topic Re: Disputing errors in Credit Cards

Disputing errors

BearsAndTurtlesRtheBest — Mon, 29 Oct 2012 04:11:35 GMT

I removed my daugter from my Chevron Visa and Wells Fargo Visa because they are close to limit and didnt want it to affect her credit well they are still reporting and I removed her from the accounts in the beginnings of October 2012. should she go ahead and dispute them anyway or just wait till they get removed by themselves?

Re: Disputing errors

distantarray — Mon, 29 Oct 2012 04:34:28 GMT

@BearsAndTurtlesRtheBest wrote:
I removed my daugter from my Chevron Visa and Wells Fargo Visa because they are close to limit and didnt want it to affect her credit well they are still reporting and I removed her from the accounts in the beginnings of October 2012. should she go ahead and dispute them anyway or just wait till they get removed by themselves?

it takes time but depending on how old the account and the limits is it could hurt her credit scores more by removing them.

if her credit scores are good she can get good cards with good limits which can offset some lower limit high utilization cards. Like if her credit score is good she can get a nice Amex with generous credit limit increases etc.

So few questions.

How old are your account, how new is she to credit, and her current credit limits would give a general idea if this is even worth it.

Experian has a policy that it will only remove Authorized users if it damages their reports and can be hard, although companies like CFPB can help remove it if they won't. Dispute it with ALL CRA's stating that it's a Authorized user account and since she's not liable for the debt she would like to request it off, if they refuse to delete it file a complaint to CFPB.

Re: Disputing errors

BearsAndTurtlesRtheBest — Mon, 29 Oct 2012 04:38:36 GMT

My Chevron Visa and Wells Fargo were opened 2012 Chevron in January and Wells Fargo in April.

She got her first credit card in Febuary 2012 shes 18 yrs old

Re: Disputing errors

BearsAndTurtlesRtheBest — Mon, 29 Oct 2012 04:40:22 GMT

she has American Eagle GE with $900 Old Navy $800 Chevron $900 and Sport Chalet VISA (JOINT) with $3,000

Re: Disputing errors

distantarray — Mon, 29 Oct 2012 04:42:02 GMT

@BearsAndTurtlesRtheBest wrote:
she has American Eagle GE with $900 Old Navy $800 Chevron $900 and Sport Chalet VISA (JOINT) with $3,000

So total of $5600 in avaliable balances and how much are you using on your cards that are closed to maxed?

Re: Disputing errors

BearsAndTurtlesRtheBest — Mon, 29 Oct 2012 04:47:58 GMT

Chevon CL $2,250 Curent balance $1,500 Wells Fargo CL $2,500 Current balance $2,400

Re: Disputing errors

distantarray — Mon, 29 Oct 2012 04:51:37 GMT

@BearsAndTurtlesRtheBest wrote:
Chevon CL $2,250 Curent balance $1,500 Wells Fargo CL $2,500 Current balance $2,400

So total of $5600 + 2250 + 2500 = $10350 total credit limits and is does she have balances on the other cards?

So if not she'll be at $3,900 / $10350 debt to credit ratio

Honestly that's not too bad at 37% personally I think they're doing more good than harm unless she's going to be on the market for a car or house in the near future, the best thing you can do for her is to pay off your cards as soon as possible.

Re: Disputing errors

BearsAndTurtlesRtheBest — Mon, 29 Oct 2012 04:54:48 GMT

Okay But Like I mentioned at first I already removed her in the beginnings of October, She has been removed and are just waiting to fall off report

Re: Disputing errors

distantarray — Mon, 29 Oct 2012 05:12:52 GMT

@BearsAndTurtlesRtheBest wrote:
Okay But Like I mentioned at first I already removed her in the beginnings of October, She has been removed and are just waiting to fall off report

that's fine, but remember like I said just dispute it with the CRA but only after it's been removed or sticks on. Experian probably won't delete, not sure about Equifax they're iffy. But Transunion is very good with removing things upon request (things in good standing)

If it doesn't fall off then dispute with CFPB and they'll remove it.

Re: Disputing errors

BearsAndTurtlesRtheBest — Mon, 29 Oct 2012 05:18:05 GMT

whats CFPB? :/

Re: Disputing errors

llecs — Mon, 29 Oct 2012 05:36:02 GMT

OP, it'll drop. Give it a few days through the next statement date.

Re: Disputing errors

distantarray — Mon, 29 Oct 2012 05:56:16 GMT

@BearsAndTurtlesRtheBest wrote:
whats CFPB? :/

http://www.consumerfinance.gov/

Consumer Finance Protection Bureau. Your lucky cause it just went into affect Sept 30th 2013. This company helps credit repair A LOT, I WISH this was around when I repaired my credit.... my last bad item was deleted in July this year.