Why do you have to Refresh your credit score at TransUnion

This is a rant/caveat regarding your credit reports and credit scores maintained at the Transunion Web Site.

First, do NOT pay Transunion $16.95 per month to keep up with your credit history and credit score online. Why? Because TransUnion does not update your precious credit information in a timely fashion!

How do I know this?After waiting over 15 minutes, listening to elevator music over the telephone, I finally reached the stereotypical Indian TU call center representative. He told me that the sum total of my credit card balances with Chase and Bank America Visa was around $600. This phone conversation happened August  13th.

However, as of this writing on September 1, the online TransUnion report that I pay $16.95 a month for still shows my overall credit card balance total to be approximately $5200!!!! Why is this such an irritating and unacceptable practice? We are trying to lock in on historically low home mortgage interest rates, BUT have to wait for TU to update our credit history which will in turn raise our credit score to qualify us for the lowest interest rates available.

This is a very serious issue because you could either miss out on moving into the home of your dreams because TU is so slow to update your credit history OR you will not get the best rates available if you have to move fast. There is something called a rapid rescore which is a fee-based way to expedite the updating of your credit history. I think a rapid rescore costs around 100 dollars which is just not fair! Why in the F……..K doesn’t TransUnion update your credit information immediately after they receive it from your credit card company?

Finally as you can see from the online TransUnion Screen Shot, one has to click a Refresh Your Score link for your credit report to even be updated!!! What kind of BS is this? Why isn’t it just done automatically????!!!!!!

On a more positive note, the credit score report that you see below is a depiction of your credit worthiness based on your payment history,loan defaults,failure to pay traffic ticket or parking citation, etc. Keep track of it because it will determine your interest rate and whether you qualify for home mortgage or not.

Read the efforts of Jeremy M. Simon for more on the effect of parking tickets and the like on your credit score.

 

Refresh your Credit Score at Transunion

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2 Responses to Why do you have to Refresh your credit score at TransUnion

  1. Daniel J Gross basketball says:

    Read this account of a justifiably angry TransUnion customer from Bellevue,NE who berates himself for being fooled by TU fine print:
    I should’ve looked more closely at website before dealing with TransUnion. I must admit that much of my story is my own fault for not ‘meticulously’ looking over the website before submitting my order for $1 Credit Reports. I wanted to obtain credit reports for both myself and my wife, and noticed a TransUnion advertisement for $1 reports. I figured that was reasonable and began the process of signing up through their website. As I clicked through each section, I was careful to look for any extra checkboxes or forms that would sign me up for another service, as these websites usually do. Unfortunately, I completely missed the section BELOW the submit button and the small box along the margin of the page that said you would automatically be enrolled for the $17.95 Monitoring Service after 7 days. I clicked Submit.

    Lo and behold, 8 days later, there are TWO $17.95 transactions on my account (one each for me and my wife). Irate and pissed off I went back to the website and found that the sneaky, conniving company placed a completely legal notice just where you wouldn’t catch it. I called their customer service sternly requesting to refund my money, as I felt their company had taken advantage of me (and probably MANY other unsuspecting people). I was, of course, given the scripted answer that because the charge was a valid charge, they could not refund my money. I moved up the chain to a supervisor, and after some back and forth, I was able to get one of my transactions refunded. While still not happy, I decided it better to cut my losses and take the single refund.

    I would love to find a way to get back at TransUnion, to bring their terrible business practices out in the open for everyone to see, so that not only do other people stay away from the same mistake, but ultimately that the people running this scam of a company would be brought to light and fired. DO NOT MAKE THE SAME MISTAKE! Get your credit report elsewhere or find a way around the Credit Monitoring. Either way, TransUnion does not deserve your business.

    • Chill at Matador Cantina says:

      There seems to be a lot of interest as to whether somebody can just walk into a TransUnion to get their credit report. We tried walking in at their address 1561 E Orangethorpe Avenue in Fullerton, CA 92831. It was a big hassle. They told us they really could not identify us that way and they had better way of authenticating who we were online!!! They were friendly but not particularly helpful

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