The 7 Most Common Credit Report Errors (and How to Spot Them)

How common are credit report errors?

A 2012 FTC study found that one in five consumers had an error on at least one credit report, and one in 20 had an error significant enough to affect their creditworthiness. These errors aren't always minor — a wrong account can cost you a loan approval or cost you thousands in higher interest rates.

The 7 most common credit report errors

1. Accounts that don't belong to you

Someone with a similar name, SSN, or address can have their accounts merged into your file. This is called a "mixed file" and is one of the most serious bureau errors. It can also indicate identity theft.

2. Wrong account status

An account you paid off and closed still showing as "open," "charged-off," or "in collections." This is extremely common — creditors and collectors frequently fail to update account statuses after resolution.

3. Duplicate accounts

When debt is sold from original creditor to collector, both may report the same debt. You should see the original account (showing as charged-off) and the collection account — but not two collection accounts for the same original debt.

4. Incorrect late payment dates

A payment marked 30 or 60 days late when you were actually on time — or a late payment date that's been moved to make it look more recent. The latter is illegal under the FCRA.

5. Wrong balance or credit limit

Balances that haven't updated, credit limits reported lower than actual (artificially inflating utilization), or paid-off balances still showing as owed.

6. Personal information errors

Wrong address, misspelled name, or someone else's SSN attached to your accounts. These can cause problems with fraud detection or loan applications.

7. Negative items past the 7-year limit

Late payments, collections, or charge-offs still appearing after their legal reporting period has expired. The bureau is required to remove these automatically — but they sometimes don't.

How to check for errors

1. Pull all three reports from AnnualCreditReport.com
2. Go through each tradeline and verify: creditor name, account type, balance, payment history, and date of first delinquency for any negative item
3. Check the personal information section for any address or name you don't recognize
4. Look for any account you don't recognize (potential identity theft)
5. Verify that negative items older than 7 years (10 for Chapter 7) have been removed

What to do if you find an error

You have the right under the FCRA to dispute any inaccurate information. Bureaus are required to investigate within 30 days and remove or correct anything they can't verify. See our full credit report dispute guide for step-by-step instructions and ready-to-use letter templates.

See also: All dispute guides · FCRA consumer rights · Free dispute letter generator