Posts have been removed and the thread is now open for new replies.
Just a remider that we can't discuss providing false information to a credit bureau for any reason.
Sounds to me like a reasonable way to handle the situation, for the bank reporting and for the bureau display and FICO calsculation.
A dispute could arise for any number of reasons.
Example 1 - Does the cardholder dispute whether they missed all those payments? Until that gets sorted, don’t include the payment history at all in the score, exclude the balances involved and the credit limit.
Example 2 - Does the cardholder believe this balance is fraud? Exclude the balance, the limit, and all history.
Scoring relies on automated algorithms, and massive data feeds between the CCC and the bureaus. Excluding a specific component of your exact dispute detail is not something that can be done easily.
Once the dispute is sorted, your history, CL, and balances will be included in scoring again.
When I recently disputed an old, closed mortgage account on my EQ report, Credit Karma reported that the account had been deleted from my EQ CR. My EQ Vantage 3.0 score jumped accordingly.
However, for several weeks I checked the EQ website directly to see if the old account had actually been removed from my CR. Nope, it wasn't and there was no bump in either my EQ FICO score or my EQ proprietary score!
The motto is: Don't believe every deletion you see in response to a dispute. Some of them may be phantom deletions!
@ridgebackpilot: it should’ve temporarily raised your FICOs as well.
I was expecting that, but it never happened. Not sure why Credit Karma would have reported that an account was deleted but not FICO?!