Consumer complaint received 2018-10-11
Company: Experian Information Solutions Inc.
State: SD
Product: Credit reporting, credit repair services, or other personal consumer reports
Sub-product: Credit reporting
Issue: Improper use of your report
Sub-issue: Reporting company used your report improperly

Complaint:
On XX/XX/2018 I called Experian - ( Credit reporting agency ) to ask them what I could do to increase my credit score. They helped with a few things, but one thing I had issues about. They told me a big part of my credit problem was caused by my credit cards. They told me that my credit score was being lowered because of the outstanding balances on these credit cards at the end of the month. They told me that the balances on these credit cards at the end of the month were to close to my credit limit. I explained to them I pay on these cards every month, I use these cards every month and was told by the credit card company 's the more I use the cards the better my credit score would get. I said, I have your credit report right here, It shows that everything is up to date & no late payments anywhere, yet you tell me that this is hurting my credit rating. He said, yes. Then he explained to me that if I would get another credit card and use it to lower the my outstanding balances on my other credit cards this would really improve my credit score. He said this is the way it is done, is there anything else I can help you with. I said no. He said, goodbye. 

Now my complaint is this, None of my credit card company 's warned me about this. I was never told that by using the credit that they were providing, that this would hurt my credit score. The main thing that even makes this even worse, The credit card company 's are supplying Experian all the information on your credit cards. How & Why can your credit card company 's supply all this information to Experian knowing that this is hurting your credit score? They knew that it would hurt your credit score, yet there was never any warning given to the card holder. Can this be fair to the American people? With this system they can adjust your credit score any way they please. " With out warning '' The credit card company 's should have to give some kind of warning or not give out all that information. Why tell them what your credit limit is? None of there business. It is suppose to be private between you and your lender.

Ok, lets look at a scenario - I go into a bank to get a loan. I explain to the banker why I need the money. We discuss how much? I tell him {$5500.00}. The banker looks everything over and tells me the most he can loan me is {$5000.00}. I say, that will work. I get the loan. I am making all my payments on time and everything is working great. Now, The bank calls Experian, tells them I borrowed the full amount that I could borrow. Not 50 % or 60 % of the money, 100 % of what they could loan me. I check my credit score with Experian, it went down, this is because I borrowed the full amount I could from the bank instead of just part. This is what is happening. I want to know " IS THIS FAIR TO THE AMERICA PEOPLE ''? Is it fair to let Experian & credit card company 's working together to do what they want with your credit score?

I was brought up old school, I get a loan, I make my payments and my credit score goes up, not down. Your credit score goes down when you miss your payments or are late on your payments.

Company public response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
Company response to consumer: Closed with explanation