Consumer complaint received 2024-08-14 00:00:00
Product: Credit reporting or other personal consumer reports — Credit reporting
Issue: Improper use of your report — Reporting company used your report improperly
Company: Experian Information Solutions Inc.
State: CA

Complaint narrative:
On or about XX/XX/year>, I received unsolicited advertising via US mail from XXXX  ( XXXX XXXX XXXX, XXXX XXXX  ). This mail stated in bold print : " You're Pre-Approved '' and went on to say " Get your FREE quote -- without impacting your credit score -- at XXXX '' I followed instructions based on the large type offer. The website CONFIRMED that they would, indeed, provide a quote for a loan, without any reservation. ( Note : the advertising came with a page of text too small for a XXXX XXXX XXXX to read. I could not read any of the reservations regarding their offer. ) Based on this promise, I entered into an agreement with XXXX XXXX XXXX to provide private information in exchange for the PROMISE of a quote for a loan, and a PROMISE to not affect my credit score.

I fulfilled my side of the bargain, providing many web pages of detailed private information regarding my contact information, asset ownership, income, and other PRIVATE information of value to companies and advertisers.

After fulfilling ALL of my obligations, XXXX XXXX refused to fulfill theirs. 

I did NOT get a quote. Instead I was declined -- and evidently I was declined based on information they already had before they made the offer of a Pre-Approved Loan!

They made it EXCEPTIONALLY DIFFICULT to obtain a " Adverse Action '' letter, but I was able to find it only to discover that it had no new information not available to XXXX XXXX before offering me a PROMISE of a quote for a rate for a loan.

This fraudulent advertising damaged me in the following ways : 1. I was damaged by providing private and detailed information based on the offer they made. This PRIVATE date has monetary value. They are in possession of MY information, but did not fulfill their obligation in return.

2. I was damaged by taking time to fill out the form based on their request. My time is valuable, but based on their fraudulent promise, I gave them my valuable time.

3. I was damaged because they actually did access my credit score, and damaged my credit score in the process. Their " Adverse Action '' letter indicated they accessed credit reporting agencies and declined in part because there were too many applications for credit on my credit report, their application for credit included. Further, they reported that my loan application was declined, making it more difficult for me to obtain a loan elsewhere.

4. Because of they FRAUDULENTLY broke their promise not to impact my credit score, I will now have to pay 24 % to credit card companies on {$60000.00} worth of debt, when the national average heloc loan is 9.37 % ( according to bankrate.com, as of XX/XX/year> ). Thus I am paying an additional 14.63 %, or {$730.00} per month ( or {$8700.00} per year ) for the next 7 years that I would not have to pay if I obtained an average Heloc from XXXX XXXX or any other lender that will decline my application due to too many requests for credit information.

This fraud is illegal. It is damaging. And it should be stopped.

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