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First Premier Help Needed - Is this inaccurate?

Birdman7
Super Contributor

Re: First Premier Help Needed - Is this inaccurate?


@dirknights wrote:

The puzzling thing for me is that, for the most part, there are no significant differences between my Transunion and Experian reports. However, my Transunion is a 762 and my Experian is a 689.   Could it be the fact that on Experian this account is showing (incorrectly) as if it were not paid in full?

 

Thanks


Something is definitely screwy with it. 

-Community’s scoring wisdom: Scoring Primer.
-New: MORTGAGE SECTION.
-Negative Reason Codes: CassieCard’s Score Factors.
-Calculate metrics with ccquest’s Workbook.

Clean/Thick/Mature/No New Revolver - 8,9; Clean/Thick/Mature/No New Account - 5/4/2.
Correct Ag.Util. under 5% all times. (Oldest/avg varies. Estimates above.)
Real world mortgage maxes are: EQ5-818, TU4-839, EX2-844.



RIP:

(Everything said is JMHO and is not endorsed by FICO or MF. I have no affiliation with either, just a grateful member.)
Message 21 of 28
Birdman7
Super Contributor

Re: First Premier Help Needed - Is this inaccurate?


@gdale6 wrote:

@Birdman7 wrote:



IF the payment status is paid, then the date recency should be calculated from should be the date it was paid, NOT the date it was last updated; that would only be the case if it were UNPAID.


Actually with Fico 8 its from date of update even with a paid off CO or CA.


@gdale6 that's not my understanding. I can go dig up the threads if you like. I could be wrong, wouldn't be the first time, but I'm pretty positive that's what I've read.

-Community’s scoring wisdom: Scoring Primer.
-New: MORTGAGE SECTION.
-Negative Reason Codes: CassieCard’s Score Factors.
-Calculate metrics with ccquest’s Workbook.

Clean/Thick/Mature/No New Revolver - 8,9; Clean/Thick/Mature/No New Account - 5/4/2.
Correct Ag.Util. under 5% all times. (Oldest/avg varies. Estimates above.)
Real world mortgage maxes are: EQ5-818, TU4-839, EX2-844.



RIP:

(Everything said is JMHO and is not endorsed by FICO or MF. I have no affiliation with either, just a grateful member.)
Message 22 of 28
Birdman7
Super Contributor

Re: First Premier Help Needed - Is this inaccurate?

@gdale6 as a matter fact I think pretty recently we've had some people that had paid COs updated and there was no effect to their score, whereas we've had many that were updated that were unpaid that did continue to affect score. And this has been fairly recently.

-Community’s scoring wisdom: Scoring Primer.
-New: MORTGAGE SECTION.
-Negative Reason Codes: CassieCard’s Score Factors.
-Calculate metrics with ccquest’s Workbook.

Clean/Thick/Mature/No New Revolver - 8,9; Clean/Thick/Mature/No New Account - 5/4/2.
Correct Ag.Util. under 5% all times. (Oldest/avg varies. Estimates above.)
Real world mortgage maxes are: EQ5-818, TU4-839, EX2-844.



RIP:

(Everything said is JMHO and is not endorsed by FICO or MF. I have no affiliation with either, just a grateful member.)
Message 23 of 28
gdale6
Moderator

Re: First Premier Help Needed - Is this inaccurate?


@Birdman7 wrote:

@gdale6 as a matter fact I think pretty recently we've had some people that had paid COs updated and there was no effect to their score, whereas we've had many that were updated that were unpaid that did continue to affect score. And this has been fairly recently.


Its always possible that someones Fico would not change even with an update of a paid CO. I have seen some of those posts that say that nothing changed and yes with no utilization with a 0 balance it may result in few points changing.

Message 24 of 28
dirknights
Established Member

Re: First Premier Help Needed - Is this inaccurate?

I called up First Premier,  pointed out that there was an inaccuracy in their reporting, they denied it. I also received a nice letter in the mail today stating that they didn't need to verify my account (I will try to scan it an upload if anyone's interested). However, they did admit over the phone that I did pay it off in full. So I tried to re-open a dispute with Experian, but I am not making to much progress as Experian seems to be auto denying my disputes (through Experian.com), stating that the account was disputed in the past. I provided Experian with additional information/documentation, however, they still haven't reopened the dispute.

 

So what I decided to do was apply for a new card with First Premier. I read somewhere on the forums that one member's status was changed from a CO to a positive status after opening a new account. I am not sure if this would be considered a blackhat tactic, but FP is a very predatorial company...I feel like if fighting fire with fire would be the best approach here. I've even sent them documents (hospital bills, MRIs, etc.) showing that I was involved in a serious accident and couldn't work, to give reason to why I fell behind in the first place, but that didn't help.

