Let's face it. We can't help use the credit card at times - whether it's for an emergency or impulse buying. However, once the bill arrives, we often wonder about the possible inaccuracies printed on your bill. This could hurt your credit history. Do not fret. These things happen and while you're quick to notice about it, there are ways to solve this also.
Data errors
You may notice that your billing statement may
include accounts that aren't yours. It may also say that you lived
somewhere you didn't. It may also indicate there that you have a
different spelling of your name. While this may seem suspicious, it
does not mean that someone has possibly stolen your identity. We can
credit this to human error.
Sometimes, it takes time for credit reports to include out-of-date
details (ex. Old address or employer). If this is your problem, then
you should clear your report of errors to the agency.Identity theft
It is easy to start a new account whether it may be credit, utility or health care, under your name. Purchases and services are unpaid thereafter. Because of this, your credit score sinks lower. These forces collection agencies to take over. Usually, identity theft using credit card happens online. They will use your SSN, last name or birthday to create a fake identity. Everyone should be proactive in checking your credit reports.
Incorrect account balances
You may possibly notice that your credit report is higher than it should be. While you may think that there is a problem or someone has possibly used your card, that may not be the case. It could also be a time lag. If you wish to change the balance listed on your credit report, you can get an updated balance through the credit bureau. But you may be charged for that service.
