     Chris Phelps (Twistsol) | Wednesday, October 18, 2000 - 09:29 pm 
I just applied for an equity loan on my house and my banker gave me a copy of my credit reports with scores. The first reason code on the scores was "Too many new revolving accounts in the past 12 months" I haven't had a new revolving account since my Visa card in 1995.
AT&T reports my cell phone as a revolving account. Not only that, but because the company I work for negotiates our rates, I call them about every three months and change my plan to get more minutes or a cheaper rate. AT&T is showing the old account "Closed by consumer request" and a new revolving account opened each time I've changed my calling plan. There are four of these in the past twelve months and two others prior to that.
Has anyone seen or more importantly successfully disputed this before?
I'm still waiting for the snail mail reports to show up because you can't dispute off the merged report the bank gave me.
Thanks much and sorry about being long winded, but it's in my nature.
Chr's |
| Christine Baker (Admin) | Friday, October 20, 2000 - 07:12 pm
Chris, I wished everyone (including myself) posted as concise as you.
It is MY opinion that those cell phone accounts are NOT revolving accounts.
Who says you can't dispute data on that merged report?
I would dispute those accounts with BOTH AT&T and the CRAs.
And I'd include a printout of this page and a copy of the merged report.
How are these accounts reported? Does AT&T report a credit limit? balance? etc.? |
| Shylock (Shylock) | Friday, October 20, 2000 - 07:31 pm
I have an AT&T Wireless phone too and they are reported as revolving accounts when actually they are open accounts. Unfortunately of the big 3 credit bureaus only Equifax recognizes the existance of and properly reports on open accounts. Equifax rules.
Anyway they have to report it somehow. Mine are reported as $0 limit revolving accounts. |
| Christine Baker (Admin) | Saturday, October 21, 2000 - 09:17 am
So you have a $0 limit, what about balances?
I don't know where I'd look up the definition of a REVOLVING account.
In my mind it's an account that I can use up to a certain limit. Does AT&T give you a certain credit limit?
What's the purpose of an account with a $0 limit?
I must be missing something. |
| Lynn Whealer (Lynnwhealer) | Saturday, October 21, 2000 - 08:59 pm
This situation sucks. There is no more reason for ATT to report than the power company or phone company. It is most certaily NOT a revolving account. Thanks for the heads up on this, as I change rate plans too, and AT&T is in the process of buying out the rest of the partnership of the comapny that I use, Cellular One. |
| Shylock (Shylock) | Sunday, October 22, 2000 - 02:49 am
Be advised that I also do business with Pac Bell Wireless. They also report on me similar to AT&T does. They also had the courtesy of sending me a letter informing me that I'd been extended a $200 line of credit on the phone. They still report $0 credit limit. |
| Christine Baker (Admin) | Monday, October 23, 2000 - 07:42 pm
This really sux. And I have no idea what to do about it other than to dispute with the CRAs and the reporting companies. |
| Chris Phelps (Twistsol) | Tuesday, October 24, 2000 - 05:04 pm
These are all being reported as zero limit and zero balance. The balance really is zero because the whole thing is charged to my Amex the day the invoice is generated.
I can't dispute off the merged report because the one my banker uses doesn't show what items came from which CRA. Fortunately in the People's Republic of Minnesota, a credit report fee tops out at three bucks so at least this will be cheap even if it is annoying.
Thou shalt not bear false witness against thy neighbor.
The CRA's should take heed, this is one of the top 10 after all.
Chr's |
| John Shimmer (Jshimmer) | Tuesday, October 31, 2000 - 08:46 am
I don't know where I'd look up the definition of a REVOLVING account.
In my mind it's an account that I can use up to a certain limit. Does AT&T give you a certain credit limit?
Isn't a revloving account defined by the fact that:
(a) it's monthly balance goes up and down based on purchases and payment (versus an installment loan)
(b) you (can) carry a balance over from one month to the next, provided that you pay the interest or otherwise conform to the agreement
To me, a revolving account is a Visa/MC or, for example, a Sears charge card. Put a few bucks on it, make a payment, next months balance is there plus interest, make a payment, charge something, etc., etc.
But to complicate it, isn't an AMEX card that requires full payoff of the entire balance each month considered a revolving account?
And if so, then a cell phone bill is no different from the AMEX card - full payoff of the balance each month is required.
It's up to the creditor to decided what type of account they are getting into an agreement with regarding their customers -- it's not the responsibility of the CRA to determine what type of account it is ... |
| Christine Baker (Admin) | Tuesday, October 31, 2000 - 11:20 pm
I don't think the AmEx accounts that are paid in full every month are revolving. I agree with your other definitions.
Wished I had a billion dollars to buy as many ads as AT&T and let everybody know how much they suck
How does AT&T address the reporting in their contract? Can somebody look it up? |
| Chris Phelps (Twistsol) | Wednesday, December 27, 2000 - 06:07 pm
The culprit is equifax. Apparently trans union and experian have the ability to determine that multiple accounts from the same creditor with the same account number are one account.
After two disputes with equifax, they removed the additional entries.
The minimum wage flunkies at AT&T customer service, and four levels of supervisors above them have no idea that AT&T reports to credit bureaus.
I read in the paper this morning that over 5 million in damage has been caused by vandals cutting AT&T fiber optic lines in my neighborhood. They'll probably name me as a suspect.
Have a day,
Chr's |
| Christine Baker (Admin) | Wednesday, December 27, 2000 - 06:36 pm
Thanks for the Equifax update.
As for the rest of your posting on AT&T, not only are you so right about their cluelessness, but it is also just too funny. "... They'll probably name me as a suspect." hahaha
Of course it's easy for ME to laugh, I didn't have to be on the phone with AT&T in nearly 2 years now.
I'll try'n have a day.  |
