Your Credit Report - Your New Best Friend (cont.)
Contributed by Jorja Shepard
Credit Report Blunders
The other side of the technological coin is misinformation. Data, good and bad, is entered by humans. Humans have a tendency to make mistakes from time to time. This being said, there can be errors on your credit report. Yes, there can be errors on your credit report. Credit reports are not periodically sent to consumers. They must be requested by the consumer. If you have a blunder on your credit report you could possibly be denied credit or given a higher interest rate on credit.
You will not know the mistake even exists unless you check your credit report. This is the second basic rule. Check your credit report.
Credit Report 411
It is a very simple process to check your credit report. There are 3 major bureaus that have your credit information. Contacting them for a copy of your credit report is as simple as an online search. There can be fees involved, but if you have been denied credit due to information provided from a credit bureau, you will be given a free report. View your credit report carefully. Another basic rule of credit - view your credit report carefully.
The information contained in your credit report can be incorrect and if so, can be changed. If you find incorrect information you can follow procedures to dispute the information. You have the power and the responsibility to monitor your credit report. Use it or you may find yourself paying for a mistake you never made.
