Report Advice
What you need to know about this crucial financial document

Recent late payments hurt credit scores the most

Posted on Dec 04 2013 by

Dear Experian,

Why has my credit score dropped 42 points? There is a late payment on one of my cards which has since been brought current, and four of my accounts have been paid off and have a “0” balance. Why doesn’t my score increase as quickly when I pay off accounts as it does when I miss a payment?

– KRS

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A creditor can request that an account be removed from your credit report

Posted on Nov 20 2013 by

Dear Experian,

Can a creditor request to remove an account from my credit report? Also, how long would it take for the removal to take effect?

– JKJ

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Voluntary repossession would have seriously damaged credit scores

Posted on Nov 20 2013 by

Dear Experian,

I am trying to trade-in my car; however, I am upside down on my current car loan. If I trade it, my payments will be really high. The salesperson is trying to convince me to do a voluntary repossession on my current vehicle. She said that it would not be a big hit on my credit and my new car payment will then be lower. I told her that was something that I really had to think about and research. I don’t know much about what she was talking about, and I did not want to make an impulse decision.

– NTN

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Mortgage loan not being reported after declaring bankruptcy

Posted on Nov 20 2013 by

Dear Experian,

We filed bankruptcy two years ago and want to either refinance our home or possibly buy a new home. When the bank pulled our credit they said that our existing mortgage is not being reported on Equifax, Experian or Transunion. We have all of our monthly statements from our lender verifying that we have been paying on our house for the past 2 years. How do we show this information to you so you can start reporting all of our mortgage history on our credit report?

– ETL

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An account update by your creditor will not change when it is deleted

Posted on Nov 20 2013 by

Dear Experian,

If a negative item is past seven years on my report and the creditor updates it, will it ever come off my report?

– JCP

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Multiple inquiries when shopping for an car loan

Posted on Oct 30 2013 by

Dear Experian,

I went car shopping one day and now there are lots of inquires that say they will be on my credit report until 2015. Is it right for all these inquiries to be on my report so long from just one day of shopping for a car?

– RLM

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The meaning of “too few accounts paid as agreed”

Posted on Oct 30 2013 by

Dear Experian,

How can “too few accounts currently paid as agreed” be a reason for an adverse effect on my credit score when I currently have no unpaid accounts?

– MIJ

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How utilization rate affects credit scores

Posted on Oct 30 2013 by

Dear Experian,

I have been led to believe that a component of one’s overall credit score is the ratio of current credit card balances to one’s total available credit. If one had three credit cards, is each card’s ratio calculated individually, or is it one’s total credit card balance compared to one’s total available credit? Also, I’ve heard that the important thresholds are 30 percent and better yet, 10 percent; is that correct?

– RLS

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Changing your address on your credit report

Posted on Oct 30 2013 by

Dear Experian,

How do I change my address on my credit report?

– GLP

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National Protect Your Identity Week reminds us to be proactive in preventing fraud

Posted on Oct 24 2013 by

As National Protect Your Identity Week (Oct. 20–26) nears an end, think about how you can actively protect your identity. Here are several ways to use your credit report to identify unauthorized activity and stop possible identity fraud before suffering potential financial loss.

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The information contained in Ask Experian is for educational purposes only and is not legal advice. You should consult your own attorney or seek specific advice from a legal professional regarding your particular situation. Please understand that Experian policies change over time. Posts reflect Experian policy at the time of writing. While maintained for your information, archived posts may not reflect current Experian policy. The Ask Experian team cannot respond to each question individually. However, if your question is of interest to a wide audience of consumers, the Experian team will include it in a future post.