topic Re: DELL Refuses to report to Credit Bureau in General Credit Topics

DELL Refuses to report to Credit Bureau

Anonymous — Tue, 08 Mar 2011 18:25:32 GMT

I have an installment account with DELL for 2 years and all my payments on this account are perfect. Unfortunately DELL told me today they do not report accounts in good standing, only negatives ... WOW!

Is a company legally allowed to do this?

on a side note...

I called DELL yesterday the good folks over in India told me I could get my account reported to my Credit Bureau no problem, she even went as far as saying it would take me 35 - 45 days.

Its really insteresting how today I spoke to a DELL call-center in the Philipines and was told my account wont be reported, while yesterday i was connected to a DELL call-center in India and was told a completely oposite story.

,..

Re: DELL Refuses to report to Credit Bureau

chasmith — Tue, 08 Mar 2011 18:28:18 GMT

There's no requirement for a creditor to report, or prohibition on reporting negatives if they won't report positives. Utilities are famous for this.

Is this really DELL or a finance company that they use to finance your debt?

Re: DELL Refuses to report to Credit Bureau

Anonymous — Tue, 08 Mar 2011 18:34:20 GMT

@chasmith wrote:
There's no requirement for a creditor to report, or prohibition on reporting negatives if they won't report positives. Utilities are famous for this.

Is this really DELL or a finance company that they use to finance your debt?

Its DELL Financial Services (DFS) and while speaking to the lady on the phone she started sounding like she wanted to push apart the relationship between DELL Financial Services and DELL Computers. As long as it says DELL to me its the same company, aint that the way its supposed to be?

Re: DELL Refuses to report to Credit Bureau

chasmith — Tue, 08 Mar 2011 20:37:47 GMT

It's captive finance, sort of like the way Citibank issues Exxon credit cards, some finance company is actually providing the DFS service.

Re: DELL Refuses to report to Credit Bureau

JayRizzo — Wed, 09 Mar 2011 03:09:54 GMT

DELL not reporting is very well-known throughout the forums. A quick search of DELL in the search field just below the Community tab reveals many others with the same issue. Sorry that you only heard about it recently from DELL.

Re: DELL Refuses to report to Credit Bureau

kjm79 — Wed, 09 Mar 2011 23:52:08 GMT

Dell reports to all 3 CRA's on my reports. It's listed as WEB Bank/DFS, Dell Financial Services, CIT Bank/DFS, and Dell Computer/WebBank depending on which report I'm looking at. But it has correctly reported balances and limit on all 3 since I opened the acct. I suppose it depend on if your financing with the REAL Dell and not a third-party finance company???

Re: DELL Refuses to report to Credit Bureau

Anonymous — Mon, 28 Nov 2011 19:49:22 GMT

hello,

I have been having the same problem with Dell... I created a petition campaign on thepoint to make it law for these companies to report the good and the bad.

Please sign the petition today so we can reach our goal of 100,000 signatures... it only takes a minute.

edited to remove a link

Make it law for companies to report the good accounts not just the bad to the Credit Bureaus.

If we reach at least 100,000 people,then We pledge to take signed petitions to the Washington House and Senate to gain a ballot initiative.

Are you tired of companies such as Dell Financial Services (DFS), other lending companies, Sprint, AT&T, Verizon, Public utilities, Medical being able to only report when a person has defaulted to the Credit Bureaus?

Pledge to sign a petition to be submitted to the house and senate for any company that wishes to report a negative item to the credit bureaus, to require them to report the good for every month up to and after the infraction.

It is not okay that these companies are allowed to destroy your credit without ever doing anything to give you positive credit beforehand.

As it stands it doesn’t matter if you have years and years of paying your bills on time, just one or two negative items from such companies will prevent you from buying a house or getting a good interest rate on your vehicle, or get a lower insurance premium.

Re: DELL Refuses to report to Credit Bureau

Anonymous — Mon, 28 Nov 2011 19:12:31 GMT

P.S. I am not a spammer so please dont can my post, I know its my first one, but I found this thread after being furios with Dell Financial services and googleing last night, which is why I started the petition and posted it here for others that might be interested.

Re: DELL Refuses to report to Credit Bureau

llecs — Mon, 28 Nov 2011 19:58:13 GMT

Hi smajor...no canning, but I did have to remove the link. We have a policy of disallowing links such as petitions. However, I sense your frustration and feel free to mention (without directing in an overt way) to bug Dell and others if they too feel wronged by them or to contact their political rep if they want more in the way of changes in the law, etc.

Mod hat off for a sec...I pray they don't report the positive history for those accounts that normally don't report. Many of our credit would be trashed no only due to unreported lates but also damaged in the way of impacting our average age of accounts. If Verizon, Dominion VA Power, ADT, and my water bill suddenly reported, especially after just moving, I'm sunk. BTW, FICO really doesn't reward you for paying on time, but will certainly ding you if late. It will give you credit for the length of history which would report anyway if you default. In other words, the only thing that would report outside of any baddie reporting is the length of history anyway, and that's the only thing that helps.

