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credithound
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Not sure what happened. But my First Premier has not posted activity since 6/03

Did someone from First Premier screw up and forget to send in the tapes? Costing me precious pts. Good thing I double checked. The file says Acct-not on record and last activity 6/03

I check three other reports and were the same thing. :x

Kb what do you make of this or Swede--anyone else feel free to post some sense here.

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Well, this is an unfortunate speculation of mine - being that in a many months - I have started getting calls from creditors wanting to know the same thing.

Need to give you a bit of a lesson here so to fully explain what I suspect it may be, so you can investigate for yourself here.

One bank recently called me, said they had been sending in tapes through their processor every month continually - but one of their customers brought it to their attention that - their credit report was missing about 2 or 3 months worth of reporting. So they called me up & I in turn called our affiliate up.

They did some research and found out their processor had just changed over their format used. One called Metro and the new one called Metro 2, well these are software programs, that change the banks data over into a readable data for the CRAs to interpet and fuse into the credit reports.

Well, unfortunately when they started using Metro 2 - it was strict on the new requirements of accuracy - and the old Metro format just had too many errors to be acceptable to the CRAs, so they keep kicking back complete tapes of data (meaning not just one persons credit report is missing information - but that serveral banks using this one processor is missing data on everyone of their customers!!!).

So right now, that I understand it, this processor is faced with going back through each of the tapes making the nessasary corrections for the tapes to be acceptable to the CRAs.

Another important point here, is I learned that some processors differ from others as to what they are using besides the format for soft ware to complicate this even more if I can. But some have the ability to re-create the tapes and save the history, while others don't have this ability. In this one banks case - their processor I am told, happens to be one that can re-create. But it is going to take time some considerable time, and hopefully they will opt to re-create and when the tapes can be uploaded, hopefully the data added will have all of the back history that is now missing.

Now, there is still the problem of the processors that can fix their formats, but don't have the means to save back history - then the customers credit reports will just have a period of time missing that will not be able to re-add. There will be nothing which the creditors can do if this is the case. Just have to move forward with the new data, over lapping with the most recent status and history.

So at this point I have 2 banks using the same processor company recent to find out about this problem, so you should check with your creditor to point out the missing data. Ask them to investigate what happened and update your credit report.

This is just one possibility. Another one, may be that for some reason the bank might have had to willingly stop sending tapes on purpose, I had another bank do just this earlier this year. They put in all brand new computers & did not want to take the chance of loosing their data, so they opted to freeze everything until they could come back on line - well in this case - they lost two months of reporting.

Oh, and another note, not all creditors use processors - some of them have their own internal reporting departments & handle formating their own tapes to send in, so when you have a company not speciallizing in reporting solely you introduce more reporting problems.

ok, hope that helps, more then confuses, lol

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