A little surprise I discovered while disputing a TransUnion Credit Score

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We have been monitoring our credit scores and credit reports daily since we are about to close on a brand new home AND we want to be sure and get the lowest home mortgage interest rate possible.

I pay $29.95 a month to view my Experian, TransUnion, and Equifax credit reports and credit scores. On last months credit reports our Bank America Visa card had a balance of $2500 and our Chase Visa card had a balance of $2800. We paid Bank America down to   $450 and paid Chase down to $170 all on August 10, BUT the $2500 and $2800 balances were unchanged on the credit reports 10 days later!!

So I decided to dispute both balances online at TransUnion. As I was filling out the online dispute form, I noticed the dispute form showed the correct balances of $450 and $170 respectively!!

Why am I pissed off about this? The correct lowered credit card balances are both in TransUnion databases, but TU has not taken the time to update my credit report or credit scores!!! All three credit bureaus SHOULD update your credit scores and credit reports within 24 hours of receiving current information from your credit card company!  Why, because if they are late you will get a higher more expensive interest rate that could cost you, maybe, $100 extra on your monthly mortgage or car payment.

In summary TransUnion has your updated information, but may wait around a month to have this financial data be properly reflected in your credit score AND a higher credit score can turn $1000 mortgage payment into a $1150 payment. The only way I became aware of this was to dispute a credit card balance that was being reported as way too high!

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2 comments on “A little surprise I discovered while disputing a TransUnion Credit ScoreAdd yours →

  1. I have heard that transunion is slow to update your address information. You should Not have to dispute your own address information. Transunion Should pick up any address changes When creditors forward your payment history. Experian and equifax are pretty good about keeping your address info current I think.

  2. Don’t feel so bad. They have my employment info from 6 years ago still posted on my current credit history. I work for them and they make a lot of money on a low cost poorly maintained data base and website. If customers don’t complain, they will get charged excessive monthy fee. If you gripe to service representative they will cut your monthly rate in half rather than lose your business to experian or equifax.

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