So you’ve done the responsible thing– gotten a copy of your current credit report and score, but low and behold… it appears that you are delinquent on your Gap account. Crap!! Hey, wait a second… you don’t have a Gap card. Readers and friends, I am here to tell you that credit bureaus are made up of human beings, and as we all know, no human being is perfect. In fact, as a species we are prone to error occasionally. Yet another good reason to check the ole credit report regularly– in order to catch any mistakes or errors on your report. And once you catch ‘em, the next step is to correct ‘em. That’s where the Consumer Financial Protection Bureau comes in. They just announced that they will be opening a credit report complaint line that consumers can utilize to report and fix erroneous account information. Peter Schroeder of congressional newspaper The Hill reported,
“The Consumer Financial Protection Bureau (CFPB) announced Monday that consumers could now come to it with complaints about their credit reporting.
The announcement marks the latest step in a growing portfolio for the new watchdog, which opened its doors a little over a year ago.
Now consumers can call the CFPB if they have problems with a credit reporting agency, or believe there is an error on their credit reports, which determines a consumer’s credit score and can play a vital role in lining up financing for a home or securing employment.”
Click here to read about the correct steps to take if you find a mistake on your credit report.
Annual Get Smart About Credit Day might have been a couple of days ago, but it’s a great time to get a handle on your credit report and check for errors. If you’re a Wells Fargo banker, make sure to take advantage of the free credit report and score they’re offering until mid-November. And if not, maybe it’s a good time to cash in on your once-per-year free credit score. Do it as a pre-holiday gift to yourself!