Check Credit Report for Accuracy

You never know what errors may be lurking

but here is what they could mean:

Smart seekers of accurate information might have already found this statistic by surfing around this site, but for those of you finding this page through a search on an external site, let's reiterate:  Fully 25 percent of credit reports contain mistakes.  These errors could be minor -- perhaps you were reported as having made a payment late when, in fact, the payment was made on time.  They could also be major -- your identity was stolen, and someone has been charging thousands of dollars in your name.

Either way, it behooves you to clear the air and fix your reputation.  Even if you never plan to borrow another dollar, your credit reports and scores affect your life in ways you may not have considered.

As our ratings change constantly, to ensure accuracy, check credit reports on all three bureaus regularly.  This will not hurt your credit rating, contrary to popular belief.  (What might hurt is applying for more credit, not the checking itself.) A reputable monitoring service will allow you to stay on top of things very easily. 

Credit repair is like any other repair:  The sooner you do it, the easier the process will be.  If your car needs a new water pump, you had better fix it before the pump gives out completely.  If your tooth has a cavity, you are best off having it filled as soon as it appears.  Likewise, if your credit report shows an inaccuracy that harms your score, you are best off bringing the matter to the attention of the reporting bureau, the creditor, and -- in the case of identity theft -- to law enforcement ASAP.

The only way to catch these inaccuracies in your credit reports is to monitor your information or check it regularly.