topic Re: TU reporting wrong. CFPB complaint? in General Credit Topics

TU reporting wrong. CFPB complaint?

I-think-I-can — Fri, 19 Feb 2016 00:15:12 GMT

Hi everyone, sorry for the long post. Off and on for the greater part of a year I have experienced strange fluctuations in my TU score. I would get a random alert that my score had changed, often times with no information accompanying it. Worried that something was amiss with my report I would purchase a fresh TU report from myFico to find that my score was still "high" and nothing new/negative was showing. I cannot tell you how many times I repeated this process last year.

Hopeful that the issue was resolved, I purchased a new 3B report on FEB 4th. Sure enough, on FEB 9th I got an alert that my balances had changed, logged in and my score had dropped 100 points (756 to 656). It has nothing to do with balances as my previous "retail trades" alert from 12/27/15 showed a balance of 1679 and the new alert had a lower balance of 739. If anything I should have either gained points or stayed the same, but NOT dropped 100 pts. Below are examples of the erratic scoring from last year before my report was entirely clean. It was clean as of December so there should be nothing derogatory listed on my factors. I have also included images of my score from Discover and the last alert drop.

I am wondering if I should file a complaint with the CFPB because the lower score and derogatory factors are being sent to my creditors ( Discover, Barclay, and Synchrony). Discover has denied my cli requests on the basis of the incorrect score and factors and it is super frustrating. I have put great effort into rebuilding my credit and to finally get a clean report to only have it shared as "dirty" is just ridiculous to me.

Re: TU reporting wrong. CFPB complaint?

manyquestions — Fri, 19 Feb 2016 01:11:26 GMT

So all you have on your credit reports right now are those three open credit cards? Anything else? What are your credit limits and balances on the "higher score" reports vs. the "lower score" reports? How long ago did you open the cards? Are there any other comments listed on your MyFico reports?

Re: TU reporting wrong. CFPB complaint?

Anonymous — Fri, 19 Feb 2016 01:23:02 GMT

You aren't alone. I stopped worrying about it several months ago since every time I've apped with a TU puller the correct score comes up.

Re: TU reporting wrong. CFPB complaint?

I-think-I-can — Fri, 19 Feb 2016 01:41:53 GMT

@manyquestions wrote:
So all you have on your credit reports right now are those three open credit cards? Anything else? What are your credit limits and balances on the "higher score" reports vs. the "lower score" reports? How long ago did you open the cards? Are there any other comments listed on your MyFico reports

Hi there..no, I have many other credit card accounts both open and closed on my report...and also installment loans( all closed). ALL positive, no negatives anywhere. Barclay, Synchrony, and Discover all provide Fico scores and use them for account management (credit limit increases, etc. ) so that is why I specifically mentioned them. I have about 83K in credit, an AAoA of 4.5 years, and current utilization hovering at about 8%.

I can't pull a report with the lower score information because it does not exist. Every time I pull a new report my higher score is reflected. There seems to be a disconnect /faulty reporting on Transunion's side of the equation. I have tried to work directly with TU, but each time they pull up my report they see that it is clean....if it is clean, there is technically nothing to dispute so therefore they are unable to help me. Below are factors from the Discover score , as well as the wording and score from my last 3b pull....

Re: TU reporting wrong. CFPB complaint?

I-think-I-can — Fri, 19 Feb 2016 01:46:55 GMT

@Anonymous wrote:
You aren't alone. I stopped worrying about it several months ago since every time I've apped with a TU puller the correct score comes up.

Yeah...I know you were also on the fantastic roller coaster ride right along with me. I am just so frustrated because Discover is denying my credit limit increases due to the faulty reporting. They cite the low score and nasty factors with every denial. It is simply NOT FAIR (arms crossed, mouth poked out, and foot tapping) LOL.

Re: TU reporting wrong. CFPB complaint?

Anonymous — Fri, 19 Feb 2016 01:50:08 GMT

I've thought about calling Discover customer service just to see if they might have any ideas about what is going on. I have the same issue with Barclays. But every other source, and every other pull comes up clean with the correct score.

