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  • Writer's pictureWallace Holyfield

How Mistakes Occur in Your Credit File

Updated: Sep 17, 2020

Ever wonder why your credit report has inaccurate information?

Credit reports often contain errors due to one of the following reasons:

•Loans or credit card information is applied to the wrong account. This is a

frequent occurrence with fathers and sons if a “Senior” or “Junior” is omitted when filling out an application.

•You may have unknowingly caused an error by filling out credit applications with different names. Here are two examples of frequent occurrences:

1. You may fill out a department store credit application as Bill Smith and a mortgage application as William R. Smith.

2. An applicant may apply for credit as Margaret Jones, Peggy Jones, or Margaret Conrad-Jones.

•You entered your social security number incorrectly on the application.

•A clerical error was made when the lender transferred the data from the application.

•Payment data is applied to the wrong account by the credit bureau.

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