MYFICO reporting incorrectly

[cjane1]

Hi all,

  I looked up my scores this morning and myfico is showing my Discover card is reporting 100% utilization. I have a 1000.00 credit line but only  have a balance of 34.00, it has caused my scores to go down. How do I get this corrected?

[Anonymous]

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@cjane1 wrote:

Hi all,

  I looked up my scores this morning and myfico is showing my Discover card is reporting 100% utilization. I have a 1000.00 credit line but only  have a balance of 34.00, it has caused my scores to go down. How do I get this corrected?

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What is your most recent/current statement balance?

Your score does not update in real-time. So, if you had a statement balance of 950/1000 on 05/20/18, and then paid it down to 34/1000 on 05/25/2018, your credit reports will still show the 950/1000 until your next statement date (06/20/2018 in this hypothetical scenario)

[FinStar]

What was the last statement balance on your Discover card? When did your statement cut?

[cjane1]

It had a zero balance on the last statement. I used 2 weeks ago during vacation in the approx amount of 400.00, when I got home I paid it down to the small balance.

[SOGGIE]

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@cjane1 wrote:

It had a zero balance on the last statement. I used 2 weeks ago during vacation in the approx amount of 400.00, when I got home I paid it down to the small balance.

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I'm not sure if Discover does this and others will chime in, but there may be the possibility that you can request Discover to perform a mid-cycle report to the CRA of your current account status.

[Caught750]

Discover will report mid cycle if you ask them to

[Anonymous]

Does it say "up 100%" or just 100% uti?  I've seen alerts stating "up 100%" when last reported balance was 0. I don't remember is the 100% was show anywhere else in report.

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@cjane1 wrote:

Hi all,

  I looked up my scores this morning and myfico is showing my Discover card is reporting 100% utilization. I have a 1000.00 credit line but only  have a balance of 34.00, it has caused my scores to go down. How do I get this corrected?

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[cjane1]

It is showing 100% utilization, I will call and ask them to do the update. Thanks to everybody for all the help.

[kshurika]

Discover will most definitely do a mid-cycle update and anytime you bring your balance to zero, it will immediately be reported to the CRAs without you requesting it. Discover's CSRs are friendly and helpful, from my experience.t

[RobertEG]

Commercial credit reports include observations and comments that are generated by the vendor, and may often include information that is additional to or even contradictory of information that has been reported by furnishers.

Commercial vendors dont report to the CRAs, they provide products to the consumer.

Calculation of % util is done by vendors or by credit scoring companies.  It may or may not correctly reflect the actual information in your credit file.

Before disputing the accuracy of information, it is necessary to be determine whether it is accurate in your actual credit file.

You can either obtain a copy from annualcreditreport.com or directly from the CRA to review the information in your file.