12-05-2012 12:31 PM - edited 12-05-2012 12:33 PM
I have a 750 FICO score and have tons of accounts but when I applied for a loan today the report she pulled only has two accounts! Both were collection accounts that dropped off my reports over a year ago. I have maybe 20 other positive accounts and the only thing she could see on my report were the two collection accounts so I was denied.
What the heck???
12-05-2012 07:56 PM
Must be a split file. You will have to call the CRA to have that fixed.
12-06-2012 08:52 AM
If they dropped based on expiration of the credit report exclusion period, then the CRA has committed a rather serious violation of FCRA 605(a)(4) by including them in any credit report provided to others.
The CRA should fall all over themseleves to correct the mistake, whatever the basis.
I would couch any contact with them as a complaint of violation of the FCRA exclusion requirement, which is imposed directly on the CRAs.
12-07-2012 04:38 PM
EQ is notorious for split files. Your CR file is allotted but so much space and data. If you have many accounts and several soft and hard inquiries, it'll split your file to make room for all the data. As a result, you can pull your CR one day and see 20 accts, for example, and pull the next and only see a couple.
I've never been through this, but others have documented their results in here. It can be fixed by contacting EQ and they'll go over your reports line by line and determine how to piece it together.
12-07-2012 08:14 PM
Is the address where you applied for the other 20 accounts the same one as the one used on the loan app? I presume the social security number is the same as well.
12-11-2012 05:57 PM
Thanks guys. It was indeed a split EQ file!
Took a while (one EQ guy even told me there is nothing they can do and i'll have to live with it!), but I kept calling and someone fixed it for me.
myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.>> About myFICO