Accounts not being reported as correct type (C.C. <--> Installment)

[elm1984]

I have several accounts showing on my Equifax report as the wrong type. Everything is opposite!?!? Correct on Transunion and Experian.

 

1-Auto Loan ---> credit card $10,000 balance

 

2-Discover credit card ----> installment loan $2 balance

 

3-Citi credit card ----> installment loan $2 balance

 

4-Credit Union loan (secured) ---> credit card $500 balance

 

5-Credit Union credit card (secured) ---> installment loan $2 balance

 

 

I also have an Amex that was opened about 7 weeks ago that is about to cycle for the second time that hasn't shown up on any of the three bureau reports. Should I be worried about this?

 

 

 

[Kat58]

Where are you getting this info? CK, or similar? Probably a glitch, wherever it's coming from.

 

This is normal for amex.

[AustinGuy907]

AMEX is always slow to report even if you have an existing card with them. 2-3 statements before they start showing up to the party.

 

Considering the EQ breach it doesn't surprise me things are being dyslexic as their data is probably corrupt for some files.

[Gail]

I've got the same thing on my Equifax report on all my CCs. I don't have any open installment loans so can't speak to those. I checked back on some older reports and they've always reported Barclay's that way but the others seem to be a new glitch of some kind. My reports are from Credit Check Total.

[elm1984]

Info is coming from CreditCheckTotal. I don't know if showing this way is new or if I have overlooked it in the past, none of the accounts are very old. My SSN was one included in the breach.

 

 

Good to confirm about Amex. I figured but wasn't certain.

[elm1984]

Gail- good thinking, I looked back to June and they've all been flipped that far back. I don't have my Equifax before then.

 

Wouldn't this skew things and make it look like I have high credit card balances? Maybe the low installment loan balances would equal it out but I don't know...?

[hegemony]

get paper copies of your four major credit reports mailed to you by each cRA.

[centex]

Concur with hege...anything on a third-party tri-merge is all but guaranteed to be munged. You NEVER want to base decisions on what comes from that stuff...

[Rogue]

Info is coming from CreditCheckTotal. I don't know if showing this way is new or if I have overlooked it in the past, none of the accounts are very old. My SSN was one included in the breach.

 

 

Good to confirm about Amex. I figured but wasn't certain.

This is a constant and typical issue that I have with CCT and suspect that it is one of their numerous IT glitches. I NEVER look at my CCT reports, there are simply way too many glitches with their credit reports, they are useless to me! I would rather have NO information than incorrect info. I ONLY use CCT for their FICO 8 Scores!

 

As soon as I read the OP, I instantly knew you were using CCT and I have called them on this issue many times, they just don't care.....

Edited October 17, 2017 by Rogue

[Gail]

Gail- good thinking, I looked back to June and they've all been flipped that far back. I don't have my Equifax before then.

 

Wouldn't this skew things and make it look like I have high credit card balances? Maybe the low installment loan balances would equal it out but I don't know...?

It's doubful elm. One of the things counting against me on my reports (everywhere) is not having any open installment loans and my total utilization always agrees with what I allow to report (generally between $1500 and $2000).

 

I have paper reports somewhere around here Hege, just didn't feel like looking for those also to see how they compare for Equifax.

[Aahz]

Wouldn't this skew things and make it look like I have high credit card balances? Maybe the low installment loan balances would equal it out but I don't know...?

 

No, because it's CCT's computer which is screwing up how it displays the data.

So your scores are not calculated off what CCT displays to you, but independently by FICO from the data on your paper reports.

[elm1984]

I pay monthly for CCT (1/2 price), are there any better companies out there? I feel like its work $15-$30 a month to at least feel like I have constant access to my credit reports to keep an eye on them.

[cv91915]

I pay monthly for CCT (1/2 price), are there any better companies out there? I feel like its work $15-$30 a month to at least feel like I have constant access to my credit reports to keep an eye on them.

 

If all you want to do is monitor basic changes to your reports there are plenty of free ways to do that. Ignore the skores, though.

[Burgerwars]

I would be glad if a credit card or two reports as an installment loan. It adds to my credit mix, especially since my mortgage will be paid off soon.

[Tyra]

 

Wouldn't this skew things and make it look like I have high credit card balances? Maybe the low installment loan balances would equal it out but I don't know...?

 

No, because it's CCT's computer which is screwing up how it displays the data.

So your scores are not calculated off what CCT displays to you, but independently by FICO from the data on your paper reports.

 

+1

I have the same thing on CCT with Equifax and it did not change my FICO scores from CCT. So it's pretty clear that it is a CCT display issue. Doesn't affect the FICO score you get from them.

Edited October 20, 2017 by Tyra