Credit report errors can affect your ability to get credit and increase the interest rates you pay. Here are some information and tips:
* More than 80% of consumers' credit reports contain inaccuracies. Credit report errors can cause you a better credit score. Many people don't qualify for the very best loan rate, unaware that it is due to the errors on their credit report. For example, if you were to obtain or refinance a mortgage loan, it is possible that a negative item on your report could cause your interest rate to increase, costing you additional thousands of dollars per year.
* Make sure you order your credit report annually and check for any outdated, incomplete, or erroneous information. File a dispute with the credit reporting agency that provided the report containing the errors.
* Follow up with the companies to correct the errors, as well as notifying the three main credit bureaus: TransUnion, Experian, and Equifax.