1. Common errors that cause credit report errors
1-1 Wrong account number/name appears
The most common error that occurs on a credit report is the appearance of an incorrect account number or name. Because a person may use different names or nicknames to apply for credit, it is easy for incorrect or different names to appear on a credit report. Therefore, it is recommended that you use the same name and be consistent, whether it is your first name or middle name or initials, so you can avoid confusion. Likewise, it is important to keep your identifying information such as social security number and address consistent.
1-2 Incorrect account status
Sometimes if you have an “insufficient credit file” or “no credit file” on your credit report, it may be because your credit file does not reflect all of your credit accounts. While most stores, department stores and universal bank credit card accounts are recorded on your credit report, not all creditors volunteer information, so we cannot require them to automatically report consumer credit information to the credit bureaus.
If you find that an account is missing from your credit report, it is recommended that you either file a request with your creditor and ask the creditor to report your credit information to the credit bureaus, or consider transferring your account to another creditor who will indeed report to the credit bureaus on a regular basis.
1-3 Ex-spouse information and debts still on your report
If you are divorced, make sure that your ex-spouse’s debts do not appear on your credit report. If you have not cleared it, your ex-spouse’s information will appear on your current credit report. So make sure you remove the old information from your credit report because it takes 7 years for the credit reporting companies to remove their information from the report.
1-4 Having an outstanding line of credit or higher debt
If you fill out the information by hand or use an app to enter it, it is easy to accidentally make a clerical error or typing mistake. Such an error may cause the lender to see double the information because the account is reported as being multi-fogged, so it will show up on your credit report as having more outstanding lines of credit or higher debt than you actually have.
1-5 Incorrect account status
Sometimes the credit report may show payment information that belongs to you, or information that falsely reports late payments, this side may be because the credit card company has incorrect information, or your account has been stolen!
1-6 Additional accounts that do not belong to you
When bad debts or mysterious unfamiliar accounts appear on your new report, it means that your personal information may have been stolen or your account may have been misused.
