topic Re: Question about AMEX app, Experian scoring, reporting in Credit Cards

Question about AMEX app, Experian scoring, reporting

Anonymous — Sat, 18 Oct 2014 16:27:13 GMT

So I have a bit of an odd situation. I got the results of a dispute concerning previous late payments on a bunch of student loan accounts Thursday night/early Friday morning. The dispute results said that some accounts were deleted, and many individual late payments were updated/removed from my report (due to actually being in deferrment). I got this message for all three bureaus. However, the student loan service/company (Fedloan Services/US Dept of Ed) didn't actually delete them as the results said they did. I called Equifax yesterday to see why they were still reporting all these lates, asking how they can say they would be deleted, but they're not. So, in the end, I had to reinvestigate, again, this time specifically requesting to remove these individual late payments, so today I got a 53 point drop in my Equifax score according to myFICO. Which I presume will jump again as the disputed items are factored in (or out, whatever).

However, I don't know for sure if this score drop has also updated with Experian. I checked my score on 10/16, which is the day I got the notice from Experian about the dispute results, and the Experian FICO score hasn't changed since then, still shows as based on 10/16/2014 data, and still 667, (and actually hasn't calculated an updated/lowered utilization %).

So, my question is, should I app for one of the AMEX cards as I was going to anyway, not knowing exactly WHAT the report will show as of today? I do have other positive factors that would help me, such as high income, very little debt beside student loans, no car payment, low utiliation, etc?

What do you all suggest? These lates really SHOULD be off my reports.

Re: Question about AMEX app, Experian scoring, reporting

Anonymous — Sat, 18 Oct 2014 22:29:53 GMT

Do you need the card immediately? If not, I can't imagine risking a denial and having to wait an additional 30 days to reapply (AMEX's policy on applications). It seems like waiting would be the more reasonable thing to do, but I don't know what your situation is. I'm not trying to talk down to you, it just seems like it makes the most sense. What other tradelines do you have and how long have you had them?

Re: Question about AMEX app, Experian scoring, reporting

09Lexie — Sat, 18 Oct 2014 22:21:41 GMT

@Anonymous wrote:
So I have a bit of an odd situation. I got the results of a dispute concerning previous late payments on a bunch of student loan accounts Thursday night/early Friday morning. The dispute results said that some accounts were deleted, and many individual late payments were updated/removed from my report (due to actually being in deferrment). I got this message for all three bureaus. However, the student loan service/company (Fedloan Services/US Dept of Ed) didn't actually delete them as the results said they did. I called Equifax yesterday to see why they were still reporting all these lates, asking how they can say they would be deleted, but they're not. So, in the end, I had to reinvestigate, again, this time specifically requesting to remove these individual late payments, so today I got a 53 point drop in my Equifax score according to myFICO. Which I presume will jump again as the disputed items are factored in (or out, whatever).

However, I don't know for sure if this score drop has also updated with Experian. I checked my score on 10/16, which is the day I got the notice from Experian about the dispute results, and the Experian FICO score hasn't changed since then, still shows as based on 10/16/2014 data, and still 667, (and actually hasn't calculated an updated/lowered utilization %).

So, my question is, should I app for one of the AMEX cards as I was going to anyway, not knowing exactly WHAT the report will show as of today? I do have other positive factors that would help me, such as high income, very little debt beside student loans, no car payment, low utiliation, etc?

What do you all suggest? These lates really SHOULD be off my reports.

I would suggest waiting until you have confirmed your CRs were updated.

Further questions regarding disputes and reporting should be posted in our Rebuilding Forum.

Re: Question about AMEX app, Experian scoring, reporting

Anonymous — Sat, 18 Oct 2014 22:27:34 GMT

@Anonymous wrote:
Do you need the card immediately? If not, I can't imagine risking a denial and having to wait an additional 30 days to reply (AMEX's policy on applications). It seems like waiting would be the more reasonable thing to do, but I don't know what your situation is. I'm not trying to talk down to you, it just seems like it makes the most sense. What other tradelines do you have and how long have you had them?

I'm guessing they want to lock in a MSD of 14.

Re: Question about AMEX app, Experian scoring, reporting

AvadaKedavra — Sat, 18 Oct 2014 22:29:59 GMT

How old are those lates? I was in a similar situation with FedLoan. With lates from Oct 2010-Jan2011 (60/90/120/150 days) on my Student Loan. When I applied for AMEX those lates were still there but "currently being investigated" as per my dispute. It was the only baddie on my CR and my EX score was 674. I was approved for both the PRG and ED back in August.

Since then, results of the dispute came in and all it said was my CRs have been updated. On all my CRs under the note it says "ITEM DISPUTED BY CONSUMER
Account information disputed by consumer (Meets requirement of the Fair Credit Reporting Act)." It's still there but after that dispute all my scores raised to around where they're at now...so yeah...YMMV

Little backstory...I disputed because my loans came out of deferrment at the time and I wasn't notified by phone and they didn't have my updated address. So I never knew until finally I checked an email account that I no longer used and in spam at that.....bad luck...

Re: Question about AMEX app, Experian scoring, reporting

09Lexie — Sat, 18 Oct 2014 22:30:07 GMT

OP posted their approval

http://ficoforums.myfico.com/t5/Credit-Card-App-Approvals/AMEX-PRG-and-BCE-approval-today/td-p/3544319

Re: Question about AMEX app, Experian scoring, reporting

Anonymous — Sat, 18 Oct 2014 22:32:18 GMT

@09Lexie wrote:
OP posted their approval

http://ficoforums.myfico.com/t5/Credit-Card-App-Approvals/AMEX-PRG-and-BCE-approval-today/td-p/3544319

Congrats to the OP.

Re: Question about AMEX app, Experian scoring, reporting

Anonymous — Mon, 03 Nov 2014 20:48:10 GMT

Yeah, thank you for all the feedback, and posting the link. I hadn't seen the responses, previously, my apologies folks, wasn't ignoring.

I'm still waiting for more update on the disputed items, but sounds very similar to the other poster above-I never received any communication that they had come out of deferrment. I had just assumed that they were still in deferrment due to being in school, and then the 6 months they give you afterwords. They had an address that was completely out of date. Had moved a couple times in the years since I lived there. And some telephone number that wasn't mine at all, from a city I never lived.