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CreditCourt Forum » Fair Isaac - the designers of the credit scoring fraudware » Complaint # 2: Lowering scores with incorrect balance limit ratios « Previous Next »

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Calculate YOUR B/L ratioChristine07-21-03  03:01 am
Equifax 1999 Paper on furnishers not reporting the LIMITSChristine Baker09-21-02  02:18 am
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Christine Baker
Board Administrator
Username: Admin

Post Number: 99
Registered: 08-2002
Posted on Wednesday, September 04, 2002 - 08:54 pm:   Edit Post Delete Post Print Post    Move Post (Moderator/Admin Only)

I am going to show that Capital One not only violates the FCRA by refusing to report the credit limits for their accounts, but they also inflict enormous damages on their customers through the subsequently lower Fair Isaac credit scores.

Until recently, I THOUGHT that accounts reported without limits are excluded from Fair Isaac's balance/limit ratio (B/L.) That's because I was deceived by Fair Isaac's Mr. Paperno during one one of my calls to him.

He also assured me that the reporting of an account as OVER the limit (when only the high balance and not the limit is reported) will not lower their scores.

I just happen to have a couple of Capital One accounts with balances, one is reported with a "high credit" lower than the balance, and I decided to do a little experiment.

(See: Capital One reporting CURRENT balance as HIGHER than the HIGH balance to Experian:

On 9/1 I disputed the Cap One Kmart account online. Due to the Labor Day weekend, the dispute didn't get processed until 9/3. That day I disputed the other Cap One account.

My score went from 664 to 691 to 711.

I'll make a table with the actual balances and limits, the reported "high credit" instead of limits used by Fair Isaac, and how it effects my scores - ASAP.

I will post the entire credit reports and the score explanations - ASAP.

Thing is, it takes TIME - I have to edit my SSN out of the reports, etc. Haven't accepted new clients in almost 2 months now, work 14/7, and can't catch up.

That's of course courtesy Capital One, Genesis, Genus, and many other collectors, creditors and all the morons at the credit bureaus. Too many projects and not enough cash to hire help for admin, web work, transcripts, etc.

The monetary damages inflicted on American consumers due to creditors' refusal to report the credit limits are tremendous.

A jury will have to decide whether to hold those creditors, Fair Isaac, or all responsible.

The creditors violate the FCRA with their incomplete and inaccurate credit reporting.

Fair Isaac is damaging consumers through defamatory incorrect scores.

I am sure that this is NOT an oversight by Fair Isaac, they know very well the effect their flawed calculations have on the scores and they know that those scores are much LOWER than they should be.

Fair Isaac: "Over 75% of the applications for credit in the U.S. last year were decided with the help of a FICO score."

If this is something that interests you and you want to support this suit:

Help with cash donations:

Help with research:

Supply supporting documents. It sure would help to have MORE documentation. Do your own experiment and POST the results.

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