Does disputes effect anything?

thatguycx · ‎02-27-2020

If you recently disputed something about an account on your credit report, will that effect any new credit card application with like Chase, AMEX, etc? Especially with Chase, but could that lead to a denial of a credit card from them? Or does it not matter? I did the dispute a few weeks ago and myFICO gave me a notification saying a dispute was detected. For some reason that raised my score too by 10 points for one of the bureaus.

It's not a late payment dispute or anything, the account (a revolving account) was just showing the wrong balance; a higher balance than what it should be before I applied my insurance.

M_Smart007 · ‎02-27-2020

@thatguycx wrote:
If you recently disputed something about an account on your credit report, will that effect any new credit card application with like Chase, AMEX, etc? Especially with Chase, but could that lead to a denial of a credit card from them? Or does it not matter? I did the dispute a few weeks ago and myFICO gave me a notification saying a dispute was detected. For some reason that raised my score too by 10 points for one of the bureaus.

It's not a late payment dispute or anything, the account (a revolving account) was just showing the wrong balance; a higher balance than what it should be before I applied my insurance.

While it should not hurt you, the 10 point gain may have come from it being removed from scoring during the dispute process.

Also the 10 point penalty could come back if nothing has changed after the dispute is over.

Remedios · ‎02-27-2020

While the account may temporarily be removed from scoring, it's not invisible to lenders.

So whatever problem exists with that account, it's still present.

10 point increase wont help much in getting approval for a card you normally wouldn't be approved for.

As always, it will be profile dependent.

I would not be applying for anything while dispute is ongoing.

It wont help, but it can hurt your chances.

Wait till whatever you needed to dispute is resolved, especially if we're talking about negative info