Why Do The 3 CRA's Report So Differently

[Anonymous]

The 3 CRA's report my accounts so differently for example my NFCU CLOC reports as revolving on EX and TU but reports as installment loan on EQ. Same goes for my PenFed PLOC. Ex reports as revolving TU reports as Line of Credit and EQ reports as installment loan. Just find it weird and was curious as to the affects it has on scoring if its labeled as installment but doesnt show a balance.

[IncrsCreditScore]

I hope you get some responses to your inquiry.  I have often wondered this myself.

[Anonymous]

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@Anonymous

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@AnonymousThe 3 CRA's report my accounts so differently for example my NFCU CLOC reports as revolving on EX and TU but reports as installment loan on EQ. Same goes for my PenFed PLOC. Ex reports as revolving TU reports as Line of Credit and EQ reports as installment loan. Just find it weird and was curious as to the affects it has on scoring if its labeled as installment but doesnt show a balance.

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What is the source of the reports that you're looking at?  If it's a CMS like MF, CCT, CK or any others, know that CMS software does not necessarily match what you'd see on your real hard-copy credit report.  Your best bet is to obtain your real hard-copy reports, as those are what matters, what your scores are drawn on and what potential lenders would see. 

[Anonymous]

Thanks BBS. The information was from CCT but I will pull a hard copy of my three reports later today to double check.

[Anonymous]

I use CCT regularly and see accounts misrepresented many times.  It's not just CCT though, as I've seen variances across other CMS providers as well.  They aren't consistent across each other even, as sometimes I'll see something from one CMS listed as a revolver and another CMS calls it an installment loan. 

[Anonymous]

been curious to this as well and did notice the same thing on CCT.

I pulled my 3 credit reports sraight from the bureaus and was told everything was reported accuratley when i tried to dispute, no other reason why

[FinStar]

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@Anonymous wrote:
Thanks BBS. The information was from CCT but I will pull a hard copy of my three reports later today to double check.

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Hard copies of all 3 CRs display any OLOCs and PLOCs as Line of Credit (Loan Type/Type of Loan) and Revolving (Account Type/Type of Account) respectively for me.   The same information displays online for each of them.   Variations will always appear evident with third party or CMS providers IME. 

[FinStar]

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@Anonymous wrote:

been curious to this as well and did notice the same thing on CCT.

I pulled my 3 credit reports sraight from the bureaus and was told everything was reported accuratley when i tried to dispute, no other reason why

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What was the basis of the dispute?