Sunday, October 11, 2009

How does a wrong address affect my credit report?

I got a copy of my credit report and the address listed under "current address" is in another state, and I've never lived there! I don't know where this address came from, and will dispute it, but how does that affect my credit report?

How does a wrong address affect my credit report?
In my opinion, it's a red flag that something's either very wrong or your a victim of identity theft.





Comb your credit report carefully, make sure you recognize each and every tradeline on it.





Also, I believe if you CALL the credit reporting agencies and ask them about that address, they'll tell you what creditor gave it to them and you can follow up, find out why they have it (if they are one of your lenders), or begin taking fraud/id theft prevention steps in case you didn't know about them.








I don't mean to suggest the sky is falling, but with something like this it's really a good idea to look up and make sure it's not.
Reply:The address itself won't affect your score, however that should be a red flag for you....it means that somewhere...somehow...you were reported as living at that address. Be sure to double check all credit lines, defaults, and especially inquiries. It should show the date that address was reported. Compare that date, to the credit inquiries section of the report. See if there are any similarities....if so, you need to contact those companies right away, as someone may have been trying to obtain credit at your name, with an out-of-state address.
Reply:Actually it has no affect at all on your credit score or profile.





It may be misleading if you apply for credit though because the information on your application and your credit would not match so I would recommend that you dispute it and have it removed.
Reply:I can give you one example.


My mother who has a score in the 800's, applied for a store credit card. They turned her down!


She was frantic. We ran all three reports, and paid for scores. Still good, and still in the 800's.


The reason?


Because the address she put on her application did not match the one on the credit agency they pulled her report on.





It doesn't affect your credit report or scoring per se, but, it can get you turned down.


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