And while you may not have given it much thought, credit report errors actually occur more frequently than you would expect.
As per the Federal Trade Commission, about 25% of credit reports contain potentially significant errors.
Your credit report is a summary of your history with credit and contains information sent to credit bureaus by lenders and creditors.There are three major credit bureaus in the United States: Equifax, Experian, and TransUnion.
Each bureau operates independently and your credit report may be slightly different for each. This is because lenders and others who report to the credit bureaus are not required to report to all three.
– Wrong account statuses: an account that has been closed may be reported as open. There may be errors relating to your payment history, credit limits and account balances.