Re: TU reporting wrong. CFPB complaint?

RobertEG — Fri, 19 Feb 2016 02:01:20 GMT

The FCRA permits you to dispute inaccuracies in your credit file, but not credit scoring that is generated from your credit file information.

You can, if a dispute is decided in your favor, require the CRA to provide notice of the correction to any party to which they have provided a credit report within the past two years, but again, that is limited to information in your credit report, and not your score.

The FCRA advises consumers with questions/complaints over credit scoring to contact the developer of the score.

The FCRA, and accordingly administration therof by the CFPB, does not regulate or review credit scoring.

Re: TU reporting wrong. CFPB complaint?

I-think-I-can — Fri, 19 Feb 2016 02:18:31 GMT

@Anonymous wrote:
I've thought about calling Discover customer service just to see if they might have any ideas about what is going on. I have the same issue with Barclays. But every other source, and every other pull comes up clean with the correct score.

I have spoken with Discover twice this week, first time via live chat, second time by secure message, and they aren't able to help me either. Talk about frustrating! I am sure I can apply for something new and have a great chance of approval, but as for the growth on my current accounts that use TU for account management, I am totally up a stinky creek wth no paddle in sight

Re: TU reporting wrong. CFPB complaint?

I-think-I-can — Fri, 19 Feb 2016 02:24:11 GMT

@RobertEG wrote:
The FCRA permits you to dispute inaccuracies in your credit file, but not credit scoring that is generated from your credit file information.
You can, if a dispute is decided in your favor, require the CRA to provide notice of the correction to any party to which they have provided a credit report within the past two years, but again, that is limited to information in your credit report, and not your score.

The FCRA advises consumers with questions/complaints over credit scoring to contact the developer of the score.
The FCRA, and accordingly administration therof by the CFPB, does not regulate or review credit scoring.

Wow...it is not looking good for me! I am not sure who is exactly to "blame" for it....is it TU sending out junky information? Is it just some weird glitch that is pulling up way old report information,generating the score, and providing it to my creditors ? I don't see it being a failure in the FICO scoring system because if it was , it would affect more than just a few people...it must be something else., but what?!!?

Re: TU reporting wrong. CFPB complaint?

Anonymous — Fri, 19 Feb 2016 02:31:50 GMT

My theory is that TU is dishing up a cached, (old), report on some soft pulls. I have no idea, though, why it only happens with Discover and Barclays. Other soft pulls - and hard pulls - come up fine. For example, I like to test the waters with the various web based lenders who use soft pulls and it always come up correctly. My last check with Avant came up with 819 and at the time Discover had 742.

Re: TU reporting wrong. CFPB complaint?

I-think-I-can — Fri, 19 Feb 2016 02:43:22 GMT

@Anonymous wrote:
My theory is that TU is dishing up a cached, (old), report on some soft pulls. I have no idea, though, why it only happens with Discover and Barclays. Other soft pulls - and hard pulls - come up fine. For example, I like to test the waters with the various web based lenders who use soft pulls and it always come up correctly. My last check with Avant came up with 819 and at the time Discover had 742.

The funny thing for me is, originally Barclays and Discover were matching my myFICO scores but Synchrony never did. I thought it was just a fluke with them but then Discover started flaking out, followed by Barclays...and now none of them are correct

I wish to goodness I could figure it out. I can be quite" Vulcan-like" in my quest for logic, lol....and this being SOOO illogical is simply not working well for me. Mayhap this thread will help someone else who is struggling with the issue....and maybe together we can all get to the bottom of it!

Re: TU reporting wrong. CFPB complaint?

RobertEG — Fri, 19 Feb 2016 08:03:27 GMT

In view of the proprietary nature of credit scores and in compliance with federal trade secret laws, you cannot compel any disclosue of credit scoring information.

"FCRA 609. Disclosures to consumers

(a) Information on file; sources; report recipients. Every consumer reporting agency shall, upon request, and subject to 610(a)(1) [§ 1681h], clearly and accurately disclose to the consumer:

(1) All information in the consumer’s file at the time of the request except that--

(B) nothing in this paragraph shall be construed to require a consumer reporting agency to disclose to a consumer any information concerning credit scores or any other risk scores or predictors relating to the consumer."

