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Established Member
Posts: 20
Registered: ‎06-06-2017
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Revolving Utilization

My Credit Wise FICO through Cap One has a huge negative due to a 61% Revolving Utilization. I can't determine why since I have never reached utilization anywhere above 25 % of total credit and no more then 15% on any of my 3 CC. I have a perfect payment record on all cc. I even pay a couple times a month to keep the balances down. The result has been to drop my FICO on that site to 600. Ouch!

Can anyone exolain how this works and what I am doing wrong?

Super Contributor
Posts: 14,067
Registered: ‎01-04-2014
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Re: Revolving Utilization

I don't know about anyone else but i completely dismiss Vantage Score as a rouse.

 

It had dumped my own score 100 points at the same time NFCU showed my FICO genuine 9 score 791.

 

Also other version of authentic FICO generated scoring has my TU + EX in very acceptable ranges.

 

Vantage is been a negative introduction to FAKO scores. Even Credit Karma used to have a decent version that nearly mirrored FICO 8 before they went that route.

 

And by the way, when you Apply for Capital One they go off real FICO standards anyway not the one they show us on their credit wise.

 

In my own opinion. Others might differ of course.

Last App-Jan 26* It's All In The Magic Of Your Own Destiny * FICO TU 769 EQ 723 EX 777
Valued Contributor
Posts: 2,427
Registered: ‎03-28-2017
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Re: Revolving Utilization

What you are saying is totally impossible.

 

You say you've never reached more than 25% aggregate and never more than 15% on a single CC??

 

That math is incorrect.  You could never even get to 15% aggregate.

 

Sounds like something else is going on.  Pull your most recent credit report from Credit Karma and see.

 

Also, Credit Wise is NOT a FICO score.  It is an "educational score" which has no bearing on your FICO score.  Throw that score away.

FICO8 3/17 550EX, 570TU, 559EQ
FICO8 10/17 710EX, 693TU, 717EQ -- almost 700 club!
Gardening since Aug 7, 17
Valued Contributor
Posts: 1,076
Registered: ‎02-23-2017

Re: Revolving Utilization

As others have said, Credit Wise offers a VantageScore rather than a FICO. But the real issue has to do with balances and utilization rather than the fact that Credit Wise is providing a VantageScore.

 

In Credit Wise, click on "Report" in the navigation links on the top of the page. After that, click on Accounts and Balances. (Underneath Accounts and Balances, it'll say something like "You have a total of X accounts, Y of them are open, and Z of them are closed.")

 

Once you do that, click on each account and check the detailed information for the most recently reported balances. See how they match up to what you expect. It's possible that something hasn't reported yet. Or it's possible that something is actually wrong.

 

Just to cover all angles, is it possible that you recently did a balance transfer? When there's a balance transfer, it's possible that the transferred amount can show up on both the donor and recipient cards for a brief period of time until all of the bookkeeping catches up.

Established Member
Posts: 20
Registered: ‎06-06-2017
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Re: Revolving Utilization

I think I found the problem. I was a victim of identity theft by an employee discovered 5 years ago. All banks and all 3 CB's were sent police report and explanation letter. It took 4 years to get Wells Fargo to agree it was fraud and to charge off the $20k owedon my personal . My Wells Fargo personal cc ended up being charged off for $20k. It has now reappeared on my report. Just spoke to Wells representative in the fraud department who told me after further review it was again being reported and wont come off my report for another year! I will start my appeal again. Not sure what else I can do to besides a police report and arrest record although he was not convicted due to statute of limitations expiration. interestingly my local Wells branch still has this guys phone number and email as the contact on my account. Any advice on what else I can do? 

Valued Contributor
Posts: 2,427
Registered: ‎03-28-2017
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Re: Revolving Utilization

What have the CRAs said to a written dispute on fraudulent accounts that you have police reports confirming?

FICO8 3/17 550EX, 570TU, 559EQ
FICO8 10/17 710EX, 693TU, 717EQ -- almost 700 club!
Gardening since Aug 7, 17
Established Member
Posts: 20
Registered: ‎06-06-2017
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Re: Revolving Utilization

Mainly dealng with TU now. I filed 4 disputes with them and EX Eq. TU guy told me that the creditor is responsible for what is reported. I have notes on the credit report stating fraud and diagreement with the creditor. I have escalated to Wells Fargo Executive Services through my local branch. I have had a 40 year relationship with Wells with multi million loans all paid on time and that doesnt seem to make a difference because all the different services have there own silo.

 

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Epic Contributor
Posts: 29,715
Registered: ‎03-19-2007

Re: Revolving Utilization

[ Edited ]

If you submit a police report to the CRA, the information asserted to have resulted from fraud/identity theft must be blocked from your credit report under the requriments of FCRA 605B.  No agreement of the creditor is required.  The fact that the creditor disagrees is thus irrrelevant, as only the CRA is involved, and they must block if you comply with all of the requirements of section 605B.

 

The identity theft process does NOT involve a dispute.  It is specifically designed as an alternate to the FCRA disute process by excluding any verification by the furnisher of the identity theft-related information, as is part of the FCRA dispute process.

 

If you previously sent the CRA a police report, did the CRA then make a finding of block of the information pursuant to section 605B?

You apparently have a complaint against the CRA for lack of compliance with the FCRA identity theft process........

Established Member
Posts: 20
Registered: ‎06-06-2017
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Re: Revolving Utilization

RobertEG, Thanks I didnt know about section 605B. TU keeps handling as a dispute and sending to Wells and B of A who respond back that charges are valid . Should I contact some other department at TU tand mention 605b? Interestingly my former employee's phone number is listed on my cr. Thanks for any advice.

Community Leader
Epic Contributor
Posts: 29,715
Registered: ‎03-19-2007
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Re: Revolving Utilization

A very detailed discussion of use of the FCRA identity theft process (FCRA 605B) is provided here in the forum under a sticky-thread at the top of the General Credit Topics forum section.  It is titled "Victim of Identity Theft?..."

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