Credit scores use information found in a consumer's credit report. However, credit reports frequently contain errors. For example, in March 1999, the U.S. Public Interest Research Group reported that 70% of credit reports in their sample contained mistakes or errors of some kind and 29% contained serious errors that could be used to deny credit. Nineteen percent of the credit reports contained accounts that could not be identified or did not belong to the consumer; and 26% contained credit accounts that were closed by the consumer but listed as open.
RSS
Credit scores use information found in a consumer's credit report. However, credit reports frequently contain errors. For example, in March 1999, the U.S. Public Interest Research Group reported that 70% of credit reports in their sample contained mistakes or errors of some kind and 29% contained serious errors that could be used to deny credit. Nineteen percent of the credit reports contained accounts that could not be identified or did not belong to the consumer; and 26% contained credit accounts that were closed by the consumer but listed as open.