Consumer complaint received 2021-07-20
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: U.S. BANCORP (MA)

To Whom It May Concern, I am writing this letter to dispute the recent reporting by US Bank to XXXX, XXXX  and XXXX as a misrepresentation of my creditworthiness. This reporting has significantly impacted my credit score.I am requesting that the information be reclassified as a misreport so that my credit score returns to its former higher score. 

On XX/XX/XXXX, I was informed by my company 's IT professional that hackers have your credit card number, home address, telephone number, DOB, insurance details, etc.. 
Immediately after receiving the email I called the only two credit cards I have -- US Bank and XXXX XXXX, to cancel the cards. I do not have written proof of these calls as they were only telephone calls. 

The XXXX  card was immediately cancelled, and a new XXXX  card was issued. I rarely use the XXXX XXXX XXXX XXXX  ( US Bank ) card, so I did not notice that the new XXXX card was not replaced. 

As soon as my bank opened that morning I closed and reopened both savings and checking accounts to protect my personal financials. I also contacted a bank that had recently preapproved me for a mortgage in case any of the activity could impact my credit score. At that point, I thought I mitigated the risk and could move forward without negative impact. 

On XX/XX/XXXX I received an alert from XXXX XXXX that my credit score had gone down nearly 100 points. When I checked XXXX XXXX, I found that US Bank had reported my account for non-payment. I immediately called US Bank and paid the unpaid balance of {$730.00}. I always have all payments automatically debited from my checking account. I asked that my account be set up for autopay while I was on the phone, but the service representative could not make the change. 

On XX/XX/XXXX I was alerted once again by XXXX XXXX that US Bank reported to the credit bureaus that my credit limit for US Bank dropped to {$800.00} from {$11000.00}. This report lowered my credit score another 100 points. On this date I filed a dispute with US Bank via overnight mail and via fax, per their instructions. On XX/XX/XXXX they replied with no change to my credit score and no explanation as to why my balance was suddenly dropped from {$11000.00} to {$800.00} for a one-time offense. Prior to the faxed correspondence I contacted US Bank and spoke with representatives on the phone on XX/XX/XXXX, XX/XX/XXXX, and XX/XX/XXXX to no avail. 

Below is a brief snapshot of my financial history : o I have never carried a balance with my XXXX  ( US Bank XXXX credit card until I thought it was cancelled after the identity theft threat. 
o I have {$0.00} debt o No credit card debt o No student loans o No auto Loans o No mortgage or home equity loans o No other loans oI have not had a late payment since my ex-wife used to manage our finances in XXXX I remarried last year and am in the process of securing a construction loan/mortgage with my wife. I would greatly appreciate if US Bank could address this issue with all the credit bureaus so I may get the mortgage rates we were discussing with our banker in XXXX of this year. This is not possible after having my credit score lowered by 200 points in 2 months. 

The root cause of these decreases in my credit score was the identity breach in early XXXX and my belief that the XXXX card had been suspended at that time. I was saving more than {$3000.00} per month and carrying {$0.00} debt since XXXX. I would not have knowingly allowed my credit card to be delinquent while trying to secure a construction loan/mortgage. 

I respectfully request that the CFPB Team classify the previous reports as misreports based on the fact that they misrepresented my actions or inactions and have negatively impacted my credit worthiness when in fact my creditworthiness has not diminished over the past 6 months. 

Finally, I ask that this matter be addressed quickly so I may secure the a construction loan with my prospective bank at a competitive rate. Thank you for your consideration, time and effort.