Picking up from where we left off in Beware of These 4 Common Credit Report Mistakes (Pt. 1), below we will continue our discussion regarding errors that commonly arise on people’s credit reports.
Being aware of these common credit report mistakes can help you stay alert to them as you regularly review your credit report.
Credit Report Mistake 2: Social security number errors.
Your social security number (SSN) is a critical part of your identifying information and your credit report in general. When there are errors with your SSN, you can end up noticing other glaring errors on your credit report, such as accounts you didn’t open, an absence of accounts you may have, etc.
While you may want to contact the credit reporting bureaus to get social security number errors fixed, it may also be a good idea to apply for a new SSN when these mistakes occur because it could be possible that these mistakes may be the result of identity theft (or a serious compromise of your personal information).
Credit Report Mistake 3: Mistakes regarding your account information.
As you continue to review your credit report, make sure to take a very close and careful look at the details of your account information. Specifically, for each account, look at the information your credit report has regarding:
- When the account was opened
- Whether the account is still open
- If still open, whether the current balance of the account is accurate
- Whether there is any notation regarding missed or late payments for the account.
If any of the above-listed information is NOT correct for any of your accounts, you will need to take action to fix it – especially if the credit report mistake is regarding:
- A closed account that is noted as still being open
- The wrong balance on an account
- A missed or late payment for an account when you know that you’ve made all payments on time.
Credit Report Mistake 4: Mistakes regarding accounts you didn’t open.
This should be obvious when reviewing your credit report and should be considered a huge red flag. In fact, if you notice that your credit report lists accounts that you didn’t open yourself (or even charges you didn’t accumulate on accounts you do have), immediate action should be taken to:
- Fix the error.
- Contact the creditor associated with this account and the mistake.
- Contact the legal authorities if you suspect identity theft may have been at play.
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