Consumer complaint received 2021-02-10
Company: UNITED SERVICES AUTOMOBILE ASSOCIATION
State: FL
Product: Credit card or prepaid card
Sub-product: General-purpose credit card or charge card
Issue: Incorrect information on your report
Sub-issue: Account information incorrect

Complaint:
XXXX XXXX, XXXX, pulled all three credit reports, preparing to refinance our VA loan. Disputed inaccurate information pertaining to account balances. Only one company did not respond correctly ; USAA. Instead of updating correct balance information to XXXX, they responded with payments are made on time/no late payments. This is not what was disputed. I disputed incorrect balance on VISA account. XXXX XXXX, called USAA VISA to ask why balance had not been updated? Customer Service Rep responseafter 45-minutes of researching, etc.was, We update at end of the month. OK. That was less than a week. We could wait to apply for Refi. 

Today, we got notification from XXXX XXXX, XXXX FICO score dropped 78-points since last XXXX, XXXX XXXX! I checked online. USAA dispute had closed but disputed USAA balance was not updated. Called XXXX. They advised USAA balance had not been updated since XXXX XXXX, XXXX. Furthermore, USAAs response to dispute was not answered correctly. XXXX advised us to file a complaint with you. XXXX FICO is based on incorrect information. We will probably lose our excellent rating and our 2.25 % loan rate. 

Today, XXXX XXXX, XXXX, I called USAA, again. I was on the phone for 1.5-hours with another customer service rep who kept putting me on hold to do research. Finally, I Was transferred to an Executive Resolutions Team member. Her response to USAA not updating XXXX was this : We have 30-days from end of Dispute to respond to you. We will mail an explanation. Then, the credit reporting agency has another 60-days to respond. When I explained the dispute was ended, USAA did not respond to disputed credit balance but rather to payments are made on time this representatives response was the same. When I asked to speak with someone in the department that handles disputed information from credit bureaus, she said, We do not have a department like that I can transfer you to. Me : Really? Surely, someone, somewhere has to physically respond to these disputes? Her answer was the same : No such department. There is no person I can transfer you to who can correct USAAs mistake. However, on XX/XX/XXXX, USAA managed to update XXXX and XXXX with correct VISA balance. But not since XXXX XXXX, XXXX have they updated XXXX. 

Unfortunately for us, mortgage companies use the lowest score to determine interest rate. Our scores fell from XXXX ( excellent ) to XXXX ( good ) in five-days! All because USAA did not properly answer the disputed subject. We have been a member of USAA since XXXX, and been with their bank since opening in XX/XX/XXXX. 

There has to be accountability. This is going to adversely affect our interest rate and our mortgage payment. We are now retired, on a fixed income. Our income is 25 % of what it was last yearbefore taxes. Refinancing was supposed to reduce our monthly payment by {$630.00}. Now, were worried we wont qualify for 2.25 %. 

We have done everything we can to resolve errors on our credit reports, spoken with XXXX and multiple times with USAA to correct their error. Weve received little assistance from XXXX and zero from USAA.

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