Product: Credit reporting, credit repair services, or other personal consumer reports

Both TransUnion and XXXX decreased my credit score within the last week downward by 12 & 13 points. The reasons reported by these agencies was that my credit utilization rate had increased from 9 % to 20 % WHICH IS SIMPLY NOT TRUE. 

I have three credit cards ; two with XXXX XXXX ; one with XXXX XXXX XXXX. My credit usage percentage is 9 % as reflected by both agencies own numbers. My total credit available actually increased by over {$2000.00} during the last 30 days to a total credit line between the 3 cards which is {$500.00} + {$950.00} + {$4500.00} = {$5900.00} credit limit. My total debt has not exceeded {$600.00} during the last 60 days, which would put my usage at about 9 %. I KNOW this because I Monitor my accounts daily and I herein challenge their numbers and DEMAND they be held accountable. 

Both agencies reported my credit balances incorrectly. While one card went down, the other went up slightly ; yet the bureaus reported both at their higher value as if they were that amount simultaneously -- which never happened. I invite you to pull my actual daily records from XXXX XXXX and XXXX XXXX XXXX and examine my daily credit balance against my credit line daily. It is not and HAS NOT been at 20 % during the last 60 days as these two agencies would have you believe. These two agencies took the high from two different cards on two different days and reported them as if the occurred at the same time -- which they did NOT. 

Because of their misrepresentation of my credit usage, both of these credit agencies lowered my score as stated above ; which hurts my ability to get loans at a better rate. I want this CORRECTED immediately. AND ... there needs to be some ACTION against such incorrect reporting. 

This is a prime example of the insidious nature in which credit bureaus artificially and purposely lower credit scores of consumers, affecting their lives negatively and without just cause -- except to benefit the financial institutions who Pay for the credit agencies. 

Credit Scores are held artificially low because such practices benefit the financial institutions that use lower scores to charge larger finance charges. 

ALSO, the exact mechanism by which credit bureaus calculate your score is held as a tight secret. Why should this be? There 's no reason to hide this information from the consumer. After all, it is the Consumer that bears the impact of these practices. Consumers deserve to be able to acurately and without guess work understand HOW their score is calculated and to know accurately how they might Positively affect their scores. This needs to be changed and veil of secrecy that only benefits the credit agencies lifted. 

Accurate credit scores could be utilized for the benefit of the consumer and financial institutions. However, scores need to more accurately reflect the overall financial state of the consumer. 

CFPB has done a wonderful job of exposing some of the injustices of our financial institutions relative to consumers and deserves immense credit for that work. I hope that will continue. 

Thanking you in advance, XXXX XXXX XXXX