Doug's Credit Center Blog

How Do I Update My Credit Report?


Updating a credit report can be very important to buying a vehicle. You should always check to make sure that your credit report is accurate before you decide to apply for a new or used car loan with any lender. There are many mistakes that are made on credit reports and it is usually up to the consumer to catch them and to get them changed.

Otherwise, you may find yourself paying far more than you should be simply because of a typo or mistake. Fixing a credit report begins with obtaining a free credit report, and a free credit report can be gathered annually from each of the three reporting bureaus.

 

How Do I Update My Credit Report?

To update your credit report you will need to identify the problem, identify the solution and provide evidence to support your claim. While it can sometimes just be easier to email them and tell them their report is wrong, it is often faster to fix the problem by giving them all of the relevant components. This means that you can, for instance, write a letter to the credit report bureau saying they have your address wrong, ask them to change it to your new address and also enclose a billing statement or bank statement that shows you at your new address. This will make the entire process faster and easier for you.

Why Should I Update My Credit Report?

The changes to your report can cost you hundreds if not thousands of dollars. If something has been misreported on your credit report, such as your current credit card balance, you may find that your credit score is much lower than it should be. As a consequence, you may not get the best deal with your automobile loan, home loan or other credit product, and you may not even realize why until it is too late.

You will want to get information in a timely manner.
Without updating your information such as your name and address, the bureau will not be able to find you if they need to.
You may be a target of identity theft.
If you notice unusual items on your report, you should call the bureau immediately.

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