Its been almost a year since I started my journey to credit understanding, and six months since I started to truly understand what data makes up the Credit Reports that govern our financial worthiness.
Because I work in IT, and on data every single day - I decided to truly understand the credit reporting file elements (Metro2 Standard File Specs), and how they land in the major CRA's. Part of my journey, is to simply own what is reported about me - and expect it to be complete, lawful and accurate.
Earlier this year, I watched my reports daily for traceable changes and I began to challenge the CRA's with the data I saw in printed, raw and online reporting sites. They varied in accuracy and completness, and when challenged/disputed, they morphed into records that were missing key details and updated with attributes that left them simply orphaned.
When I disputed a line item, this account, BOA - had the payment history removed. That sole action, dropped my score by Vantage score by 84 points (their score that is provided) and by 40 points on FICO, and in a single day. It became clear that this key information, and not just its state - impacted how we are rated and reported. The CRA's denied this, for almost 5 months, before the shadily removed the orphaned account. I expected my scored to rebound, my views online showed payment histories..but when I ordered the printed raw reports directly from them, it was a different story.
I challenge everyone to look at the completeless of a Tradeline/Credit Grantor (Not Debt Collection account as they CANNOT have a payment history). If any required piece of that account/record is missing, especially the pay history, dispute it.
I believe we are accustomed to disputing items on our reports for so many reasons other than its completeness, that we are looking in the wrong bucket of valuable reasons to do so. If you look at your reports - and the pay history is not there and should be because its last pay was withing the 81 monthe reporting windo,-- dispute it and ask that they correct it and not delete it, if it is a positive tradeline.
If you have not used the account for activty, or paid it because the balance is 0 - you may see a simple "NR" for not reported.
If its not positive, challenge it to have it deleted.
Here is what a Incomplete/Complete tradeline looks like at Equifax, note that when I got the printed versions - the pay history that is highlighed does NOT exist.
It did report, until it was disputed last month.
The positive account - was closed in 2012, and within the last 81 month reporting periods.
| xxxxxxxx xxxxxxx xxx
|
And below is an account with Pay History
xxxxxxxxxx
| Account Number: | xxxxxxxxxxxxxxxxx | Status: | PAYS AS AGREED |
| Account Owner: | Individual Account. | High Credit: | xxxxxx |
Type of Account  : | Revolving | Credit Limit: | xxxxxxxx |
| Term Duration: | Terms Frequency: | Monthly (due every month) | |
| Date Opened: | 05/01/2014 | Balance: | xxxxx |
| Date Reported: | 09/30/2015 | Amount Past Due: | |
| Date of Last Payment: | 09/2015 | Actual Payment Amount: | xxxxxxx |
| Scheduled Payment Amount: | Date of Last Activity: | 09/2015 | |
| Date Major Delinquency First Reported: | Months Reviewed: | 16 | |
| Creditor Classification: | Activity Designator: | N/A | |
| Charge Off Amount: | Deferred Payment Start Date: | ||
| Balloon Payment Amount: | Balloon Payment Date: | ||
| Date Closed: | Type of Loan: | Credit Card | |
| Date of First Delinquency: | N/A | ||
| Comments: |
81-Month Payment History
| Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
| 2015 | * | * | * | * | * | * | * | * | ||||
| 2014 | * | * | * | * | * | * | * | * |