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Question By
djohn22

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Credits scores decreasing, and notification saying CC balanced has moved from $0 to $308
Hello All,
I dont get what happen to my credit scores. It has decreased by 15% automatically. and I heard about a balance that I have no clue about. I got this message below from my credit karma account.

"This WELLS FARGO account was reporting a balance of $0 as of Jul 4, 2013, indicating it is not in use. This account is now reporting a balance of $308. We recommend you verify that the charges on this account are legitimate."

What should I do? I only have 260 bucks in dept on that CC account. I dont know where that $308 is coming from. Is there a number that I could call?

Thanks!

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Contact bank ASAP!!

Helpful to 7 out of 7 people

If this account is showing a new charge and you didn't do it, make a call to the bank (customer service number may be on back of the card) and inquire about this real quick!!  It could be an error (someone punched in a card number wrong) or someone could have gotten your number and made small internet purchases.  Check it out real quick!!

AND--go to freecreditreport.com to check all 3 credit reports just to be sure all the information is correct.  Doing this once a year can save a lot of headaches.

ALSO--do not carry your Social Security card with you.  Put it in a lockbox or small safe at home since you need it very few times in your life and that number can be a gold mine for dishonest people.

Reply by
djohn22

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Thanks for replying. However, the problem isn't with my bank account. The amount of money that my bank is showing that I have as balance is completely find. What I don't understand is the amount of balance that credit Karma is showing that I have.

Credit Karma says I have a balance of $308, but my bank says $260. As I said I get this message below from credit karma and suddenly my credit score decreases by 15 pts.

"This WELLS FARGO account was reporting a balance of $0 as of Jul 4, 2013, indicating it is not in use. This account is now reporting a balance of $308. We recommend you verify that the charges on this account are legitimate."

The thing is that I am not sure what to tell my bank since they are showing an accurate balance. I guess the problem is on credit karma side or maybe there is something that I am not getting right.

I will probably get the three free scores that you have mentioned. The only problem is that getting those scores cost almost like 30 bucks (I guess).

Anyways, thanks for your reply.

Top Contributor
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Change site to freeannualreport.com.

Helpful to 1 out of 1 people

Credit Karma gets its information from Transunion.  And I've been so used to the freecredit report site that I missed the REALLY free one.  Government now requires that we be allowed one free copy of our credit reports every year where it used to cost us to get them.  Sure glad for that change.

I suspect there may have been an error in data entry on Transunion and, since some businesses report to two of the three major credit bureaus, it's always good to check all three to make sure every entry is correct.  Please go to freeannualreport.com for your free credit reports. And plan on making the credit report check an annual routine for your financial benefit.

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