Strange Reporting from Chase - should I be concerned?

[Anonymous]

Since my Chase statement closed this past week, my fico score has gone down 2 points, whereas my Fako scores have gone down like 35-40 points. My statement balance was negative as I completely paid off the card before it closed. Haven’t missed a payment or anything negative on my account.

I look this morning at my credit reporting and see that “remarks” were added regarding a dispute by the consumer. I haven’t disputed anything with Chase as my account has been fine. For some reason, my payment history is not shown on Experian, and my november payment is missing from Credit Karma.

Is this an issue I should be concerned about? Who should I contact regarding this?

[CramEiko]

Do you happen to live in an area where you were affected by a named storm such as one of the hurricanes or more recently the huge fires in California? It may be a zoning thing and they may be helping all of their clients in those affected areas.

I would definately call Chase. Thats your best bet.

[Anonymous]

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@CramEiko wrote:

Do you happen to live in an area where you were affected by a named storm such as one of the hurricanes or more recently the huge fires in California? It may be a zoning thing and they may be helping all of their clients in those affected areas.

I would definately call Chase. Thats your best bet.

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No, I live in Illinois so no impact here. I'll call Chase then. Thanks!

[JVille]

Did you call them to close it and make some unusual comments about your reason? You absolutely need to call them!

[Anonymous]

Just inform Chase that you didn't dispute anything, just that you closed an account and that you'd like the dispute remarks removed.  They should report that right away and the remarks should be gone.  The remarks shouldn't have lowered your score though, be it 2 points on a FICO score or 35-40 points on a FAKO score.  If your score dropped, I would think it came because of something else.

[Gramz]

This is the same thing that happen to me.  Only it's not chase but Wells Fargo, my point drop drastically 35 points to be exact on Credit Karma.  I am going to give them a call and see why those remarks are posted on my credit file.

[Anonymous]

These remarks happen if you dispute a charge on your card to the creditor ("chargeback").  During the investigation process internally some creditors report to the CRAs that a dispute was filed.

During the dispute process, that account can actually go inactive on your credit reports which can affect your FICO score based on the number of credit cards you have, utilization, etc. 

When was the last time you disputed a credit card charge with Chase?

[Anonymous]

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@Anonymous wrote:

These remarks happen if you dispute a charge on your card to the creditor ("chargeback").  During the investigation process internally some creditors report to the CRAs that a dispute was filed.

During the dispute process, that account can actually go inactive on your credit reports which can affect your FICO score based on the number of credit cards you have, utilization, etc. 

When was the last time you disputed a credit card charge with Chase?

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Wow, that's interesting. I did file a $28 transaction dispute last week, days before my statement closed, because of a duplicate restaurant charge to my card. So the remarks are related to a transaction dispute and not a credit report/FCRA dispute?

I plan on calling Chase in a bit. I called yesterday and the rep said I needed to speak with their Credit Bureau Specialist team on a weekday to discuss.

Update: Just spoke with their credit specialist, she did indeed confirm it's related to the transaction dispute. The dispute has been resolved since then and a credit was applied to my account. So the specialist is sending an update over to the 3 credit bureaus to have the remarks removed. I never heard/seen this before as I have filed transaction disputes before, even with my Chase card. But I guess it was timing since my statement closed when the dispute was still pending.

Thanks guys for the great info!

[Anonymous]

It's more common now than it was in prior years because lenders are trying to abide the law in every possible facet.  Disputing a charge on your credit bill is a dispute so the card companies are wise in informing the CRAs of your dispute.  While the dispute is processing, that account may technically be considered "inactive" and be ignored from your FICO scoring otherwise.  It can help your scores, or it can hurt your scores.

Glad you cleared it up with Chase -- and after the dispute is done, they should update your reports to reflect that. 

But be aware in the future that if you open a dispute direct with a lender for any reason, it may also become a dispute reflected on your credit reports.  Your original post saying "I didn't dispute this" is actually incorrect, as you are now aware.  I had a strong feeling you DID dispute that account, and as you've seen, that was the case!