Archive · 25 Jul 2025
Spotting and Fixing Credit Report Errors: Tips to Improve Your Score
Your credit report is like a report card for borrowing money.
Mistakes on it can hurt your chances of getting a loan or make it more expensive.
Common errors include wrong information, old loans still listed, and payments not showing up.
The good news is banks now have to update your report more often.
You can get a free report each year to check for errors and then dispute them to get them fixed.
Fixing these errors helps you get better loan deals.
Errors in credit reports can lower your credit score, impacting loan terms.
Common errors include incorrect personal information, inactive loans listed as active, and payment update delays.
The Reserve Bank now mandates financial institutions to update credit bureau data every 15 days.
Borrowers can get a free credit report annually and dispute errors online.
Errors can lead to higher EMIs, lower loan amounts, rejections, or delays in obtaining credit.
- Who
- Borrowers who are looking to secure a personal loan or a credit card.
- What
- How to spot and fix errors in credit reports that negatively impact credit scores.
- When
- The Reserve Bank recently mandated that financial institutions refresh credit bureau data every 15 days.
- Where
- Not explicitly mentioned.
- Why
- To prevent higher EMIs, lower loan amounts, outright rejection or delays in availing credit.
- Credit report impact
- Can lower credit score
- Common errors
- Personal info errors, closed loans as active, payment update delays, delinquent accounts, duplicate entries
- Bureau data update frequency
- Every 15 days (mandated by Reserve Bank)
- Free credit report
- One per year available
- Dispute resolution time
- 30 days