Consumer complaint received 2020-08-05
Company: Experian Information Solutions Inc.
State: OH
Product: Credit reporting, credit repair services, or other personal consumer reports
Sub-product: Credit reporting
Issue: Incorrect information on your report
Sub-issue: Old information reappears or never goes away

Complaint:
I have been trying to correct problems with credit agencies that report the same thing over and over after years it still shows up in the factors of my credit score. I wish to make a complaint against Experian, XXXX and XXXX. First of all i have excellent credit and for years these agencies were reporting very high scores and still report high scores. Here is the problem and i think this is unethical and unfair scoring practices. When i contact them i am told its not going to affect your credit much ... just don't worry about the small drops in scores. And this primarily happens always with fico score 8 Experian and fico score 8 XXXX. First, they were reporting to my creditors scores anywhere from XXXX to XXXX. In the last year these agencies have dropped my XXXX fico 8 from XXXX to XXXX and if the score was XXXX it is now XXXX with 3 of my creditors. If the score was XXXX it is now XXXX with lenders. Now, this week Experian is starting to do this same practice just not as extreme, they had been reporting with Experian fico 8 XXXX now it is XXXX with one lender. I see this as a major problem since my entire credit profile has not changed. And i have only one inquiry and that was XXXX. My score factors are always the same even with the higher scores and now lower scoring models. Always same two factors are always reported to lenders : 1. lack of recent installment loan information. 2. length of time accounts have been established. I have not had lenders take adverse action against me yet, but if fico 8 scoring models continue with this trend it could very well happen. My two goals are to get the credit reporting agencies to stop messing with the scoring models and lowering a customers score when i have excellent credit. I have worked hard to maintain the higher scores NOT LOWER THEM FOR NO REASON. Nothing has changed in my credit files. My other goal is can they please stop looking for made up reasons that i listed above. I am not taking an installment loan out to try to get a score increase when i do not need the loan. Length of time in my opinion is up for debate : they currently show 12 1/2 years oldest account with average age of accounts 6 years 5 months. Main goal is i want my scores put back where they use to be on the high end upper XXXX and depending on creditor XXXX to XXXX range. This only happens with agencies using fico 8 scoring model ... this model is terrible and drags scores down for no reason. WHY?? AND WHY IS THIS ALLOWED?? It seems like they want you to always struggle to get back over the XXXX mark. This would be understandable if something negative was reported on my credit report but they have no negatives just possible scoring factors that say may not have impacted your score since you already have a high fico score. Great ... .then why do they keep doing this fico 8 scoring method which lowers your score each time you get it high again. Please contact the credit reporting agencies and tell them to stop doing this to me and other people. Its not fair they are allowed to continue this scoring method. Can you please make the credit reporting agencies using this method put my scores back where they were and stop lowering them at will for no reason. This has to be a violation of the consumers right to be allowed to maintain high credit reporting scores. Why are agencies allowed to score people badly for no reason? A side note i never see this with lenders who use the fico score 9 model. Please help fix this issue as i do not want possible adverse action from creditors or other lenders who may see them lowering scores. Thanks in advance for your help in this matter!

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