topic Re: What does this mean? in Understanding FICO® Scoring

What does this mean?

BearsAndTurtlesRtheBest — Thu, 01 Nov 2012 01:01:16 GMT

My daugter disputed an item from her account. Its an account from which she was an AU only but disputed for it to be removed, She just submitted it last night and go an alert stating this. What dos it mean?

The following changes were reported for your WELLS FARGO CARD SERVICES account :
Comments on your account changed from Credit card , Amount in H/C column is credit limit to Consumer disputes - reinvestigation in process , Amount in H/C column is credit limit

Re: What does this mean?

llecs — Thu, 01 Nov 2012 02:42:50 GMT

The alert is just letting you know that the TL is being disputed.

Re: What does this mean?

BearsAndTurtlesRtheBest — Thu, 01 Nov 2012 06:30:35 GMT

Okay thanks for you help.

Re: What does this mean?

RobertEG — Thu, 01 Nov 2012 10:21:35 GMT

Lingering behing advisement that they have placed an "in dispute" flag on the credit file is the fact that, while the pending dispute flag is in effect, FICO will temporarily ignore certain factors in its scoring, thus making any score obtained in the interim essentially useless. So it is a bit more than just useless notice of something you already know.

That is the implication of their advisement.

A caution:

The CRAs are notorious, once having placed an in dispute flag on the file, for not rountinely removing the flag once the dispute has been concluded.

It would be wise, once a Notice of Results of Reinvestigation of the dispute has been received from the CRA, which is the document that formally concludes a dispute, to make sure they have lifted the flag.

Re: What does this mean?

BearsAndTurtlesRtheBest — Sun, 04 Nov 2012 21:00:46 GMT

Oh okay thanks for letting me know I'll make sure of that!