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04-16-2013 09:08 AM - edited 04-16-2013 10:15 AM
Hello, this is my first time on the boards. Did some searched but couldnt find any specific answers.
Ive got my credit up to over 700 (from under 400) on Experian. Im working on Equifax right now. By the time Im done Ill only have ONE credit account and it is a credit card in good standing but its only 3 months old. I accidentally disputed an item that may have hurt me.
On Experian, since I only have 3 months of credit I cant get an unsecured credit card to build mt credit.
I accidentally disputed an item from a utility company. The item looked like this:
APS (it was a utility company)
|Account Owner:||Individual Account.||High Credit:|
|Type of Account||N/A||Credit Limit:|
|Term Duration:||Terms Frequency:|
|Date Reported:||03/01/2013||Amount Past Due:|
|Date of Last Payment:||Actual Payment Amount:|
|Scheduled Payment Amount:||Date of Last Activity:||09/2009|
|Date Major Delinquency First Reported:||Months Reviewed:||40|
|Creditor Classification:||Activity Designator:||N/A|
|Charge Off Amount:||Deferred Payment Start Date:|
|Balloon Payment Amount:||Balloon Payment Date:|
|Date Closed:||Type of Loan:|
|81-Month Payment History |
|ARIZONA PUBLIC SERVI||8298XXXX||11/01/2009||03/01/2013||n/a|
Everything is green as in OK. My question is, did it actually prevent me from getting a credit card because they only saw 3 months of credit and this would have given me a few years of credit, even though it was a utility company and not some other type of credit? Would this have qualified me to get the credit card probably? Also I dont have FICO score and they said its because I only have 3 months of credit. Same thing... WOuld this have gotten me a FICO score?
OR, is this negative credit?
04-17-2013 10:30 AM
Based on what you posted I don't see any negative reporting to it. Now FICO does view some internal codes we cannot see but I bet it is a positive acct; I just don't know how FICO would view it per the mix of credit. Most all utilities that report report as a negative but a rare few do report monthly as a positive and I think this is one, especially evidenced by the monthly updates. It's not a misreporting charge-off is it?
About the only thing that might be helping you per FICO would be the age, but that's only assuming your AAoA is younger than 4 years. It also might be viewed by FICO as a loan, but loans play a tiny part in your mix; you can easily hit into the 800s without one and that's assuming you have no loans reporting anywhere aside from this.
Personally I wouldn't worry or care. The only risk in disputing I see would be an update by this utility. Many times they will misreport in your favor by not adding lates even though you may have been late in the past. Sometimes a dispute will compel accurate reporting and therefore added lates, but all of this is assuming you were ever late.
04-17-2013 10:44 AM
Is it reporting to TU and/or EQ? If so, have you viewed either FICO report since the dispute? Your FICO report from here will have a page called "Accounts". It shows all of your OC accounts. Within that page there's a column showing a red flag. If that red flag is missing, then FICO is viewing it as a positive acct. If a red flag is showing, then there's something in there negatively impacting FICO.
04-17-2013 10:58 AM - edited 04-17-2013 10:59 AM
I tried to view FICO score @ fico.com but they said I dont have enough credit history in Experian. Experian I already deleted that one account and only have one credit card which is about 4 months old. Other then that I have NOTHING on my report (after months of cleaning). I called them and they said they wont have a score for me until I have credit history for 6 months. Thats why Im wondering if it was a bad move for the other 2 agencies. Equifax shows it but doesnt list it in the negatove colume. Transunion's site (truecredit) is all messed up right now. It lists it in the derogatory column but Im not sure that is accurate. I pull from all 3 sites individually daily.