So learned this the hard way . Recently EQUIFAX incorrectly reported an open account as closed. I immediatly disputed it to say its open - but once i got the remark "dispute in progress" my credit score dropped 35 points. I was sick to my stomache trying to figure out what happened. Long story short i called the creditor and and they informed me sometimes when you dispute something - the alogritihm doesnt count that account into scoring - which can result in a score drop. They said once the dispute is resolved your score will return. I'll update when the dispute is finsihed if my score returns.
Does anyone else have experience with this happening to them?? Its so discouraging to see a huge score drop and not understand what is going on.
@Greenivy wrote:Boy do I know....especially online disputes. Now I didn't get a drop from them simply being disputed, but I recently had a creditor/Experian update with the incorrect balance and showing a new current 30 day late (which was inaccurate), which dropped me 19 points. You should go read about my saga with Total Visa/Experian on the General Credit Topics section, post entitled "Experian Came Through for me in a big way".
Needless to say I will NEVER submit an online dispute for anything!!! Even if its absolutely incorrect. I will instead only dispute via certified mail!!!
i regret not just calling the creditor to tell them to correct the error themsevles and leave me out of it. You live and you learn i guess.
So my score eventually recovered but after the dispute the same error appeared so i had to dispute it again, just after my scores finally recoverd BAM a huge drop .. why? one acount added the remark "dispute in progress"- i hate that a disputed item is not scoreable - i also hate when credit bureaus continue to make the same mistake after an investigation - this is the last time i am disputing this item , its not even worth it anymore to keep trying to get them to fix it if they cant get it right the second time asking
honestly im so aggrivated - the same mistakes keep appearing after a dispute , its like they aren't even doing a proper investigation i dont know how many times i can dispute the same thing with proof and it continues to report incorrectly . This is honestly so discouraging 
@blindambition ive reported to the CFPB - all they do is send it to the CRA and then its a whole dispute all over again - ive sent out method of verfication letters which is probably going to be my last attempt
What is inaccurate that your trying to fix? You post a lot on your moves. Cant remember which one it is.
I don't see how FICO can be blamed for this. You have the consumer telling them that the information is incorrect for their account, which is exactly what a dispute is. So, they remove that account from consideration when scoring until the investigation into the dispute is complete.
When there is incorrrect information on your credit profile it is the OC to be blamed because they are the one reporting it. It is not FICO's fault that they reported it wrong.
What could be improved is that every CMS gives you a dispute option and they make it look so easy. They don't educate on the downside of what that online dispute means, they just want the clicks. On top of that you have all these "credit repair" services that go dispute happy and some consumers dispute hoping to "get lucky" or try to get something updated on a technicality.
When the experienced members of these foums talk about taking control of your credit it means that you maintain the relationship with the OCs and check on them that they are reporting everything correctly. If something is wrong, your first call should be to the OC to have it corrected. If the OC will not correct the inaccuracy and you have documented proof, that is when you go to the credit bureau and dispute. The problem is that most consumers don't realize this, so education is needed.
