Getting turned down for a loan? Paying higher interest rates? It could be due to mistakes on your credit report. And the negative consequences don’t stop there.
“A credit report is like an X-ray into a person’s finances! And having incorrect information on that report can stop a person from getting credit or a loan, renting an apartment, getting a good rate on your insurance, or even getting a job,” warned Consumer Reports Investigative Reporter Lisa Gill.AnnualCreditReport.comIf you do end up finding an error, fix it right away. You’ll want to file a dispute with each of the three credit bureaus: Equifax, Experian and TransUnion.
“I went to go apply for a loan, a car loan, and I was denied because they found an unpaid bill,” Vargas said, knowing he had never missed a payment. “I was shocked, I went to the credit report bureaus, and I put in a claim knowing that it was inaccurate.”
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