Bilt Corrects Credit Reporting Error, Gives Affected Members 2,500 Points
Bilt has notified a small number of members that they were incorrectly reported as delinquent to TransUnion. The issue only affected beta Bilt Mastercard accounts issued before the Wells Fargo partnership launched in March 2022.
According to Bilt, the erroneous information was reported on July 31 and was corrected as of August 3 after the company worked with Tate Kirlin to resolve the issue. Members do not need to take any action, and Bilt says the corrected information should appear on TransUnion credit reports within three business days.
For those who use third-party personal finance apps, Bilt notes that those services may not refresh immediately and could continue showing the incorrect information for up to 30 days, depending on each app’s update schedule.
As an apology, Bilt is depositing 2,500 Bilt Points into the accounts of affected members. The company also says anyone who applied for new credit between July 31 and August 6 and experienced issues because of the reporting error should reply to the email, and Bilt will work with the affected financial institution to help resolve the situation.
“We were notified that a small number of individuals with a beta Bilt Mastercard issued prior to the launch of the Wells Fargo card in March 2022 were incorrectly reported to the credit bureau, Transunion, for a delinquent balance from a third-party card servicer, Tate Kirlin on Friday, July 31st.
After discovering the issue, we promptly contacted Tate Kirlin to resolve it. As of Monday, August 3rd, all impacted accounts have been corrected. No action is needed from you. These updates should reflect on your credit report within 3 business days.
Please note if you are using a third party personal finance app, those apps often refresh monthly and as such these updates may not be reflected on those platforms for up to 30 days or according to their refresh schedules; however, your information will be updated with Transunion within 3 business days and you may obtain a copy of your free credit report directly from Transunion that will display the corrected information after August 6th.
We apologize for the inconvenience this has caused and will deposit 2,500 Bilt Points in your account for your patience. If you have any questions, or if this temporary information mismatch needs to be addressed with another institution (e.g., if you attempted to apply for new credit between July 31st and August 6th), please reply directly to this email; we’re happy to work with you and the other institution to help however we can.
Thanks,
The Bilt Team”
HT: DoC
