Ginger L.
Score dropped 92 points! Cust service is a joke.
UPDATE: in response to SF comment on my review. There was no other factor that dropped my score. I did not have my credit checked ot open or close a line of credit directly before or after the scores dropped. In fact, I added a secured card through open sky and my credit scores increased, which helped since SF tanked my scores. I have since closed my SF account and I caution everyone to read every review you can find on SF before signing up. ALSO Transunion no longer accepts informative from SF... probably bc it knows SF is a scam. My credit score dropped 66 points on transunion and 92 points on equifax after just 3 weeks of opening the stellarfi account! All bills have been paid off course. That is totally unacceptable!!! Update: the company's response to this review is ineffectual. A 92 point drop is not understandable under any circumstances. The company is not reachable through the phone. Only email or chat is allowed. I interacted with 4 different representatives and none of them would help. Each chat session took over 30 minutes. Their customer service is abysmally poor. Their product is harmful. And their response is woefully inadequate. Look on other review sites besides trustpilot and you'll see what I'm talking about.
Response from StellarFiNov 24, 2023
Updated Reply: Hi Ginger! We wanted to follow up with your most recent comment. To be clear, the singular addition of StellarFi as a new line of credit on your credit report will not result in a drastic score drop. As previously mentioned, a minimal score change could happen, but it typically regulates itself in a short period of time as is the norm when new information is added to a credit report. Once you've been an active member (usually 30+ days), most will experience a score increase (which can vary depending on how many bills are being paid through StellarFi, etc.) In looking further, it appears as if there are other factors outside of StellarFi that could be affecting your score. We’re happy to explain privately as well as provide several resources that would be helpful. Please reach out to our Member Success team at [email protected]. Looking forward to hearing from you! Hi Ginger, We appreciate you reaching out and sharing your concerns about the unexpected drop in your credit score. We understand how crucial your credit score is, and I want to assure you that we take this matter seriously. When a member opens an account with StellarFi, a new credit account is added to your credit report. This addition can influence your overall credit utilization and may temporarily reduce the average age of your credit accounts. It's important to note that these factors can contribute to a brief decrease in your credit score. However, this impact should resolve within the next couple of weeks, and your score is likely to rebound, especially in the absence of any other new credit activity outside of StellarFi. If you have any further questions or concerns, feel free to reach out to our Member Success Team at [email protected].