where I had even consulted with a local attorney who deals with credit reporting and says they have better luck mailing a certified letter to them and that I needed the 3 reports to review them and I had them from earlier but couldn't get new ones as they only let you get them free once per year. It finally got to the point where I just wanted the account to drop off on it's own but now it's been 8 yrs since that loan was paid off in full and this was still affecting my credit but the late payment actually goes back to 2009 so obviously something was wrong. I ended up disputing it online which they have 30 days to review per the fair credit reporting act rules and they finally just removed that account from my report and I got a nice bump in my credit score too.
The credit reporting / scoring system is a scam designed to make banks money, not help consumers is my opinion.

I remember back when I was in my early 20's (in the early 2000's for context) and wanted to get a small loan for a car (we're talking $10k car, with 50% down). Had 2+ year job history, some positive credit, should be smooth sailing for a small auto loan. Wrong. The three credit bureaus had umpteen collection accounts on my record for medical bills when I was 17 years old. I had my burst appendix removed (emergency surgery) when I was 17, and they slapped every one of those medical bills on my credit report to the tune of $50k+ (6 weeks in hospital). I called the creditors, many said "sucks to be you" or "your mom/dad should have paid." Collection agencies wouldn't help, told me to contact creditors. Had no money/knowledge/experience to get a lawyer back then. Some came off with a few phone calls, many took till the 7 years elapsed to drop off.

Fast forward until recently (few years ago?), I had medical bills put into collections and posted to my credit report. These ones were for when my kids were on medicaid (2017-ish, when we first moved to KY, I took a low wage job for a couple months till we got established). Complete utter nightmare. Bills were paid (by Medicaid) but the collection agency says they weren't. I even got the collection agency and the subcontracted billing provider on a three way phone call-- billing provider says they're paid, collection agency says their paperwork doesn't match up and does nothing. When I dispute it, I get copies of the bill from collection agency saying nothing is paid. Constant runaround and I don't have the time to mess with it...

Luckily those couple collection accounts are somewhat old now and don't ding my credit much, but still leaves a very sour taste in my mouth for credit reporting / scoring models. Makes me feel for the people that struggle with it. Fortunately, other than my mortgage, I've learned to live without credit out of principle. Credit cards sure, but unlike when I was in my 20's, I'll make money off of cash back/rewards these days instead of paying banks outrageous sums to loan me money.
 

dnewton3

Staff member
Joined
May 14, 2007
Messages
9,733
Location
Indianapolis, IN
I'd not heard of Vantage; had to go look it up.
I already have my three mail files locked; Equifax, Experian, Trans Union
Is that Vantage an agency which I need to also lock my credit files directly? Or, will Vantage be locked out of my three mainfiles by default?
 

Merek

Thread starter
Joined
Apr 7, 2019
Messages
495
Location
VA
I'd not heard of Vantage; had to go look it up.
I already have my three mail files locked; Equifax, Experian, Trans Union
Is that Vantage an agency which I need to also lock my credit files directly? Or, will Vantage be locked out of my three mainfiles by default?
Vantage is just a scoring model that the 3 reporting agencies have all gotten together and created.

Just thought I would update since my score increased by 34 points but then right after it dropped 2 points when I applied for another card and then another 27 when I was actually approved but last month I gained 8 points back so I am still technically ahead compared to where I was before the nice bump in score. I didn't really need another card but I don't plan on using this one that often and if I can't at least pay it off in a month or two then I won't use it, it's one of those store retail cards where you never get the best rate and is now the highest one that I have. I did have a Care Credit card but I always paid that one off in full but if you don't use it in like a year they will close the acct due to inactivity, I had planned on using it last time I was at the dentist but they closed it right before my appt. I typically go twice a year and one of the visits is free but the other one I usually have to at least pay something.

But yes I totally agree that the scoring system is a way for the bank to make even more off the consumers. I've pretty much stopped worrying about my score and just pay my bills each month and try not to keep adding new debt. I have made one new purchase after I got the card but I just paid it off last week so now I have 100% of the available balance working for me.
 
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