Re: TU reporting wrong. CFPB complaint?

takeshi74 — Fri, 19 Feb 2016 13:18:16 GMT

I'd suggest finding a service that offers daily TU pulls so you can see what's going on with your TU report if you want to determine the cause(s). That will allow you to at least determine if it is the report data from TU. You definitely cannot rely on myFICO alerts and updates alone to determine the causes of scoring changes.

Re: TU reporting wrong. CFPB complaint?

I-think-I-can — Fri, 19 Feb 2016 13:53:24 GMT

@RobertEG wrote:

In view of the proprietary nature of credit scores and in compliance with federal trade secret laws, you cannot compel any disclosue of credit scoring information.

"FCRA 609. Disclosures to consumers

(a) Information on file; sources; report recipients. Every consumer reporting agency shall, upon request, and subject to 610(a)(1) [§ 1681h], clearly and accurately disclose to the consumer:

(1) All information in the consumer’s file at the time of the request except that--

(B) nothing in this paragraph shall be construed to require a consumer reporting agency to disclose to a consumer any information concerning credit scores or any other risk scores or predictors relating to the consumer."

Thank you for the information...it sounds like this will be impossible to correct because my report is clean.... if I am reading correctly It really isn't fair though.....lol

Re: TU reporting wrong. CFPB complaint?

I-think-I-can — Fri, 19 Feb 2016 14:02:20 GMT

@takeshi74 wrote:
I'd suggest finding a service that offers daily TU pulls so you can see what's going on with your TU report if you want to determine the cause(s). That will allow you to at least determine if it is the report data from TU. You definitely cannot rely on myFICO alerts and updates alone to determine the causes of scoring changes.

Hi takeshi74, I have credit karma and credit sesame and according to both, my report has remained clear....no alerts/ derogatory information.

Unfortunately, even when I purchase fresh reports from myFico it shows as clear also....

This is just one of those extremely frustrating things that totally defies logic.

Re: TU reporting wrong. CFPB complaint?

Anonymous — Fri, 19 Feb 2016 16:27:00 GMT

@takeshi74 wrote:
I'd suggest finding a service that offers daily TU pulls so you can see what's going on with your TU report if you want to determine the cause(s). That will allow you to at least determine if it is the report data from TU. You definitely cannot rely on myFICO alerts and updates alone to determine the causes of scoring changes.

When I was subscribed to MyFico and seeing the update yo-yo I pulled my TU report from multiple sources, including directly from TU, multiple times on the same day I got the alerts and it always came up clean.

Re: TU reporting wrong. CFPB complaint?

Anonymous — Fri, 19 Feb 2016 16:28:01 GMT

The funny thing for me is, originally Barclays and Discover were matching my myFICO scores

Exactly the same with me.

Re: TU reporting wrong. CFPB complaint?

JLK93 — Fri, 19 Feb 2016 22:03:29 GMT

@Anonymous wrote:
The funny thing for me is, originally Barclays and Discover were matching my myFICO scores

Exactly the same with me.

I am experiencing the same thing since September 2015.

Re: TU reporting wrong. CFPB complaint?

JLK93 — Fri, 19 Feb 2016 22:09:59 GMT

@oilcan12 wrote:
@Anonymous wrote:
The funny thing for me is, originally Barclays and Discover were matching my myFICO scores

Exactly the same with me.
I am experiencing the same thing since September 2015.

Discover and Barclays are somehow obtaining Fico scores based on information that has been removed from Transunion Credit reports. Several posters are now reporting this. I don't know whether this is by design or simply a case of Transunion incompetence.

Re: TU reporting wrong. CFPB complaint?

I-think-I-can — Fri, 19 Feb 2016 22:35:30 GMT

Oh wow, thank you for the information oilcan12....maybe the issue is bigger than I thought? I am indeed wondering if it is simply TU incompetence or something more purposeful.

It is extremely frustrating for sure.