Your credit report is an important document: It contains an in-depth record of how you’ve used credit in the past, and it can have a big impact on your life.
For example, when you apply for a loan, lenders usually check your credit report. That information contributes to their decision on whether to lend to you, as well as what interest rate to charge.
You might also have your credit checked by potential employers or when you are applying to get a mobile phone, rent a home, or perhaps connect some utilities.
Since credit reports can be so critical to many aspects of your life, it’s important that they be accurate. Unfortunately, these reports can have more errors than you may realize. An April 2024 Consumer Reports study found that 44% percent of people had errors on their credit reports. These mistakes ranged from relatively minor (like a typo in their name or address) to more significant (such as incorrect debt information that could be unfairly lowering their scores).
With that in mind, read on to learn how you can check your report and work to correct any errors you might find.
Key Points
• Credit reports may contain errors, ranging from minor typos to significant inaccuracies, impacting financial health.
• Common errors include incorrect personal information, mixed-up names, wrong accounts, and false late payments.
• To dispute errors, gather evidence and contact the credit reporting company directly.
• If identity theft is suspected, report it to the Federal Trade Commission for a recovery plan and guidance.
• Regularly checking your credit reports helps you spot inaccuracies and potential fraud, and take steps to rectify issues before they negatively impact your credit.
Increase your savings
with a limited-time APY boost.*
Getting a Credit Report
Like going in for a check-up once a year can benefit your physical health, regular credit report check-ups can benefit your financial health.
You can order a free credit report from each of the three major credit bureaus (Equifax®, Experian®, and TransUnion®) as often as weekly at AnnualCreditReport.com, a site run by the government. It’s a good idea to take advantage of this service, and to look over your reports at least annually.
Checking your credit report regularly can also make it easier to notice when the numbers look off or if something’s amiss. This could help you catch fraudulent activity.
Scanning a Credit Report
The best way to find an error in a credit report is to read through it thoroughly.
The Consumer Financial Protection Bureau (CFPB) recommends making sure that the following information is accurate:
• Name
• Social Security number
• Current address
• Current phone number
• Previous addresses
• Employment history (names, dates, locations)
• Current bank accounts open
• Bank account balances
• Joint accounts
• Accounts closed.
If any of the above is incorrect, the report has an error that you may want to dispute.
Common Credit Report Errors
While there are any number of errors that could crop up on a credit report, some are more likely than others. According to the CFPB, these are among the most common:
• Typos or wrong information: In the personal information section, names could be misspelled, or addresses could just be plain wrong.
• A similar name is assigned to your report: Instead of a typo, the credit report might be pulling in accounts and information of a person with a similar name to yours.
• Wrong accounts: If an account is in your name but unfamiliar to you, this could be evidence of identity theft.
• Closed accounts are still open: You may have closed a credit card recently, but the report shows it as still open.
• You’re reported as the owner of the account, when you’re just an authorized user: If you’re simply an authorized user on a credit card, your credit report should reflect that.
• False late payment: A credit report might show a late or delinquent payment when the account was paid on time.
• Duplicate debts or accounts: Listing an account twice could make it look like more debt is owed, resulting in an incorrect credit report.
• Incorrect balances: Account balances might show incorrect amounts.
• Wrong credit limits: Misreported limits on credit card accounts can impact a credit score, even if they’re only off by a few hundred dollars.
How to Report an Error
Errors on credit reports don’t typically fix themselves. Account owners often have to be the ones to bring the error to the credit bureau’s attention.
Here are steps to take if you find an error in one of your reports.
1. Confirm the error is present on other credit reports.
Credit scores may vary across credit reporting bureaus, but all the core information should be the same. That means if there’s an error on one, it’s best to check if it’s on the other two. You can order free reports from all three bureaus from AnnualCreditReport.com and check each report against the others.
