Finding Mistakes on Your Credit Report



We understand that everybody makes mistakes. Unfortunately, when it comes to your credit report, others’ errors can cost you. Literally.

What kind of mistakes am I looking for?

  • On-time payments inaccurately reported as late
  • Duplicate accounts
  • Closed accounts still listed as open or vice versa
  • Debts that belong to someone who has a name like yours

If you see these errors, or anything else that doesn’t look right, look into it ASAP. If a creditor tells a credit agency something about you that isn’t true, it could hurt your score. A lower score = worse terms on new loans, mortgages and credit cards. All of this could mean less money in your pocket!

What do I do if I find an error?

  1. Let the credit reporting agency know. (If you find an error on multiple credit reports, file with every credit bureau.) 
  2. File a dispute online, then wait about 30-45 days while they investigate. 
  3. If your dispute was valid, the credit agency has to correct or remove the error. Depending on the mistake, that could give your credit score a nice bump.

If you find a serious issue – like a new credit card or loan you didn’t apply for – that could indicate identity theft.

After filing a dispute, consider a few more moves to keep your MFCU accounts and financial reputation safe.

  • Put a fraud alert on your credit report. This tips off our lenders that your info may have been stolen and reminds them to go the extra mile before approving new lines of credit.
  • Freeze your credit. A credit freeze restricts access to your credit report and can help stop identity thieves before they can do more damage. 
  • Change your passwords. You should do this a few times a year anyway. But especially if you think someone’s broken into any of your accounts.
  • Check in. Read your credit report every few months or sign up for a free monitoring service so fraudulent activity doesn't sneak past you.

If you're looking to easily access things like your current credit score, score analysis, score trends, and information from your credit report including score, open trades, closed trades, balances, payment history, and more, check out all of the new features within our Online and Mobile Banking!


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