Submitted a dispute to Equifax today to remove a credit one account from my report along with the LVNV collection agency that bought the debt. Seems someone opened a $300 card in my name. I reported the fraud to my local sheriffs office and submitted a copy of that report with the dispute. Logged in this evening to check my scored and Equifax dropped 45 pts!! Due to the dispute being opened. I'll be anxiously waiting for my score to recover. I'll post the results for anyone interested.
Score took a pretty big dip. Argh!
I have yet to dispute this card of experian, will probably do that tmrw. I'll post the result of that as well. Yikes!
Transunion has already removed it without any issue.
How can you be sure that the dispute dropped your score and that it wasn't related to another factor(s)?
A FICO drop of that amount could be because of a reaged CO or a new CA. I would check the FULL updated CR for verification. A disputed item being removed would have the opposite effect. Not sure how the whole "Fraud Alert" being placed on file would play out. From your starting score it seems there is some previous history there. You may want to double check whats happening in the background.
This is Chess... It ain't Checkers!!!
It dropped when I opened the dispute. It's not completed yet.
One inquiry dropped off my Equifax report within the same week of filing the dispute which brings my inquiries to zero! No debt change, no credit balance change, no new apps, no new anything. I keep my credit cards below 30%, paid in full every month.
I have absolutely nothing else going on with my credit right now.
The drop doesn't worry me, I know it will jump back up. It was a PSA for others on here that are rebuilding as well. 45 pts seems excessive but I guess that's what they're doing these days.
Currently; two credit cards, two student loans, no mortgage, no auto loans, perfect payment history aside from the disputed account, no other collection accounts aside from that either. Will be excited to see my new score when the dispute is completed!
I do want to finance something after I find out what my score is after the dispute.