2. Gathering evidence.
To prove an element of the credit report is wrong, there needs to be evidence to the contrary. That means you’ll want to collect supporting documentation that shows the report has an error, whether that’s a recent account statement, ID, or a loan document. Having this documentation on hand can make the process move faster.
3. Report the error to the credit reporting company.
To resolve the error, you’ll want to file a formal dispute with the credit reporting company. You can contact them by mail, phone, or online. The CFPB offers more details on how to file a dispute.
Be sure to include all documentation of the error, in addition to proper identification.
Here’s how to contact each credit reporting company:
Equifax
Online: Equifax.com
Mail:
Equifax Information Services LLC
P.O. Box 740256
Atlanta, GA 30374
Phone: (888) 378-4329)
Experian
Online: Experian.com
Mail:
Experian
P.O. Box 4500
Allen, TX 75013
Phone: (855) 414-6048
Transunion
Online: Transunion.com
Mail:
TransUnion Consumer Solutions
PO Box 2000
Chester, PA 19016
Phone: (800) 916-8800
4. Contact the furnisher (if applicable).
A furnisher is a company that gives the credit reporting bureau information for the report. If the report’s mistake is an error from a bank or credit card company, you can also reach out to the furnisher to amend its mistake. You can contact the company through the mail (the address can be found on the credit report), or reach out to customer service by phone or online.
If the furnisher corrects the mistake, it could, in turn, update the credit report. But to play it safe, reach out to both parties.
5. Reach out to the FTC to report identity theft (if applicable).
If you notice an error that suggests identity theft (such as unknown accounts or unfamiliar debt), it’s a good idea to sign up with the Federal Trade Commission’s (FTC’s) IdentityTheft.gov site in addition to alerting the credit bureaus. The FTC’s tool can help you create a recovery plan and figure out the next steps.
6. Sit tight and wait for a response.
Once you send a credit dispute to a bureau or furnisher, you can expect to hear back within 30 days, typically by mail.
When a credit bureau receives a dispute, they have one of two choices: agree or disagree. If the bureau agrees, they will correct the error and send a new credit report.
If the bureau disagrees and doesn’t believe there’s an error, they won’t remove it from the report. In some cases, they may not agree there’s an error because there’s a delay in information getting to them. For example, a recently canceled credit card might not show up as canceled in their records yet. Changes like that might take some time.
However, if you’re confident of the error and a credit bureau doesn’t agree, that’s not your last stop.
You can also reach out to the CFPB to file an official complaint . The complaint should include all documentation of the dispute. Once the CFPB receives the complaint, you can keep track of its progress on the organization’s website.
The Takeaway
Checking your credit reports can help you ensure that the information used to calculate your credit scores is accurate and up to date. It can also tip you off to fraud or identity theft.
It’s easy and free to gain access to your credit reports from the three major bureaus. Taking advantage of this service (and reporting any errors you may come across) can be key to maintaining good credit, and good overall financial health.
Another way to maintain good financial health is to pay your bills on time (which adds positive information to your credit reports), and to keep track of your spending. The right banking partner can help with both.
Interested in opening an online bank account? When you sign up for a SoFi Checking and Savings account with direct deposit, you’ll get a competitive annual percentage yield (APY), pay zero account fees, and enjoy an array of rewards, such as access to the Allpoint Network of 55,000+ fee-free ATMs globally. Qualifying accounts can even access their paycheck up to two days early.
FAQ
What are common errors on a credit report?
Common errors on credit reports include incorrect personal information (such as addresses or Social Security numbers), accounts that don’t belong to you, late payments that were actually on time, and incorrect credit limits or balances. Errors can also include closed accounts listed as open and duplicate entries.
These mistakes can negatively impact your credit, so it’s important to review your report regularly and dispute any inaccuracies.
Do you have rights when your credit report is wrong?
Yes, you have rights when your credit report is wrong. Under the Fair Credit Reporting Act, you can dispute inaccuracies with the relevant credit bureau(s). The bureau must investigate your dispute, forward the dispute and all relevant information you provided to the company that provided the information about you, and report the results back to you.
