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

Debt consolidation might help, but also could hurt your credit

Posted on Jul 17 2014 by

Dear Experian,

Does debt consolidation for credit cards with high interest rates help your credit?

– SRO

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Obtaining a free report after being declined or adverse action is taken

Posted on Jul 17 2014 by

Dear Experian,

I was approved for a credit card in October 2013. I have never exceeded the limit and have made all payments on time. I just received a notice that they are reducing my credit limit to the same amount as my current balance on the card. The reasons state, “Derogatory public record information, too few accounts currently paid as agreed, length of time of credit established, and lack of recent installment loan information.” One of the other credit reporting companies will not release a free credit report. This doesn’t seem right to me. What should I do?

– PSJ

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Original delinquency date determines when repossession and collection account will be deleted

Posted on Jul 02 2014 by

Dear Experian,

I had a repossession in July 2006, but on my credit report it states date reported January 2013. A collection agency owns the account now. When will it be removed from my history? Is it based on the date of initial delinquency or the date reported?

– TMF

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Asking your lender to reduce the credit limit on a credit card could hurt your credit scores

Posted on Jul 02 2014 by

Dear Experian,

I have one credit card with a zero balance and a $10,000 limit. Will my credit score be hurt if I reduce my limit to $5,000?

– CGC

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No credit history despite having several open accounts

Posted on Jul 02 2014 by

Dear Experian,

I recently tried to apply for a car loan. They told me I was denied because they could not find any of my credit history information. I have a few credit cards from department stores, so I’m not sure why this happened. What can I do to have my information updated?

– BMR

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Contact your lender to make sure account is closed before initiating a dispute

Posted on Jun 04 2014 by

Dear Experian,

How do I dispute an account on my report? Experian is showing an account open that has been closed for two years.

– SCH

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Late payments during mortgage modification can be reported

Posted on May 29 2014 by

Dear Experian,

I have never been late with mortgage except the two months I was working on a mortgage modification with my mortgage company. I was told not to pay my mortgage payments until a determination was made, yet my account shows I was two months late. Why?

– SKV

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Selling or transferring an account to a new creditor does restart the deletion time period

Posted on May 27 2014 by

Dear Experian,

A creditor of mine sold my credit card debt to another company after seven years. Do I now have to wait another seven years to have it removed from my credit reports?

– LDE

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Requesting corrected report be sent to creditors

Posted on May 21 2014 by

Dear Experian,

Whom do I contact to request a corrected credit report be sent out to creditors? I was an identity theft/fraud victim and there were fraudulent inquiries on my report which have been removed.

– TNT

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Closing store credit cards could affect your credit scores

Posted on May 19 2014 by

Dear Experian,

Can closing a few of my department store credit card accounts affect my credit scores if I have established good credit and have high credit scores? My husband wants to eliminate our higher interest rate cards.

– LTB

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