Consumer complaint received 2019-06-12
Product: Credit reporting, credit repair services, or other personal consumer reports — Credit reporting
Issue: Problem with a credit reporting company's investigation into an existing problem — Their investigation did not fix an error on your report
Company: Experian Information Solutions Inc. (CA)

CFPB COMPLAINT EXPERIAN, XXXX XX/XX/2019 My complaint with Experian Credit Reporting is their irrational and inexplicable FICO scoring which manifests in whiplash changes up and down : unjustified significant negative point swings, inconsistent negative/positive point swings, lack of logical justification for negative point swings reductions in scoring for high outstanding credit balances while they send me offers to apply for new credit cards that will only increase the credit balances already criticized. 

Inquiries that I can not control that have no monetary impact to my payment history, are allowed to lower my score. Inquiries should be removed from the calculation these are non-monetary actions given the hyper use of credit reporting to decide whether I will pay my water bill - even if I were to apply over and over again for new accounts, it doesnt say anything about how I will pay in the future. Its just flat wrong to include them in a scoring methodology. 

Then they blame Fair Issacs for the scoring. 

I argue that it is the credit reporting company that is rationalizing input from the creditors and feeding into the scoring models. You cant blame a 3rd party for the full cause of impact of your service up or down, to the consumer, if so, this is a business model needs to be scratched and rebuilt its HOCUS POCUS. How many products get to say, its not us but it is your report deciding our quality of life. 

This credit reporting FICO scoring doesnt just make me feel bad or ruin my day, or make me temporarily happy, it makes me more anxious, it obstructs my ability to qualify for a good job in an industry I have working in and excelled for years. The FICO score disqualifies me from hiring. The FICO score dictates how much I pay for certain services such as cable, phone, internet, utilities, healthcare, and worse is the access and cost of money ability and opportunities squashed in the lending arena to get credit, working capital, reduce the mortgage interest rate and strive for a financially balanced existence. 

The FICO score has been weaponized - to determine not only how I have paid in the past, but if I will perform on a job. This is completely unacceptable. There can be many reasons for credit reporting results, these take time to dispute, resolve. Yet, my right and need to work, doesnt wait its 24/7, 356 x a lifetime. The FICO score is creating a new exclusive society one that says, lucky you you are acceptable, you can have a job, you can have an account, security, mobility, any service or purchase at your fingertips. 

Then the downside, Oh NO, you dont fit our profile Reject Decline Dishonor impacting quality of life and security - even I would argue, in some instances, bring on premature death. 
All the financial activities and opportunities that directly impact my quality of life, ability to take care of myself financially and provide any stability in an unstable world, as an aging baby boomer, female, with gender and age discrimination all around. Yet, after years of trying, no matter what I do to improve, correct, fix, dispute and challenge my reporting, with major improvements and strides made, I am stuck in a POOR rating. 

Until recently, I just got a GOOD standing after years of effort, I was ecstaticthat excitement was quickly extinguished. 

Already in a matter of days, a decrease with no rhyme justification as my credit balances are decreasing. The only thing I see is an update on a dispute. This should not impact my score if I am in the dispute process. 

I have attached several photos of screen shots off the Experian file yesterday, showing a decrease in FICO when only positive activity was recorded to my file. 
EXHIBIT 1 email notice Congratulations Your Effort Has Paid Off! XXXX Score finally GOOD EXHIBIT 2 email notice Detection in Credit File Credit Balance Decrease EXHIBIT 3 email notice XX/XX/XXXX A Higher Credit Score is Around the Corner, Apply Today! 
EXIBIT 5 an immediate reduction in FICO XXXX EXHIBIT 6 closed accounts all Green EXHIBIT 7 open accounts all Green Recap : It is my belief my FICO score should be in the mid-700s. 
After seeing the drop to XXXX last night, I paid in full the XXXX XXXX XXXX at {$970.00}. This should bring my credit balances ratio down further ; leaves me with {$280.00} on XXXX XXXX against a credit line of {$750.00} ; on XXXX XXXX, {$910.00} against a credit line of {$3700.00}. 

XXXX XXXX deleted the Visa Card account/balance and trade line off the credit reporting systems due to an incorrect account status for Fraud ( they said ). They have yet to replace the credit line. 

As my balances drop, my worry then becomes, will I be penalized because I dont have enough balances. 

I am working on my XXXX XXXX {$6000.00} balance ( never late ) it has served its purpose. 

I am trying to refinance my mortgage loan and get away from XXXX XXXX XXXX, another bottom feeder mortgage servicer. 

My mortgage is current. 

My past close accounts all show 100 % paid Green. 

My current open accounts all show 100 % paid Green. 

My closed mortgages XXXX and XXXX, paid in full. 

I use monthly monitoring services to track and watch my activity and scoring. I open and close these services because combined, they are costly, but I am very attentive to my credit reporting. 

I use XXXX XXXX to fight the unscrupulous mortgage servicers and across the credit reporting trifecta, they have been helping to improve my scoring for a monthly fee. 

Even though in the State of California, they changed laws to not have credit be a source for hiring decisions, companies are all running them. As a contractor, there is some flexibility. I essentially say, you can run criminal, drug, but not credit, it doesnt have any impact on my job performance. But as my score gets up over 700, I will allow them if they require, it that is what I have to do, its still wrong, I am not my FICO score, but I need to work to support myself. 

Summary, As a XXXX XXXX company, Experian needs to think about who they are hurting to align with banks, card issuers, mortgage servicers, when we the consumer IS THE ASSET. It is our effort, our work histories, our purchasing power, our entire life effort that Experian relies on to create and sustain their global credit reporting empire. The damage that is done to our lives is not commensurate to the value and rationale we as credit reporting targets, give to Experian. This food chain is out of balance. 
Sincerely, XXXX XXXX XXXX XXXX XXXX XXXX XXXX, CA XXXX XXXX XXXX XXXX