Credit Report Errors: What to Look Out For?
Did you know it is crucial to verify your information on your credit report to make sure it is accurate? Incorrect personal information, debts, and loans could be negatively influencing your credit score without your knowledge.
Credit reports are vital parts of information that can dictate not just your current standing in the eyes of lending agencies but can also influence your future greatly. But for such important reports, it can be difficult to know what to look for to make sure there are no errors on your credit report.
To help you on your journey, here are example reports from the 3 credit reporting agencies:
With those examples for you to guide you, here are the important pieces of information to verify so you can easily navigate through your credit report:
Inaccurate Personal information
An easy to overlook part of every credit report is your personal information:
- Is your name, address, social security number, and other personal information correct?
- Is all listed information about you, and not someone else with similar information?
- Credit reports getting mixed up between people happens. This issue is called mixed or merged credit reports.
- Addresses and Inquiries that you do not recognize may be a sign of identity theft, so it is important to review carefully that information.
Inaccurate credit information
Incorrect credit information can create issues with lenders, and cause your credit score to go down. Even worse, it can also point to signs of identity theft.
Inaccurate credit information to pay attention to:
- Are there loans open in your name that you did not create?
- Are there duplicate debts?
- Do any of the dates associated with new loans or purchases sound incorrect?
- Is paid off debt of loans still appearing as open?
Interested in learning more about steps to take to dispute credit report errors or if you suspect identity theft? We have the resources to help.