Usually, when we think of cleaning our credit reports, we think of erasing bad debt and starting fresh. While it may not be possible to wipe bad marks from your credit, it is certainly possible to make sure your balances in good standing are accurately reported by creditors.

The most common errors found on credit reports are not complex. The involve human error, easily confused names, and mistakes in reporting multiple account payments correctly.

Is your data correct?

All three credit reporting agencies list your contact information, including previous addresses, employers, spouses, telephone numbers, and even criminal information. Naturally, no one is perfect and you may find mistakes in this section. If so, report errors you find to the credit reporting agency.

One of the most common errors that consumers see on their credit histories is with previous addresses. The credit reporting agencies get this information from the United States Postal Service. If a member of your family submits a Change of Address Form, you could automatically have your mail redirected, which would mean that the credit reporting agencies will have you listed as having another address - when you have never moved.

Lenders and creditors look for stability when deciding on whether or not to approve you for a loan or line of credit. Having another address listed many give the impression that you move around a bit, which may lessen your chances of being approved for a new car or home.

Is your name listed correctly?

You will want to make sure that the credit reporting agencies have used your name, correctly spelled, throughout the credit history. This includes in the personal information section and on each account listing.

The more common your surname is, the more likely you are to find an error on your credit report. How many Robert Smiths are there in the United States? How about in your neighborhood? Odds are, there are several Robert Smiths who use the same credit card company, which is where confusion may begin. It is easy for a company to erroneously report information, especially if the account names are similar. You should dispute any accounts listed on your credit history immediately, as they could easily have a negative affect on your credit score.

Do you have juniors and seniors in your family?

If so, both you and your namesake should be prepared for errors on your credit histories.

Multiple accounts can cause chaos.

Oftentimes consumers have more than one account with the same company. Credit card companies are notorious for offering multiple credit cards to cardholders. Once we have a good experience with one company, we like staying with them.

Having multiple accounts with the same company can create confusion for the representatives who are reporting your balances and payment histories to the credit reporting agencies. It is not difficult to transpose numbers and report one account as being paid on time while another becomes delinquent.

When reviewing your credit report, make sure that all accounts and balances are accurate.- Devon McCollum

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