Consumer complaint received 2016-09-21
Company: EQUIFAX, INC.
State: TN
Product: Credit reporting
Issue: Improper use of my credit report
Sub-issue: Report improperly shared by CRC

Complaint:
My complaint centers around my credit scores from each of the credit bureaus. What I like to know is can a consumer dispute his or her credit score? Secondly, if the answer is " no '' why not? The score is derived from credit information from your credit report based o privacy laws I did not authorize the creation of this score based on my credit. Therefore, I consider credit scores to be an invasion of a consumer privacy. No credit representative can fully explain to me what specifically causes my credit score goes up and down in a specific category. For example, I had a credit score recently of XXXX. I ordered this score from Equifax. Since that time, approximately 30 days after I received this score it went down to XXXX. I lost XXXX point. I called the Equifax Customer Service and was told it varied as to why it went down. I had no way of knowing what I needed to do specifically to get the XXXX point back. A judgment, several charged- off accounts had been removed, along with over XXXX collection accounts have been deleted during this period. In my opinions, my points should have increased overtime, but they did not. Mind you point were taken away when these derogatory items appeared on the credit report, but when they were removed/deleted no points were add back to my score. As a result, I did not understand the representative explanation, and requested to speak to a supervisor who the difference. Now, I understand certain category such as credit utilization can affect your score and other things I get that! My score in this area remained constant. The credit score to my knowledge is made up of five distinct area with each representing a percentage of ones credit score. 1. Debt Usage. 2. Credit Utilization, 3. Age of Credit, Mixed Credit, 5. Inquiries. Each of these carries a percentage of your score. If my credit utilization is 35 % of the score its already calculated in the credit score in a negative way, if I am maxed out on my total credit. I get that. However, when you 've had all of the above referenced items removed/deleted from your credit report, then whatever the number score was that deceased the score the same number should be added back. This is the dilemma I 'm having with scoring model used by the credit reporting agencies. It needs to be corrected so that consumers can specifically know what area caused the drop or addition to ones credit score. Id, age of credit history, inquiries and the specific points +/-related to these areas. I 'm frustrated and made not be fully explaining my position. So, I 'm leaving my phone number with this complaint for further clarification. My name is XXXX XXXX. I can be reached at XXXX, and my email address is XXXXXXXXXXXX. I have a lot more to say regarding credit scores. Most consumers do n't understand have they work, and each credit reporting agency now have their own besides the FICO score which is widely used, and proprietary. They say understanding your score and maintaining it is a skill. I believe I have some idea how it should work. For example, if inquiries are 10 % of my score, and XXXX were removed, Now I do n't have any, My score is XXXX. Then 10 % of XXXX equals XXXX or XXXX pts. To me, the XXXX pts. should be add to XXXX which gives you a score of XXXX, as an example. And if my credit utilization decreased by 35 % meaning my credit debt is down to XXXX. In my view, the credit score should be 35 % x the current score of XXXX, for argument sake would be XXXX out of a XXXX of XXXX, and so on for each specific percentage area of credit. These credit score models affect interstate commerce in maintaining high interest rate among consumers. I look for your response to my complaint and looking forward to your phone call if clarification is need on some issues discussed. I have a friend who has no credit history at all, but collections accounts. Their score XXXX! Go fig.

Company response to consumer: Closed with explanation