Monday, June 3, 2013

Are Credit Report Errors Costing You?

http://www.grandparents.com/money-and-work/saving-and-investing/dispute-credit-report


 

One in four credit reports has an error—and it could be hurting your financial health.

If you're not qualifying for the same low interest rates as your neighbor, it may not be your fault. A study by the Federal Trade Commission (FTC) found that one out of every four consumers has a mistake on at least one of their credit reports. One in 20 found a mistake significant enough to raise their credit score by more than 25 points. For consumers with low credit scores, that can mean the difference between qualifying for a loan or not. For those with higher scores, a 25 point boost could result in a significantly lower interest rate on a loan or mortgage.
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