JACKSONVILLE, Fla. – VyStar Credit Union is facing a growing controversy after several customers reported having issues with their credit scores.
One customer shared his story with News4JAX about how an error caused his credit score to drop by more than 100 points.
This came as we learned that thousands of VyStar customers may be affected by this mistake.
According to VyStar, approximately 2,200 mortgage holders who paid off their loans in full last year were mistakenly reported to credit bureaus as being late on their mortgage payments for several months.
Bryan Rau, one of those affected, said his credit score plummeted from 825 to 713 when he found out about the error in early March.
“I already have had VyStar betray my trust in the past,” Rau told News4JAX. “It was one of those situations where I was initially outraged.”
Rau says he set out to get answers on his own contacting various credit reporting agencies, and financial institutions. Rau said VyStar reached out to him promising to fix the error and reimburse his expenses.
VyStar has confirmed that the issue has been resolved and that the credit bureaus have been notified.
In a statement, a spokesperson for VyStar said: “There will be no impact on credit scores once the issue is corrected.”
Paul Oster, president of Better Qualified, a credit counseling company, said that no one affected by the VyStar error should see any negative impact on their credit score, but warned that consumers might need to take proactive steps.
“This should be a situation where the consumers shouldn’t have to do anything,” Oster explained. “But they’re probably going to have to be proactive—contact VyStar, contact the credit bureaus, and if they don’t fix it, they may need to take legal action.”
Oster, who has over 20 years of experience in credit counseling, stressed the importance of consumers monitoring their credit scores closely, as they can affect financial decisions daily.
For those impacted, Oster recommended using free services like AnnualCreditReport.com, which allows consumers to check their credit reports weekly.
Also included in the statement sent to News4JAX a spokesperson for VyStar stated " Third party credit monitoring services may take up to 30 days to reflect this information since each has its own schedule for retrieving data from the credit bureaus. "
Rau’s situation is not unique.
News4JAX spoke to other VyStar customers who experienced similar issues.
If you’re one of the affected customers, it’s important to take action—whether it’s reaching out to VyStar or contacting the credit bureaus directly.
Stay informed and protect your credit by regularly reviewing your reports and seeking assistance if you notice discrepancies.