topic Re: EVERYONE HAS BEEN LIED TO in General Credit Topics

EVERYONE HAS BEEN LIED TO

Anonymous — Mon, 12 Dec 2016 03:13:54 GMT

This myth that only 30 day late payments are reported to the credit bureaus is a lie. Today I applied for Barclay credit card, instantly approved for 1,500$ , 4 minutes later I called the back door number and requested to have my limit set at 3,000$. Here is where it gets interesting, before he gave me a 500$ Increase ( he denied anything higher then that because of how low my other credit limits were) he did a soft pull and asked me why was I 2-3 days late on my Wells Fargo credit card. Interesting, I thought only 30 day late payments were reported to the bureau and anything reported under 30 days was a violation of federal law. My Wells Fargo credit card had interest due on 12/2/2016 (11.25$) I didn't pay it because that interest included a cash advance interest and last month that cash advance was due to a fraudulent charge; Not only did wellsfargo make a mistake by charging me interest on a fradulaebt charge, that they claimed was already resolved and any related fees would be reimbursed back to me; but they also reported me 2-3 day late payment to the bureaus. Also, I pulled the SAME credit report Barclays pulled a couple of minutes later and I didn't see ANY late payments on my account. It's safe to say lenders can see things we can't. I will be seeking legal help.

Re: EVERYONE HAS BEEN LIED TO

Anonymous — Mon, 12 Dec 2016 03:19:08 GMT

Could it have been a misunderstanding? Did you call back to speak to a different person to see what they would say?

Re: EVERYONE HAS BEEN LIED TO

fltireguy — Mon, 12 Dec 2016 03:21:46 GMT

Where did you pull your report from?

Re: EVERYONE HAS BEEN LIED TO

Anonymous — Mon, 12 Dec 2016 03:23:33 GMT

Wow, that is messed up. I'm interested in the outcome of all this.

Re: EVERYONE HAS BEEN LIED TO

fltireguy — Mon, 12 Dec 2016 03:29:40 GMT

Wait. So, LAST MONTH there was a fraudulent charge with interest.. and you didn't pay the interest last month on it either (or did I read this wrong). Remember, there is NO grace period on a cash advance, so, it is entirely possible that you actually are late, based on that! However, if it is fraud, I'm sure that they will eventually remove the latest for you, along with the accrued interest.

Re: EVERYONE HAS BEEN LIED TO

pizza1 — Mon, 12 Dec 2016 03:33:52 GMT

i have never heard of this before.

Could it had possibly been that WF reported out of cycle? That seems more likely..

And with everything being outsourced, the language barrier becomes difficult. I always ask to be transferred back to a USA rep.

Where did you pull your report? If it wasn't a true TU report from TU itself, I wouldnt worry about it. If you pulled from like CK or any of those places, eh..

Sounds like to me the rep didn't know how to read a report, and may have confused an early cycle reporting with a late ....

Re: EVERYONE HAS BEEN LIED TO

Creditaddict — Mon, 12 Dec 2016 03:35:52 GMT

no creditor is reporting 2-3 days late and it's not even an option on a credit report to show such things... it's either current or 30+ days late.

Not sure where the misunderstanding was but it's false.

Pull a TU report of your own and verify that wells has not reported a 30 day late and if not move on... Barclay can be great or they can be EPIC stupid! I think you hit the latter tonight!

Re: EVERYONE HAS BEEN LIED TO

pizza1 — Mon, 12 Dec 2016 03:36:54 GMT

@Creditaddict wrote:
no creditor is reporting 2-3 days late and it's not even an option on a credit report to show such things... it's either current or 30+ days late.
Not sure where the misunderstanding was but it's false.
Pull a TU report of your own and verify that wells has not reported a 30 day late and if not move on... Barclay can be great or they can be EPIC stupid! I think you hit the latter tonight!

PREACH BROTHER!! LOL

Re: EVERYONE HAS BEEN LIED TO

Creditplz — Mon, 12 Dec 2016 03:42:37 GMT

Creditaddict, couldn't have said it any better 😂

Re: EVERYONE HAS BEEN LIED TO

UncleB — Mon, 12 Dec 2016 04:09:48 GMT

Data point: my grandparents had a fraudulent charge show up on their WF Visa back in the summer... Wells was very prompt in rectifying the situation, and they reversed the interest that had accrued on the charge (it was nearly two months old when it was spotted). We did not have to request the interest credit... it was automatic.

I'm not saying I don't believe the OP, but something is wrong here... Wells has their faults but I've seen first-hand how they deal with this kind of thing, and they were both professional and efficient.

