Get Email Updates
Demented Diary
Going Wodwo
Crochet Lady
Dan Gent
Sky Friday
Kindle Daily Deal
Email Me

Admin Password

Remember Me

2412112 Curiosities served
Share on Facebook

Credit Rating
Previous Entry :: Next Entry

Read/Post Comments (5)

I've been thinking of refinancing my mortgage, but the credit bureaus have been slow to acknowledge that all my revolving debt has been paid off.

When I checked earlier this week, the score was "Good", but showed a ridiculously high total balance in revolving debt still owed. So outrageous, in fact, that I simply shut down the website and ignored the whole thing.

I guess for once denial was effective, because when I re-checked the numbers this morning, they were accurate and my credit score reflected the change. I called the toll-free number anyway, just because I wanted to ask a real live human what happened.

She told me that there is a quarterly review by credit card companies and other debt holders of customers' accounts and that results of those reviews are forwarded to the credit bureaus, and their accounts updated. What I had done wrong was that I had checked the numbers just before the update.

[Note how quickly additional debt gets recorded versus slow adjustment for payoffs--I'm not entirely convinced her explanation was accurate.]

You'd think with everything done electronically that updates could be done overnight (or once a week, if you were hoarding electrons). If it's automated, it doesn't need to be monitored--just set the process to notify a human if a glitch occurs.

Oh, I forget myself. Some are still thinking in terms of clerks on tall 3-legged stools, eyeshades and quill pens, entering information into paper ledgers.

Some (Luddites) would prefer it that way.

Read/Post Comments (5)

Previous Entry :: Next Entry

Back to Top

Powered by JournalScape © 2001-2010 JournalScape.com. All rights reserved.
All content rights reserved by the author.