Some reddit users are reporting that they have received a collections notice from Tate & Kirlin saying that BILT is taking adverse action against them due to unpaid debt. A BILT spokesperson has acknowledged the issue and provided the following statement:
We are aware of a small number of customers receiving unexpected collections notices and/or credit reports related to their beta Bilt card. We are in touch with the agency responsible and any erroneous credit reporting will be deleted immediately.
A second statement was issued stating:
Credit bureaus have been notified and your report will update within 2-5 business days due to credit bureau updating schedules
The issue seems to be affecting Evolve Bank cardholders (beta or pre 1.0) and not Wells Fargo (BILT 1.0) or Cardless (BILT 2.o) cardholders. Evolve Bank cards were all issued before March, 2022. To say this is a significant issue is underselling it, one reddit user reports they were in the midst of the approval process for a house purchase before their credit score suddenly dropped 60 points. If you are affected I’d strongly recommend keeping track of any damages you’ve incurred as a result of this issue.Â
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