Your credit report is one of the most important things about your financial health. Lenders use a record of your payments, debts, and credit history to determine whether or not to give you a loan. That’s why it’s essential to ensure no errors in your report.
If there are errors on your credit report, they could lead to you being denied a loan or getting a higher interest rate. Mistakes on your credit report can also cost you money in the form of higher insurance premiums and deposits.
Luckily, it’s relatively easy to check your credit report for errors. You’re entitled to a free copy of your information from each of the three major credit bureaus (Experian, TransUnion, and Equifax) once every 12 months. You can request your report online, by phone, or by mail.
Here are some steps you can take to check your credit report for errors:
- Review your credit report regularly. You can get a free copy of your credit report from each of the three major credit bureaus yearly at AnnualCreditReport.com.
- Look for mistakes. Check all the information on your credit report, including your personal information, account history, and credit inquiries.
- dispute any errors you find. If you find a mistake on your credit report, contact the credit bureau and file a dispute. The credit bureau will then investigate the error and remove it from your information if it is found incorrect.
- monitor your credit report for future errors. After you have disputed an error on your credit report, check your account periodically to ensure the mistake has been removed.
- keep track of your credit score. Checking your credit score regularly can also help you spot errors on your credit report. You can get your free credit score from several sources, including Credit Karma and Credit Sesame.
These steps can help you keep your credit report accurate and improve your credit score. If you find an error on your credit report, don’t hesitate to dispute it with the credit bureau.
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