 

Anyway, I applied yesterday, but their system asked me to fax in income verification before it could be approved.  This is the first time a card company has ever asked me to verify my income. I know it can happen, especially with certain credit union cards, but it was just a first for me.  My Equifax, which is what they pulled, is about a 740 (no derogatories) and my income is in the 6 figures.  So I was hoping for an automatic approval which I did get when I first applied 5 years ago (when I had no income and a lower credit score).  I guess since my current credit profile and income don't really match which their target customer it was flagged?

 

Hopefully this works and I could just close out the card in a year.





Message 25 of 28
Birdman7
Super Contributor

Re: First Premier Help Needed - Is this inaccurate?

@dirknights How did you do your dispute? Online? Handwritten or typed?

-Community’s scoring wisdom: Scoring Primer.
-New: MORTGAGE SECTION.
-Negative Reason Codes: CassieCard’s Score Factors.
-Calculate metrics with ccquest’s Workbook.

Clean/Thick/Mature/No New Revolver - 8,9; Clean/Thick/Mature/No New Account - 5/4/2.
Correct Ag.Util. under 5% all times. (Oldest/avg varies. Estimates above.)
Real world mortgage maxes are: EQ5-818, TU4-839, EX2-844.



RIP:

(Everything said is JMHO and is not endorsed by FICO or MF. I have no affiliation with either, just a grateful member.)
Message 26 of 28
dirknights
Established Member

Re: First Premier Help Needed - Is this inaccurate?

I did an online dispute as well as a typed dispute that was mailed in and tracked (so I know that they received it).

 

Is there are deadline for which the Credit Beureus need to respond by? Even if it's to let you know that they are not going to investigate? 

 

On a slightly different note, FP approved my card and it should arrive sometime within the next two weeks.  I am not trying to promote this as a valid way to correct an issue with FP, far from it.   However, just from seeing all the horror stories on myfico and creditKarma, if this works, and there is actually something being misreported, it could be a valid last resort. In this lending environment, lenders are not willing to take the risk of lending to someone with derogatories; even if it's only a $300 item, that happened five years ago, and you have nothing but positive payment history since then.   CapitalOne, Discover, and American Express all denied my credit line increase requests, even though I've spent close to 50k on them in the last 6 months, and I pay off my balance in full every month (and they always cite the denial reason as accounts not paid as agreed). 

 

I will continue to try to work with Experian and TransUnion on this, but I believe because of COVID-19 they are understaffed, and not really paying too much attention to disputes, especially if it's on something that has already been disputed.





Message 27 of 28
Birdman7
Super Contributor

Re: First Premier Help Needed - Is this inaccurate?


@dirknights wrote:

I did an online dispute as well as a typed dispute that was mailed in and tracked (so I know that they received it).

 

Is there are deadline for which the Credit Beureus need to respond by? Even if it's to let you know that they are not going to investigate? 

 

On a slightly different note, FP approved my card and it should arrive sometime within the next two weeks.  I am not trying to promote this as a valid way to correct an issue with FP, far from it.   However, just from seeing all the horror stories on myfico and creditKarma, if this works, and there is actually something being misreported, it could be a valid last resort. In this lending environment, lenders are not willing to take the risk of lending to someone with derogatories; even if it's only a $300 item, that happened five years ago, and you have nothing but positive payment history since then.   CapitalOne, Discover, and American Express all denied my credit line increase requests, even though I've spent close to 50k on them in the last 6 months, and I pay off my balance in full every month (and they always cite the denial reason as accounts not paid as agreed). 

 

I will continue to try to work with Experian and TransUnion on this, but I believe because of COVID-19 they are understaffed, and not really paying too much attention to disputes, especially if it's on something that has already been disputed.


@dirknightsSorry haven't been online. You did 2 separate disputes? They may disregard one without reinvestigation. They are only required to investigate once unless you present new evidence. They are supposed to respond within 30 days. In the future use handwritten disputes, CMRRR, so it cannot be scanned in via OCR and then automated by computer. No, force human intervention.

 

Yes COVID has dramatically changes the lending environment. Good on FP.  And after the economy returns to normal, the CLIs will be easier. And you've only got another 2 years on them, thank goodness.

-Community’s scoring wisdom: Scoring Primer.
-New: MORTGAGE SECTION.
-Negative Reason Codes: CassieCard’s Score Factors.
-Calculate metrics with ccquest’s Workbook.

Clean/Thick/Mature/No New Revolver - 8,9; Clean/Thick/Mature/No New Account - 5/4/2.
Correct Ag.Util. under 5% all times. (Oldest/avg varies. Estimates above.)
Real world mortgage maxes are: EQ5-818, TU4-839, EX2-844.



RIP:

(Everything said is JMHO and is not endorsed by FICO or MF. I have no affiliation with either, just a grateful member.)
Message 28 of 28
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