How to fix credit report errors fast?
To fix credit report errors quickly, start by obtaining a free copy of your report from all three major credit bureaus. Identify the errors and gather documentation to support your dispute. Submit a formal dispute using the credit bureaus’ online dispute systems for faster processing. It’s also a good idea to send a formal dispute letter to the company that furnished the incorrect information. Follow up with both the credit bureaus and the company to make sure your dispute gets resolved.
SoFi Checking and Savings is offered through SoFi Bank, N.A. Member FDIC. The SoFi® Bank Debit Mastercard® is issued by SoFi Bank, N.A., pursuant to license by Mastercard International Incorporated and can be used everywhere Mastercard is accepted. Mastercard is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated.
Annual percentage yield (APY) is variable and subject to change at any time. Rates are current as of 11/12/25. There is no minimum balance requirement. Fees may reduce earnings. Additional rates and information can be found at https://www.sofi.com/legal/banking-rate-sheet
Eligible Direct Deposit means a recurring deposit of regular income to an account holder’s SoFi Checking or Savings account, including payroll, pension, or government benefit payments (e.g., Social Security), made by the account holder’s employer, payroll or benefits provider or government agency (“Eligible Direct Deposit”) via the Automated Clearing House (“ACH”) Network every 31 calendar days.
Although we do our best to recognize all Eligible Direct Deposits, a small number of employers, payroll providers, benefits providers, or government agencies do not designate payments as direct deposit. To ensure you're earning the APY for account holders with Eligible Direct Deposit, we encourage you to check your APY Details page the day after your Eligible Direct Deposit posts to your SoFi account. If your APY is not showing as the APY for account holders with Eligible Direct Deposit, contact us at 855-456-7634 with the details of your Eligible Direct Deposit. As long as SoFi Bank can validate those details, you will start earning the APY for account holders with Eligible Direct Deposit from the date you contact SoFi for the next 31 calendar days. You will also be eligible for the APY for account holders with Eligible Direct Deposit on future Eligible Direct Deposits, as long as SoFi Bank can validate them.
Deposits that are not from an employer, payroll, or benefits provider or government agency, including but not limited to check deposits, peer-to-peer transfers (e.g., transfers from PayPal, Venmo, Wise, etc.), merchant transactions (e.g., transactions from PayPal, Stripe, Square, etc.), and bank ACH funds transfers and wire transfers from external accounts, or are non-recurring in nature (e.g., IRS tax refunds), do not constitute Eligible Direct Deposit activity. There is no minimum Eligible Direct Deposit amount required to qualify for the stated interest rate. SoFi Bank shall, in its sole discretion, assess each account holder's Eligible Direct Deposit activity to determine the applicability of rates and may request additional documentation for verification of eligibility.
See additional details at https://www.sofi.com/legal/banking-rate-sheet.
*Awards or rankings from NerdWallet are not indicative of future success or results. This award and its ratings are independently determined and awarded by their respective publications.
Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances.
We do not charge any account, service or maintenance fees for SoFi Checking and Savings. We do charge a transaction fee to process each outgoing wire transfer. SoFi does not charge a fee for incoming wire transfers, however the sending bank may charge a fee. Our fee policy is subject to change at any time. See the SoFi Bank Fee Sheet for details at sofi.com/legal/banking-fees/.
Third-Party Brand Mentions: No brands, products, or companies mentioned are affiliated with SoFi, nor do they endorse or sponsor this article. Third-party trademarks referenced herein are property of their respective owners.
Third Party Trademarks: Certified Financial Planner Board of Standards Center for Financial Planning, Inc. owns and licenses the certification marks CFP®, CERTIFIED FINANCIAL PLANNER®
External Websites: The information and analysis provided through hyperlinks to third-party websites, while believed to be accurate, cannot be guaranteed by SoFi. Links are provided for informational purposes and should not be viewed as an endorsement.
SOBNK-Q225-076