Why do you need to be sure that the information in your credit reports is accurate?
- You have to pay for any errors that occur.
- Criminals can use incorrect information to take advantage of your credit.
- Error or fraud might be lowering your credit score.
- If it is inaccurate, you could be fined.
- Lenders use this information to make decisions about whether to approve you for credit, and inaccurate information could result in being denied credit or getting unfavorable terms.
- Inaccurate information in your credit reports could also affect your ability to secure a job, rent an apartment, or qualify for insurance.
- Monitoring and ensuring the accuracy of your credit reports can help you detect and mitigate potential identity theft or fraud.