Understanding FICO® Scoring

[Scooter64]

I need some advice, when pulling my credit reports I have a big range in scores, TU695, EQ747,EX725. When reviewing each column I notice a lot of my good history does not show up in all 3 reports. When contacting the individual companies and asking them to notify the other credit agencies that all say that they are supposed to share that info, but if I where to get whatever from the agencies that don't show the info they will be glad to help. At this time I've sent a letter to all 3 agencies asking what to do. Does anyone have input on this?

[jbh]

What type of accounts did you hope would update? I know utilities (and it seems even cell phones) don't update.

[Scooter64]

It was two bank loans and both where greater than 6 figures long term debt.

[debtisgood]

You should call the banks and ask if they report to the 3 major credit bureaus.

[Scooter64]

Did that, they are the ones who told me they only report to one but that they are to share there info. Not helping me a lot with that perspective, but there legal obligation to me is to file with only at least one of the three. I've sent my letters to the credit bureaus, but does any one know what happens from here?

[cheddar]

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Scooter64 wrote:

Did that, they are the ones who told me they only report to one but that they are to share there info. Not helping me a lot with that perspective, but there legal obligation to me is to file with only at least one of the three. I've sent my letters to the credit bureaus, but does any one know what happens from here?

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The people at the bank are mistaken.  The CRAs do not share information when it comes to reported tradelines.  If the bank is only reporting to one CRA, that's the only report that will show the account.

Also, they have no legal obligation to report at all.  Not even to one of the three.  Their only legal obligation is that if they do report, they must report accurately.

Message Edited by cheddar on 07-29-2008 11:18 PM

[RobertEG]

Scooter,I share your pain, but as Cheddar as stated. there are no requrements that

1. any creditor has to report to any CRA.  If they report to one, they dont have to reprot to 2 or 3.

2  that the CRAs share reported data.  The three CRAs are competitive busniesses, and DONT report any info between them.  PERIOD!!!!!!!

Businesses that you have talked to OBVIOUSLY dont know jack about credit reportng.  The three CRAs DO NOT share data.

Does GM give its business plans to Ford or Chrysler?

I kinda doubt it.