Consumer complaint received 2022-02-21
Company: TRANSUNION INTERMEDIATE HOLDINGS, INC.
State: OR
Product: Credit reporting, credit repair services, or other personal consumer reports
Sub-product: Credit reporting
Issue: Incorrect information on your report
Sub-issue: Account status incorrect

Complaint:
Today, XX/XX/2022, I received a lower credit score from the Transunion Credit Report agency, which numerous credit card companies that I have, use their service. Transunion identified a recent loan I've obtained and received. The consumer loan money I received was used to pay off my revolving credit card balances. However, I've been noticing the Transunion Credit Report agency rapidly reports new credit cards and new loans. Yet, they're extremely slow when reporting consumers ' pay-off credit card balances and consumers ' updated current open-to-buy dollars. This causes a consumer 's credit score to be deficient ; thus, it affects the consumer 's ability to obtain employment, a new home, a new car, a new business loan or a personal consumer loan, etc... 

Frustrated with their business method, I went on the Transunion Credit Report to file a dispute of what they're currently reporting about my current credit status. Their website is designed to allow me ( the consumer ) to submit only XXXX documents ( proofs to show their reporting errors ). For example, suppose Transunion showed I have XXXX incorrect balances on my credit cards. In that case, I must be allowed to submit XXXX proofs of my payment or my balance statement of those credit cards to show my XXXX balance and my current open-to-buy dollars. 

As I've mentioned before, when disputing an inaccurate credit report about me, Transunion claims it takes them at least XXXX days to update my credit report. That's unacceptable for me! Currently, they can report I have obtained a new credit card or a new loan in less than XXXX days. In that case, I should be able to see my current credit card balance, open to buy dollars from that credit card company simultaneously ; if there are plusses to our credit history, then there should be minuses to our credit history at the same time. Transunion 's business method is to report my new loan, but they also kept my old credit card balances at the high and my open-to-buy at the lowest amount and claimed that to be current ; this caused my credit score to drop drastically. This is not the first time it has happened to me, and I believe this has happened to millions of innocent consumers. 

I'm sure that Transunion Credit Report agency and other Credit Report agency 's method of reporting consumer 's credit history is outdated and showed an extreme imbalance towards the consumers. These credit reporting agencies know not all consumers have the time or energy to look into their credit report and dispute a discrepancy every time one appears on their account. 

I expect CFPB to look into their imbalanced business method of reporting the consumer 's credit report and assist these agencies in coming up with more equitable information for all American consumers. We are honest consumers, and we are being abused and discriminated against by inaccurate reports of our credit history. It all started with the Transunion Credit Report agency and many others.

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 non-monetary relief