cancel
Showing results for 
Search instead for 
Did you mean: 

Help! Does BofA report to all 3 CRA'S

tag
Red22
Contributor

Help! Does BofA report to all 3 CRA'S

I am trying to rebuild my credit.  When I began here on this site in Sept. 2008, my Fako scores were                EX: FAKO:536 TU:FAKO: 532. EQ:FICO: 524  I have been sending dispute letters since and had only one item fall off my credit due to 7 year limit.  I have been improving little by little.  Yesterdays scores were                   EX: FAKO 565 TU:FAKO:562 and EQ:FICO 590.  I applied for a B of A secured CC and got it (thinking I can start putting some positive things on my credit).  I checked scores again today and CC was reporting on my EX credit report but not TU or EQ.  New scores were EX: FAKO: 585 TU:FAKO:562 and EQ: FICO:590.  My question is how do I get the New CC to report to TU and EQ?  Am I on the right track of increasing my credit scores? 

 

I was going to apply for another secured CC in 30 days or after an account is deleted. I was an AU on an account showing negative items on my CR.  I was told on this site to dispute it and it would be deleted because I was an AU and not the applicant. I'm hoping that was true.

 

Crawling at a Snails Pace. . . .

Crawling At A Snails Pace . . .
.
*9/01/08 FICO; EQ:524 TU:532 FAKO;EX:536
*12/07/08 FICO; EQ:548 TU: 562 FAKO;EX:565
**03/10/09 FICO;EQ: 624 TU:563 FAKO;EX:585
**09/21/10 FICO;EQ:661 TU:679EX:663(FAKO)


Message 1 of 14
13 REPLIES 13
WhirledPeasPlease
Moderator Emeritus

Re: Help! Does BofA report to all 3 CRA'S

EX moves at the speed of light, TU and EQ will catch up sometime thereafter.  And yes, BofA definitely reports to all 3.
~*~*~*~*~*~*~*~*~*~*~
From 700 in 2008 to 498 in 2012...
4/23/12 -- BK 13 date of filing EQ = 505
4/18/12 -- EQ 498
12/5/13 -- EQ 669
Here we go.... back on track.
Message 2 of 14
Red22
Contributor

Re: Help! Does BofA report to all 3 CRA'S

Thanks.  I guess I got a too excited about the CC approval and anxious to see if my EQ and TU scores will show an increase.
Crawling At A Snails Pace . . .
.
*9/01/08 FICO; EQ:524 TU:532 FAKO;EX:536
*12/07/08 FICO; EQ:548 TU: 562 FAKO;EX:565
**03/10/09 FICO;EQ: 624 TU:563 FAKO;EX:585
**09/21/10 FICO;EQ:661 TU:679EX:663(FAKO)


Message 3 of 14
Anonymous
Not applicable

Re: Help! Does BofA report to all 3 CRA'S

Write to Bank of America and request that they report your new card to TransUnion and Equifax. I have done this in the past, and have been quite pleased with their timely response. You could also try writing to the Bureaus,but they are not as reliable as the furnishers (BoA in this case) at getting your request addressed. 

 

As for applying for a new CC. just because an account is deleted on your credit report, it will not help to bolster you when applying for new credit. Applying for new credit, even secured will generate a hard inquiry, which will place a downward pressure on your score. New credit accounts for 10% of your FICO score, and hard inquiries will remain on your report for two years. 

 

Have you tried to contact your lenders directly to work with your debt?

 

As for disputing your negative balance with the Bureaus as an AU - don't expect that the bureaus will automatically delete them. If they do not respond to your request within 30 days, they should by law, remove the account, but if they can verify that the account is yours, even as an AU, they will not extend you any favors.  

 

Also, bear in mind that in the second half of 2008, FICO implemented new rules for Authorized Users of CCs, due to the abusive practices of Credit Repair companies. The result was that an AU could no longer benefit from the positive payment habits of the individual that added them to their account. The flip side is that if the same individual defaults on a payment, the AU is not negatively impacted either, so theoretically your score should not be low as a result of the applicants negative behavior. You need to analyze why your score is where it is right now.

  

By the way, an 'authorized user' of a CC is not legally liable for the repayment of a debt, but it is legally reportable for 7 years. Try to appeal to the better senses of the lender to get it removed from your  reports. Although it will have a neutral effect on your FICO score, it can be an eyesore to new lenders. 

Message 4 of 14
haulingthescoreup
Moderator Emerita

Re: Help! Does BofA report to all 3 CRA'S

Again, the AU restriction has been removed from FICO 08, which is barely being used anyway.

And an AU account only reports if it's on the reports. There is no requirement to leave it on the reports once one is no longer an AU. If the lender refuses to remove it, dispute with the CRA's as "not mine."

AmEx is the only one of our accounts that persists in reporting AU accounts after they were closed.
* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007
Message 5 of 14
Anonymous
Not applicable

Re: Help! Does BofA report to all 3 CRA'S

It would make logical sense that the CR Bureaus would remove an account listing if an AU removed themselves from the financial relationship with the primary account holder. This, however has not been my experience with the Bureaus. My spouse, as an 'ex' AU tried this with the Bureaus this when he discovered that he was still recorded as a AU on an ex-girlfriends account, but his 'not mine' disputes with the Bureaus yielded no results. He has to get the furnishers to request the removal of the listings, which did finally produce the result he  was looking for. 

 

How do you know about the limited use of the FICO 08 scoring model? Is is not possible that in the current economic climate, lenders will take it more seriously in order to gain an insight into a debtor's true spending habits when considering them for a new loan?

Message 6 of 14
Anonymous
Not applicable

Re: Help! Does BofA report to all 3 CRA'S

How long after applying for your BoA secured card, did it take to report on your credit report? We just applied for one for my husband in hopes that his score will increase, and are patiently (not really Smiley Tongue) waiting for it to report. Thanks.
Message 7 of 14
haulingthescoreup
Moderator Emerita

Re: Help! Does BofA report to all 3 CRA'S

eta: sorry, I neglected to use the "quote" button, and I know better! Smiley Tongue This post was in response to Alsofromabroad.

It's one of the handy things about being a mod. We have access to Reliable Sources. Smiley Wink When we weasel something out, we broadcast it here as soon as we can, with the RS's OK, of course.

And of course, it's possible that lenders could start casting about for alternative formulae. In fact, though, the tendency is to not make any radical changes, if for no other reason than no individual wants to be the one who is fingered as "the guy who suggested that we switch to this unproven formula."

Just as an example, though, nearly half the lenders in the US are still using the TU 98 formula, rather than the TU 04 formula. Those years are the dates of introduction, so that means that an awful lot of lenders are still using an 11-year-old score, and ignoring another that's been around for 5 years. (myFICO is working with TU to get the TU 04 scores here.)
Message Edited by haulingthescoreup on 03-04-2009 04:56 PM
* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007
Message 8 of 14
Anonymous
Not applicable

Re: Help! Does BofA report to all 3 CRA'S

Great to have you, Haulingthescoreup! I will continue to look out for you at the forums. 
Message 9 of 14
haulingthescoreup
Moderator Emerita

Re: Help! Does BofA report to all 3 CRA'S

And we're glad to have you on the forums!
* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007
Message 10 of 14
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.