Re: DELL Refuses to report to Credit Bureau

Anonymous — Mon, 28 Nov 2011 21:04:12 GMT

Fair enough,

Lets say you have an account with Dell and a credit limit of $15,000 and maintain a 30% balance... this helps your credit score and can lead to better interest rates on car insurance, home ownership, car purchases.

But if these companies are allowed to only report when you have a negative item, they are essentially not doing anything to help you establish credit and should not be allowed to only destroy your credit.

Re: DELL Refuses to report to Credit Bureau

Anonymous — Mon, 28 Nov 2011 21:09:45 GMT

and in regards to utility style bills, length of accounts does play a role... but lets say you have been living at a location for 6 years with no late payments or you have had a cellphone with Sprint for 8 years, the length of accounts in good standing would definitely be a benefit to a lenders decision even if you were to move or switch cellphone providers. The new accounts might sting for a second but any lender could easily see that your history is well taken care of.

Re: DELL Refuses to report to Credit Bureau

llecs — Mon, 28 Nov 2011 22:10:23 GMT

I can see a scenario where an old utility, let's say 10 years old with a perfect on-time history could help if your AAoA is under 10 years (AAoA is big scoring component and is the avg. age of all of your good, bad, opened, or closed OC accounts like CCs, loans, etc.). A 30% balance on Dell would be score damaging for many on here because the util is too high, but an old, paid off Dell that still reports as opened and is active would help most.

But should the government mandate that these traditionally non-reporting account report? And how far would it go? Cell phones? Utilities? Rent? If I loan money to someone, should that report too? How far is too far? There's an added cost for these items to report. The consumer would have to pay for it as a cost to do business by the one reporting. Would you mind paying extra to have an account like this report? Certainly a YMMV answer if others were polled on here. Also, when it reports, it would report on a fixed schedule on the statement date. When it reports, it would report with a balance because the balance is generated when the statement cuts. In FICO-speak, that's not a good thing because you are adding an account with a balance and you can incur a score hit (assuming FICO would to score it fully). Would it be worth it to PIF 30 days prior to the next due date to avoid a balance on the statement?

FWIW, I think Dell reports. Or maybe I should mention that they did report. They reported my biz account on DnB and Experian biz. I know they went through some issues with CIT. But if your Dell reports, they report an Open Date. FICO ignores the on-time payments, but will take that open date into consideration for your history which can help or hurt you depending on the age of the Dell account in relation to your AAoA. Of course any negative history would likely offset much or even more than that length of history. Depends on what reports and how it reports. So even if Dell showed a positive history from years back, you wouldn't see any score improvement. In the eyes of lenders, they too would zero in on the baddies vs. looking at the positive years. And some utilities do report. IIRC, one of the Edison utilities out there reports monthly. PG&E, I think, reports monthly (or somewhere out there). And some rental agencies report monthly now to EX via their program.

Re: DELL Refuses to report to Credit Bureau

beb86 — Tue, 29 Nov 2011 17:52:54 GMT

i think your missing the point a bit.....bills like rent, utilities, daycare, cellphone, etc, are payments for a service or a good whereas credit is some enity extending credit to you with the promise of repayment. if your bills are not paid and go into collections this is where it enters the realm of credit. creditors can look at your risk, history, and income before issuing anytype of credit, product, or service and if you are considered a risk this will require a down payment.

Re: DELL Refuses to report to Credit Bureau

Anonymous — Wed, 30 Nov 2011 00:21:21 GMT

My Dell account seems to be reported fine... waiting for one last payment to pay it off and probably wont use it anymore due to the 30% apr anyways

Re: DELL Refuses to report to Credit Bureau

Anonymous — Wed, 30 Nov 2011 00:27:14 GMT

@Anonymous wrote:
Fair enough,

Lets say you have an account with Dell and a credit limit of $15,000 and maintain a 30% balance... this helps your credit score and can lead to better interest rates on car insurance, home ownership, car purchases.

But if these companies are allowed to only report when you have a negative item, they are essentially not doing anything to help you establish credit and should not be allowed to only destroy your credit.

Another way to look at this is that you are more-or-less allowed to keep a high util without it affecting your credit score.

Also, DFN wouldn't be the one "destroying" your credit; YOU would be the one responsible for destroying your credit. You should be paying on time because it's the right thing to do, not because you want to prevent your credit score from going down.