Re: EVERYONE HAS BEEN LIED TO

gdale6 — Mon, 12 Dec 2016 04:12:39 GMT

Hi there OP,

I have removed your cross post on this from the CC App forum, please refrain from this in the future it can create confusion and its not inline with our TOS. As your main complaint is a reporting problem I have moved the post from the CC forum to the General Credit Forum so the members can help you with your reporting issues. I thank you for your understanding on this.

Re: EVERYONE HAS BEEN LIED TO

Revelate — Mon, 12 Dec 2016 07:16:26 GMT

Lenders can and do pull from a variety of sources; unfortunately outside of the bureaus some of these 3rd party providers are stupidly opaque.

It's possible there was a report by WF of any sort of late to this other possible dataset; however, it will not be on the bureaus, they don't even have a code for that in the software library implementations they provide and as you note you didn't see it on the report; additionally, no lenders do not get additional information on the standard credit report pull... actually we get more if we pull from the bureau when it comes to credit reporting (soft pulls for example).

Otherwise there is some confusion somewhere possibly by the CSR which is where I suspect the problem lies, who in general have an infamous reputuation on these forums for "my CSR said..."

Re: EVERYONE HAS BEEN LIED TO

RobertEG — Mon, 12 Dec 2016 17:51:50 GMT

What does or does not comprise a reportable 30-late to a CRA is not defined by statute, it is defined by CRA policy in their joint credit reporting manual, the "Credit Reporting Resource Guide."

The definition in the manual is that a late becomes reportable to a CRA once it reaches 30-59 days past the billing due date.

A late that is less than 30 days past its billing due date is a delinquency under the account agreement, but does not become reportable until it reaches 30 days past the billing due date.

There is no legal controversy over what is or is not a reportable 30-late.

If you have a late that fails to meet the clear and standard definition and yet is reported to a CRA, you begin by filing a formal dispute of its accuracy.

If that fails, you have the option then of a complaint to the CFPB or of bringing your own civil action contesting the verification provided by the CRA.

Re: EVERYONE HAS BEEN LIED TO

Anonymous — Mon, 12 Dec 2016 17:53:30 GMT

Barclays are a bunch of a-holes apparently they did two softpulls in a row and can see that your balance did not move after 2 months of reporting from Wells Fargo. I don't see how they can make that judgement what if you charged exactly the same amount two months in a row?

Re: EVERYONE HAS BEEN LIED TO

Anonymous — Thu, 15 Dec 2016 19:46:24 GMT

I have no reason to lie, I'm not gaining anything from lying lol. When the Fraudkent cash advance charge was initially made, there was interest charge and fee that was reverse red. I don't know how the wires got crossed, but I was charge again for if. and yes WF did report 2-3 day late charge;s there's was no way that Barclays rep would of found out about it. Lenders can see things we can't, I called WF executive office and they confirmed they report late payments before 30 days because of that FAIR ISSAC law

Re: EVERYONE HAS BEEN LIED TO

Creditaddict — Thu, 15 Dec 2016 19:50:12 GMT

100% they cannot see things that you can't see if they pull a report you can get it too

Re: EVERYONE HAS BEEN LIED TO

Anonymous — Thu, 15 Dec 2016 19:50:13 GMT

I didn't pay the interest last month because wellsfargo reversed it. but some how I was charged interest again on the cash advance.

Re: EVERYONE HAS BEEN LIED TO

Anonymous — Thu, 15 Dec 2016 19:51:15 GMT

Excuse my typing; I'm using my phone at work.

Re: EVERYONE HAS BEEN LIED TO

Bone35 — Fri, 16 Dec 2016 17:59:21 GMT

@Anonymous wrote:
I have no reason to lie, I'm not gaining anything from lying lol. When the Fraudkent cash advance charge was initially made, there was interest charge and fee that was reverse red. I don't know how the wires got crossed, but I was charge again for if. and yes WF did report 2-3 day late charge;s there's was no way that Barclays rep would of found out about it. Lenders can see things we can't, I called WF executive office and they confirmed they report late payments before 30 days because of that FAIR ISSAC law

FAIR ISSAC law?

Re: EVERYONE HAS BEEN LIED TO

iced — Fri, 16 Dec 2016 19:58:08 GMT

@Creditaddict wrote:
no creditor is reporting 2-3 days late and it's not even an option on a credit report to show such things... it's either current or 30+ days late.
Not sure where the misunderstanding was but it's false.
Pull a TU report of your own and verify that wells has not reported a 30 day late and if not move on... Barclay can be great or they can be EPIC stupid! I think you hit the latter tonight!

This is news to me. I always thought that anything from 1 second late up to 30 days late was reported as 30 days late, 31 days to 60 was 60 late, and so on. Is this not the case?