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One CRA could care less what the others are reporting. Luckily you have already slain the beast (EX).
Jen916 wrote:
First, I have learned so much on this forum, I have improved my score immensly. One thing, I disputed many inccorect entries on my report and Trans Union very quickly removed them as did Experian, but Equifax has not....should I send a copy of Trans Unions letter of deletion to them, will that help?It's crazy that there are 3 totally different entities to battle with!!Thanks very much.
wonderer wrote:
Thanks! As the first post read after registering i was concerned this would be a waste of my money, but i see i was wrong. Thanks for all the great new info:
@haulingthescoreup wrote:Thanks, Fused! USAA said that they report them as a mortgage loan, but that the CRA's don't always post it that way. Can't wait to see what this will do to the scores (snort).
@fused111 wrote:HELOCs almost always report as revolving...be responsible with this line just as you would with a CC. Another option is to ask your lender to report it as an installment...no guarantee they will agree though.
I'm gonna guess that EQ shows mortgage, EX shows revolving, and TU is unknown
@haulingthescoreup wrote:
@haulingthescoreup wrote:Thanks, Fused! USAA said that they report them as a mortgage loan, but that the CRA's don't always post it that way. Can't wait to see what this will do to the scores (snort).
@fused111 wrote:HELOCs almost always report as revolving...be responsible with this line just as you would with a CC. Another option is to ask your lender to report it as an installment...no guarantee they will agree though.
Sure enough, all three bureaus now have the HELOC. One has it as a mortgage, one as an "account in which the exact category is unknown," and one as revolving. The revolving also shows highest balance as $50K (the value of the line of credit), even though I've only used $3060.
Any guesses as to which CRA used which category?
Sorry, lost track of this thread. Actually, it worked out that EX has it as a mortgage, TU has it as unknown, and EQ, which hates me anyway, has it as revolving.
@Anonymous wrote:Sure enough, all three bureaus now have the HELOC. One has it as a mortgage, one as an "account in which the exact category is unknown," and one as revolving. The revolving also shows highest balance as $50K (the value of the line of credit), even though I've only used $3060. Any guesses as to which CRA used which category?I'm gonna guess that EQ shows mortgage, EX shows revolving, and TU is unknown