I don't need to "dispute" an item after all

[pazuzu]

I'm new to reading these reports and jumped the gun.

Yesterday I saw an account I didn't recognize on my Experian report and clicked on "dispute."

Today I looked CAREFULLY and saw that the acct status is "authorized user". Then I realized what account this is, and the info is correct after all.

Can I stop the investigation? Will this be harmful to me or the primary account holder?   

[llecs]

Never initiate blanket disputes on TLs you don't recognize. After reviewing your CRs thoroughly, and there are TLs you do not recognize and/or trace back to demographic info that isn't yours, then start the process by filing a police report and then make a mention to the FTC. Then you can mail a dispute to each of the 3 with a copy of the police report. When you dispute, one computer is talking to the other increasing the odds that it would be verified. I know this is a little OT, but some may charge in disputing accounts they don't recognize offhand and mess their credit up (happened to me).

Once the dispute starts, it cannot be stopped. It will only hurt you if the age of that TL was older than your AAoA or if that TL (if revolving or charge) positively impacted your util.

In a couple very rare instances, disputing an AU acct impacted the primary account holder (read a couple cases where the TL was closed by the issuer). But don't bank on it. The primary acct holder will be in the clear.

[pazuzu]

Another reason it didn't "click" when I saw it was b/c it was listed simply as HSBC. It's a GM Card, but that isn't specified in the report.

Message Edited by pazuzu on 01-14-2009 04:59 PM

[Anonymous]

I did the same thing too. I was too quick to dispute with CRA several months ago. I called CRA and was told I could not do anything about it, I would just have to wait on their process. My score was not affected at all, primary acct holder never saw any action at all on her end.

When I first began this journey, I thought anything incorrect needed to be disputed with CRAs.

Be very careful of disputing tls with CRAs. Never dispute more than one tl at a time either. I have had better success going back to OC than CRAs. They just always seem to verify by electronic system, usually not right in my case.

BTW, be careful when looking at your reports, HSBC is shown for several CC- Best Buy, Costco, Helzberg Diamonds, Neiman Marcus, Sony, and a few others. 

Message Edited by mymoneynow on 01-14-2009 09:18 PM