Consumer complaint received 2023-09-14
Company: NAVY FEDERAL CREDIT UNION
State: FL
Product: Credit card
Sub-product: General-purpose credit card or charge card
Issue: Incorrect information on your report
Sub-issue: Account status incorrect

Complaint:
I am writing to formally request the correction of information within my credit report as well as the removal of inaccurate statements and hard inquiries. I am making this request in accordance with the Fair Credit Reporting Act ( FCRA ), specifically referencing 15 U.S.C. 1681a ( a ) Subsection I, 15 U.S.C. Chapter 41, Subchapter I, Part D, and 15 U.S. Code 1681s2. 

Firstly, I would like to address a statement on my credit report indicating that I owe on a credit card. To my knowledge, there is no valid outstanding debt on any credit card that should be reported. I kindly request that this inaccurate statement be promptly removed from my credit report. 

Furthermore, I am concerned about my credit utilization, which appears to be higher than desired. I understand that a healthy credit utilization rate is generally considered to be less than 5 % of available credit. To align with this standard and improve my credit profile, I respectfully request that my credit utilization be adjusted to reflect a lower percentage. 

In addition to these issues, I have noticed that there are several hard inquiries listed on my credit report. These inquiries were made by various creditors, and I have no recollection of authorizing or initiating any of these credit inquiries. I believe that these hard inquiries are inaccurate and should be removed from my credit report immediately. 

I wish to bring to your attention that, according to the FCRA, hard inquiries on a credit report should only occur with the explicit consent of the consumer. Given that I have not applied for credit or engaged in financial transactions that would warrant these inquiries, I am led to conclude that these entries are not accurate. 

In accordance with the FCRA, I request that your agency conducts a thorough investigation into the legitimacy of these hard inquiries. This may entail reaching out to the entities that made these inquiries to verify the authorization. I also kindly request that you provide me with a written explanation of your findings, including any actions taken to rectify these issues. 

The FCRA specifies a 30-day period for your agency to complete this investigation and respond to my request. If, within this timeframe, you are unable to verify the legitimacy of these inquiries, I request their immediate removal from my credit report, as mandated by federal law. 

Please be advised that, in the event these issues are not resolved satisfactorily, I am prepared to initiate the second process, which involves providing an invoice for all violations. Each violation could potentially result in a fine of up to {$1000.00} per violation, as allowed by law. 

I can provide all the inaccuracies and hard inquiries in question for your reference, if needed. 

I appreciate your prompt attention to this matter and your commitment to ensuring the accuracy and fairness of consumer credit reporting. Please do not hesitate to contact me at XXXX or XXXX if you require any further information or clarification. I anticipate a swift resolution of these issues and the removal of inaccurate information from my credit report. 

Thank you for your cooperation. 

Sincerely, XXXX XXXX

Company public response: Company believes it acted appropriately as authorized by contract or law
Company response to consumer: Closed with explanation