Re: DELL Refuses to report to Credit Bureau

Anonymous — Wed, 30 Nov 2011 00:33:40 GMT

@beb86 wrote:
i think your missing the point a bit.....bills like rent, utilities, daycare, cellphone, etc, are payments for a service or a good whereas credit is some enity extending credit to you with the promise of repayment. if your bills are not paid and go into collections this is where it enters the realm of credit. creditors can look at your risk, history, and income before issuing anytype of credit, product, or service and if you are considered a risk this will require a down payment.

Actually, I think you're (not your. pet peeve, sorry) missing the point. Many monthly bills are exactly the same as a credit card. Your utility company, cell-phone company, etc offer you services with understanding that you will pay them each month. The same is true for renting/leasing. What happens when you pay a credit card late? The same thing that happens when you pay any other bill late -- a late fee and possibly interest. What happens when you don't pay your credit card for several months? The CCC will likely close your account. What happens when you don't pay rent for several months? You get evicted.

Just because utility, phone, and leasing companies aren't extending monetary credit to you, they are letting you use their services/property.

Re: DELL Refuses to report to Credit Bureau

Booner72 — Thu, 01 Dec 2011 01:15:05 GMT

@Anonymous wrote:
I have an installment account with DELL for 2 years and all my payments on this account are perfect. Unfortunately DELL told me today they do not report accounts in good standing, only negatives ... WOW!

Is a company legally allowed to do this?

on a side note...

I called DELL yesterday the good folks over in India told me I could get my account reported to my Credit Bureau no problem, she even went as far as saying it would take me 35 - 45 days.

Its really insteresting how today I spoke to a DELL call-center in the Philipines and was told my account wont be reported, while yesterday i was connected to a DELL call-center in India and was told a completely oposite story.

,..

How frustrating.

I'd like to let you know I LOVE DELL. Wanna know why? They are reporting an account that I have NO MEMORY of ever applying for in 2007. I allegedly had an account w/ a 1500 limit and I apparently "paid as agreed", though it was eventually "Closed by credit grantor" in 2009. There were never any charges (which is probably why they closed me out). This is a clear and total fraudulant tradeline. Neither myself OR DH ever used this. I'm going to enjoy watching it age nicely along til 2019.

Whatever, Dell. Thanks for helping my credit score! And thanks for NOT helping liberty 603, who, we all know, IS a real and true Dell customer! That's a great way to run your business and get good word of mouth business.

Re: DELL Refuses to report to Credit Bureau

Booner72 — Thu, 01 Dec 2011 01:25:31 GMT

@Anonymous wrote:
@Anonymous wrote:
Fair enough,

Lets say you have an account with Dell and a credit limit of $15,000 and maintain a 30% balance... this helps your credit score and can lead to better interest rates on car insurance, home ownership, car purchases.

But if these companies are allowed to only report when you have a negative item, they are essentially not doing anything to help you establish credit and should not be allowed to only destroy your credit.

Another way to look at this is that you are more-or-less allowed to keep a high util without it affecting your credit score.

Also, DFN wouldn't be the one "destroying" your credit; YOU would be the one responsible for destroying your credit. You should be paying on time because it's the right thing to do, not because you want to prevent your credit score from going down.
Didn't we all destroy our credit? Well, most of us. Isn't that why we have this forum? It's so nice to come here to get help and feedback and support. I know I screwed up my credit, but I don't really want anyone here to make me feel bad about it.

Re: DELL Refuses to report to Credit Bureau

Anonymous — Fri, 02 Dec 2011 22:00:04 GMT

Didn't we all destroy our credit? Well, most of us. Isn't that why we have this forum? It's so nice to come here to get help and feedback and support. I know I screwed up my credit, but I don't really want anyone here to make me feel bad about it.

I know that's why I'm here

It's called learning from your mistakes...and I definitely have suceeded in that department!

Re: DELL Refuses to report to Credit Bureau

Anonymous — Sat, 03 Dec 2011 00:29:18 GMT

@Booner72 wrote:
@Anonymous wrote:
@Anonymous wrote:
Fair enough,

Lets say you have an account with Dell and a credit limit of $15,000 and maintain a 30% balance... this helps your credit score and can lead to better interest rates on car insurance, home ownership, car purchases.

But if these companies are allowed to only report when you have a negative item, they are essentially not doing anything to help you establish credit and should not be allowed to only destroy your credit.

Another way to look at this is that you are more-or-less allowed to keep a high util without it affecting your credit score.

Also, DFN wouldn't be the one "destroying" your credit; YOU would be the one responsible for destroying your credit. You should be paying on time because it's the right thing to do, not because you want to prevent your credit score from going down.
Didn't we all destroy our credit? Well, most of us. Isn't that why we have this forum? It's so nice to come here to get help and feedback and support. I know I screwed up my credit, but I don't really want anyone here to make me feel bad about it.

The point I was trying to make was that we are responsible for our own credit. The fact that Dell and other companies will only report negatives does not make them responsible for destroying OUR credit.