OK, I'm sure the general consensus among most of us is that credit bureaus are notoriously slow at reporting accurate information, espcially the positive stuff and the deletions, updates, etc.
If it's the last thing I do on this Earth, I want to start holding these credit bureau execs and decision makers ACCOUNTABLE to somebody. I actually asked an Experian supervisor who his company was accountable to and he quipped "The FTC... and if you don't like the way we doing things you can go to them and file a complaint"...
Well LA-TEE-FRICKIN-DAH, that's exactly what we oughta do.
It's time for bureaus to take UPDATES and DELETIONS and CORRECTIONS and implement them within 24 hours of receiving them, and if they don't then they should face some hefty fines and penalties. There's too much of an incentive built-in for these bureaus to drag their feet when it comes to improving our files. If it weren't for the tired, lazy exucse of "we're allowed 30 days blah blah blah" and if they HAD to make corrections quicker, they would lose all that revenue from credit monitoring programs, score sales, add-ons, etc.
So what'ya say, folks? Is it time to start pounding on the door of the Federal Trade Commission and start demanding that the three bureaus get their act together and join the rest of us in the 21st century? Give me some feedback and we'll see where we need to go from here.
YES, I could not have said it better myself! As a matter of fact, I asked for a supervisor today, while talking to EX, and never got to talk to one, because I spent 45 minutes arguing with the lady I was speaking with today, because they refuse to give me proper MOV, their response is "We use an automated verification system" That dosen't tell me S@#? I want to know that you are asking a real person with a name, address, and phone #, so my items can be investigated the proper way!
I'll say it again, Experian's arrogance is Legendary! Sure they report fast, the good, the bad and all of the inaccurate stuff. I posted a few times already that I am drating an ITS letter to EX; I have never written one before. Noah, help me, I'll pay you! They are reporting my Amex charge card as revolving when it's suppose to be other open account. This CC is not suppose to factor in my revolving util%. EQ and TU got it right. This inaccuracy tanked my EX score and somehow they state they verified with AMEX on a Sunday. BS, I say! Amex says EX has NEVER contacted them.
It is very easy to make a complaint online at the FTC. It takes about 5 minutes max. Just go to http://www.ftc.gov, click on "consumer protection", then "file a complaint." They don't usually investigate individual complaints, in other words, the FTC isn't going to call you back about EQ reporting your update too slowly. They may become motivated to take action only if enough consumers complain about the same companies and enough dollars are involved.
----------------- Bartender, bring another round of FICOtinis please!