Disputing errors on credit reports, costs you points!

[Monkeydogaz]

Hi, I recently signed up at myfico.com and love what they had to offer plus the all the additional insight. After a week or two of online research and getting familiar with the credit process, I decided I would combat a few errors on my reports. I did this yesterday. As of today, I was alerted that a change occurred with credit reports through myfico.com. Crap, disputing cost me 17 points! How long might it take to recover those points? I was at 623 attempting clear things up and purchase a home, now I'm out of the running!

[llecs]

If the item is verified with no changes and the dispute clears, then the points will rebound. If the item is deleted, then YMMV as to the point change. You'll still lose the points, but that loss might worsen if the TL is older than the avg. age of your accounts or lessen if it was a newer account. If it is updated w/ changes to that TL, then again, YMMV. It depends if they add lates, remove lates, update the status, etc. When a dispute is initiated for OC accounts (not CAs or PRs), FICO will ignore certain aspects of that TL including the balance, the CL, and the payment history.