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Discover Account, Remark on CRA

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Established Contributor

Discover Account, Remark on CRA

Account information disputed by consumer

 

this is what I am seeing on my credit report under my discover credit card account I have no clue what this means can anyone tell me what this means and it actually dropped my EQ score 7 points and its very concerning to me,

Message 1 of 7
6 REPLIES 6
Valued Member

Re: Discover Account, Remark on CRA

Typically this message appears if you have opened a dispute with a credit reporting agency. It can also appear if you open a dispute directly with the credit card company (like disputing late payments, fees, credit not received, etc). If you are using a card's benefit for return protection or loss/damage, this could be a reason since you typically initiate this benefit coverage via disputes. 

 

When an account is under dispute, for scoring purposes, FICO's algorithm ignores this account. In some cases, this can artificially inflate your score if the account has negative information. In other scenarios, since the credit limit is no longer included, it can raise your utilization, and also affect average age of accounts. 

 

So, just temporary until the dispute ends. Did you initiate anything?

Message 2 of 7
Valued Contributor

Re: Discover Account, Remark on CRA

Also, is it Transunion? Did you claim a chargeback through Discover against a retailer?
Message 3 of 7
Established Contributor

Re: Discover Account, Remark on CRA


@EJMiv wrote:

Typically this message appears if you have opened a dispute with a credit reporting agency. It can also appear if you open a dispute directly with the credit card company (like disputing late payments, fees, credit not received, etc). If you are using a card's benefit for return protection or loss/damage, this could be a reason since you typically initiate this benefit coverage via disputes. 

 

When an account is under dispute, for scoring purposes, FICO's algorithm ignores this account. In some cases, this can artificially inflate your score if the account has negative information. In other scenarios, since the credit limit is no longer included, it can raise your utilization, and also affect average age of accounts. 

 

So, just temporary until the dispute ends. Did you initiate anything?


The only thing i disputed was a transaction on my account but that was over a month ago. 

Message 4 of 7
Established Contributor

Re: Discover Account, Remark on CRA


@Ghoshida wrote:
Also, is it Transunion? Did you claim a chargeback through Discover against a retailer?

Yes its on TU as well and i disputed a charge from a company but nothing more.

Message 5 of 7
Valued Contributor

Re: Discover Account, Remark on CRA

Yeah. Transunion reports every time you dispute a charge with a retailer / company using the credit card.

I was reading about The Retail Equation : it's a consumer report company about store returns. My prediction is that Transunion is trying something similar with chargebacks. They're keeping track of all chargebacks for a customer across cards and will use it to analyze fraud.
Message 6 of 7
Senior Contributor

Re: Discover Account, Remark on CRA


@Ghoshida wrote:
Yeah. Transunion reports every time you dispute a charge with a retailer / company using the credit card.

I was reading about The Retail Equation : it's a consumer report company about store returns. My prediction is that Transunion is trying something similar with chargebacks. They're keeping track of all chargebacks for a customer across cards and will use it to analyze fraud.

Interesting... Thanks for sharing Goshida!Smiley Happy

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