Consumer complaint received 2019-07-22
Company: CAPITAL ONE FINANCIAL CORPORATION
State: WA
Product: Credit reporting, credit repair services, or other personal consumer reports
Sub-product: Credit reporting
Issue: Problem with a credit reporting company's investigation into an existing problem
Sub-issue: Their investigation did not fix an error on your report

Complaint:
I filed for bankruptcy in XX/XX/XXXX. I have endured the penalties of a low FICO score for the past 10   years, including high interest rates, high insurance rates and impacts to employment. I was looking forward to having the bankruptcy finally removed from my credit report and having a high score and low interest rates, but my score has barely moved since the bankruptcy dropped off my credit report. Today, according to XXXX my score is XXXX. 

I contacted XXXX  via Consumer Financial Protection Bureau on XX/XX/XXXX, but XXXX refused to take responsibility for the FICO score they are providing to lenders, saying it is the fault of the individual lenders. Therefore, I am including CreditWise and Capital One in my complaint that XXXX  and CreditWise, a credit reporting company of Capital One, are artificially keeping my credit score low and continuing to punish me for my bankruptcy. ( Attached, please find snip 1 ) As mentioned earlier, there was no increase in points after the bankruptcy was dropped from the credit report. However, as shown in snip 2, XXXX  and Creditwise decreased my credit score by 36 points. 

Snip 3 shows the reason for the decrease in points is due to increase in debt. But as mentioned before, {$110000.00} is not due to personal loans, but to student loans, on a income driven repayment plan with XXXX. My monthly payment for this {$110000.00} is {$120.00}. 

The increase is debt is also not correct because it does not take payoffs into consideration. I took out a new car loan for {$13000.00} on XX/XX/XXXX, after my XXXX   XXXX XXXX was totaled in a car accident, which wasnt my fault. That means the loan for the XXXX was paid off, which is not included as a point increase. A debt consolidation loan taken out for {$7000.00} on XX/XX/XXXX that was completely paid off early on XX/XX/XXXX also was not shown as having positive points. There also seems to be some confusion about a car loan that I took out on XX/XX/XXXX. This loan was never actually funded. As you can see from the below clip, it was canceled the same day it was taken out. Therefore, this loan should not be a factor in my credit report score as shown by Snip 4  After submitting my complaint to XXXX, I rechecked my CreditWise account today, XX/XX/XXXX. It shows that my score increased by 2 points, because of debt reduction, but no other positive points, even though it shows that 3 recent inquires are no longer on my record, as shown by Snip 5 And somehow, since filing my complaint on XX/XX/XXXX, my credit score has now been dropped by 43 points, instead of 36 a week ago, as shown by Snip 6 How can a credit score drop by an additional 7 points when all I did was pay bills on time? ( Actually, Im not sure if the drop was by an additional 43 in a week. ) Perhaps the CreditWise  simulator can explain that. I used a CreditWise tool called a simulator, in which you can enter different scenerios to see how it would impact my credit. Paying on time for 2 years, LOWERED my credit score by 14 points. Please see Snips 7 and 8. 

If paying on time lowers a persons credit score by 14 points, which is a positive thing, one must consider that CreditWise and Capital One are artificially keeping my credit score low. 

As I stated in my previous complaint, over the past 10 years, I have had two late payments, which were due to a debt consolidation loan in XX/XX/XXXX. TransUnion, CreditWise and Capital One do not consider having a good repayment history is a good thing. I would think that only having two late payments in 10 years, after filing for bankruptcy shows character and a willingness to make sure their credit improved. And yet, XXXX, CreditWise and Capital One are not acknowledging any positive steps I have made to improve my credit.

Company response to consumer: Closed with explanation