Reasons for mistakes on your credit report
Credit report errors occur for a number of reasons but they can all have a negative impact on your eligibility for any future credit. It's important to stay on top of your credit report to avoid any mistakes made by the creditors and credit bureaus —Equifax, Experian and TransUnion. Some common reasons for credit report errors include:
Credit report errors occur for a number of reasons but they can all have a negative impact on your eligibility for any future credit. It's important to stay on top of your credit report to avoid any mistakes made by the creditors and credit bureaus —Equifax, Experian and TransUnion. Some common reasons for credit report errors include:
- The individual has applied for credit under several different names (i.e. John Doe and Jonathon Doe)
- Someone made a clerical error in entering or reading information (names, social security numbers, addresses, etc.) from a handwritten application.
- Mix ups with common names. For example, there is likely more than one John Smith living in New York City and often there is the chance that information intended for one John Smith might appear on another John Smith's credit report as he applies for a mortgage.
- The individual gave an inaccurate Social Security number or the number was misread by the creditor.
- Loan or credit card payments were inadvertently applied to the wrong account.
