01-14-2011 08:32 AM - edited 02-03-2011 12:53 PM
I am considering taking legal actions against US Bank if they do not correct the date my account with Kroger was opened. I opened my account with RBS/Kroger in 9/2009. US Bank reporting I opened an account with them in 10/2010. That is clearly a violation of the Fair Credit Reporting Act. Because the account is appearing that I applied and opened i in 10/2010, I didn't get the best auto insurance rate.
01-14-2011 11:40 AM
A CSR told me to sit tight and they would magically update those dates. But my report as of a few days ago still shows the open date of 10/10 although I opened mine 5/09. And it is holding down my score, especially on TU.
They are aware of it, but don't seem to be in a hurry to address it.
You are the first victim of the incorrect reporting I've seen.
01-15-2011 04:12 AM
Oh this is beyond CSR! You must escalate this issue to the department that handles Credit Bureau Reports. Even ask to escalate this to the Executive Office or Department of the President. Start with a CSR and go up the chain through their manager, then their supervisor, and so forth. It took Chase 3 months to fix dates on my report, but once I got beyond CSR, it was quickly updated a few days later. The bureaus say they make immediate updates when special requests come from an institutions Credit Department.
01-15-2011 08:59 AM
I may be wrong, but taking legal action against them will not resolve this particular issue because I'm sure "somewhere" in their Cardholder agreement it states they are NOT obligated to update certain portons of credit reports... only the balance because others like American Express do not report Credit Limits, so it's their policy. I think it can be worked out by escalating, but you must above all things... be calm and speak in a very pleasant voice and be friendly no matter how much you want to jump through the phone and strangle them.
01-15-2011 09:14 AM
I dealt with the type of issue before against General Electric and we settled. US Bank is violating the Fair Credit Reporting Act.
§ 623. Responsibilities of furnishers of information to consumer reporting agencies
[15 U.S.C. § 1681s-2]
(a) Duty of Furnishers of Information to Provide Accurate Information
(A) Reporting information with actual knowledge of errors. A person shall not
furnish any information relating to a consumer to any consumer reporting
agency if the person knows or has reasonable cause to believe that the
information is inaccurate.
(B) Reporting information after notice and confirmation of errors. A person
shall not furnish information relating to a consumer to any consumer
reporting agency if
(i) the person has been notified by the consumer, at the address specified by
the person for such notices, that specific information is inaccurate; and
(ii) the information is, in fact, inaccurate.
01-15-2011 09:15 AM - edited 01-15-2011 09:18 AM
From my past Experience, taking legal actions resolves situations like these. I was able to get my JCP account cleared of any adverse information that was reporting. I was offered to reopen the same account. On top of that, I received $2500 compensation for a $300 line of credit account.
01-15-2011 12:15 PM
Sometimes, the only recourse is to contact a competent Consumers Rights Attorney.
Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.† Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
* For complete information, see the terms and conditions on the credit card issuer’s website. Once you click apply for this card, you will be directed to the issuer’s website where you may review the terms and conditions of the card before applying. While myFICO always strives to present the most accurate information, we show a summary to help you choose a product, not the full legal terms - and before applying you should understand the full terms of products as stated by the issuer itself.
IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more
FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.