You may be shocked to find that your credit report features outdated personal information. This could include a previous job, home, or legal name that you’ve since changed. Many credit holders wonder if a credit report with outdated information can negatively affect their credit score. Well, we here at Selfscore would like to assure you that the answer is NO. It’s also quite easy to update that information through your credit card company. Here’s a few things to keep in mind as you review your personal information:
Beware of Fraud
While some of the information on your credit report may be outdated, some of it may be completely wrong. This could be a warning that you’ve been a victim of identity theft or that someone has attempted to open a line of credit in your name. If that is the case, take care to set up a fraud alert and file a dispute, if necessary.
Fix It And Forget It
If you review your credit report and notice outdated information, simply report it to your creditors. They’ll share the updated information with the major credit bureaus the next time they submit their monthly updates. This can take anywhere from 30 to 45 days to show up in the credit bureaus’ databases, so be patient. Of all the things to worry about in your credit report, this should be the least of them.
Old Information Is Good Information
You actually want a lot of old addresses and jobs to show up in your credit report. Companies use that information to confirm your identity when you’re applying for loans or other lines of credit. This is an excellent safeguard against identity theft. However, don’t worry if all of your information isn’t listed or an address is missing—your credit report does not need to include all past information to be accurate.