GW letters affect FICO negatively?

[Naturell]

I sent a GW letter to The Childrens Place Card for a few lates. I received an alert from score watch that my fico went down to 606 from 608. It also listed as a dispute. Did a GW letter just bite me? Also, i thought once there was a change in score and credit report one could veiw the new report? I am not able to do that. Do i have to use my score watch power left? I would appreciate any information anyone can suggest. Thanks in advance.

[haulingthescoreup]

When you GW dispute something like a plain-vanilla late, the account is take out of consideration for your util, etc. So sometimes it will temporarily hurt your scores while it's being disputed. Once the dispute is removed, your scores should go back where they were if nothing was changed.

eta: sorry, can't believe I typed that. GW'ing doesn't have this effect, unless the CCC chooses to interpret the GW request as a dispute. My Citi Sears MC did that, courtesy of other their voice-recognition software.

I apologize for any confusion I might have caused!

Message Edited by haulingthescoreup on 11-06-2008 06:14 PM

[Naturell]

I'm a bit concerned because their response seemed final.  " We checked, latest are accurate thanks for disputing it will stay on your record for 2 years" I'd also requested to have an AU removed and I received a response from TU informing me it would be removed. My score is now 599 from 608.  Not sure if I should send another Gw.

[Junejer]

Unfortunately, TCP viewed your GW as a dispute and the reason that your score just dropped is because they upheld the dispute and the late was "brought forward" so to speak, during the "dispute". If you do decide to GW again, try to make sure that they understand very clearly that you are not disputing the late, but that you are just looking for some goodwill.

[RobertEG]

Hmmm.   A GW letter to a creditor is made directly to the OC or CA.  It does not involve a CRA.    So how could a GW to the OC/CA  affect CRA reporting?. 

A GW should have no FICO impact.  It is not a dispute that removes it from scoring.

As Byrd observed,they must have viewed it as a FCRA 611(a) dispute, and are thus removing it from scoring as a disputed account.

Message Edited by RobertEG on 11-04-2008 10:40 PM

[Junejer]

The OC could have easily construed the letter as a dispute and updated the CRAs. Thus, the update with the CRAs and the potential score drop in OP's case.

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RobertEG wrote:

Hmmm.   A GW letter to a creditor is made directly to the OC or CA.  It does not involve a CRA.    So how could a GW to the OC/CA  affect CRA reporting?. 

A GW should have no FICO impact.  It is not a dispute that removes it from scoring.

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[Naturell]

I did. It was stated on the letter a few times. I followed samples from one in this forum.   Am I to write another one and reiterate the facts? Although, IM concerned they would do it again. Im not sure what I should do at this point. 

Thanks for the imput.

[Junejer]

Naturell, you are not the first person on these forums to state that this happened to you, following a GW. If you send another one, make sure that you send it to another source within the company. If you send it to the same place, you will likely get the exact same result.

[Naturell]

You are correct.  That is exactly what citi did.  They addressed it as a dispute and now its listed as such on my report.  This account is in great standings except for 3 lates.  Once that dispute posted it appears it lowered my score.  But i will write them another letter and try to reiterate the fact that I am requesting a GW not disputing.Just looking for some kindness.

One more query pls!!! I purchased score watch back in October.  Just this week an inquiry from Usaab appeared.  I have not applied for credit since June 2007. Does anyone know who/what Usaab is?  I am baffled as to why this did not show up the last two times I received alerts?

Thanks for your time and information.

[Naturell]

Thank you all for your responses and help!!!