topic Question Involving Wells Fargo, TU, and MF in General Credit Topics

Question Involving Wells Fargo, TU, and MF

Tapdnsr25 — Sun, 23 Jan 2022 19:05:00 GMT

Yesterday I got a MF alert that a negative had been removed from my TU report, which gave my TU (8) score a 35 pt boost. Sounds nice, but I only have one bad thing in my file--a 30 day late reported by Wells Fargo in summer of 2017 (July or August). It's January, so I'm not near a 5 yr mark or something like that, and EX and EQ are still showing it. Seems strange. Wells Fargo OUGHT to remove it, since it was due to their own system failure (I'd signed up for automatic payments, but as the CSR himself admitted "sometimes it doesn't take" and I hadn't noticed until it was too late), but when I'd tried to get it removed back then, they wouldn't budge on it.

The other strange part of it is that I wouldn't expect a 4.5 yr old late payment to cause a 35 pt increase. Does that sound right? I ask because I'm wondering if it's just some mistake on MyFICO's part or something (like, does that ever happen?)...in which case I can expect those points to go back down when it's corrected.

Re: Question Involving Wells Fargo, TU, and MF

FireMedic1 — Sun, 23 Jan 2022 19:55:56 GMT

That's a little extreme for a 30 day with that age. As far as auto pay. Many live by it. Seen many get nailed and its never the banks fault in most cases. Myself. No auto pay because I suffered many years ago with the same thing. Never again. It may fix itself and go back to normal. MF alerts do have hiccups at times.

Re: Question Involving Wells Fargo, TU, and MF

Tapdnsr25 — Sun, 23 Jan 2022 20:17:16 GMT

Thanks. I think you're right. CapitalOne, Credit Karma, and Wallet Hub all usually report any changes before MF does, and none of them have shown any such change, so I am assuming it is a MF hiccup, as you said.

Would be great if it were coming off early for some reason, like WF officially figured out they had an issue with their system and went back and determined who'd they'd burned with it, and decided to right their wrong by removing the incorrect lates, but...well that wouldn't really jive with the world we live in, would it? lol

Re: Question Involving Wells Fargo, TU, and MF

Yasselife — Sun, 23 Jan 2022 20:19:26 GMT

@FireMedic1 I manually check my accounts like a hawk, but also have my accounts on autopay in case anything happens, like ending in a psychiatric hospital for stress related actions. Better prepared than sorry.

Re: Question Involving Wells Fargo, TU, and MF

FireMedic1 — Sun, 23 Jan 2022 22:11:55 GMT

@Yasselife wrote:
@FireMedic1 I manually check my accounts like a hawk, but also have my accounts on autopay in case anything happens, like ending in a psychiatric hospital for stress related actions. Better prepared than sorry.

Once the lightning struck the first time. It doesnt strike in the same place twice. No chances. Isnt worth 7 yrs of a score hit over a computer. They never mess up. Cough cough.