My 3 Credit Reports

Written by Jessica Duquette
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My 3 credit reports uncovered multiple inaccuracies that I was unaware of. As you will find with many credit reporting agencies, even the slightest error can have a negative effect on your FICO score. To prevent this from happening to you, I strongly urge you to take advantage of free online credit reports.

About My 3 Credit Reports

When meeting a mortgage consultant for the first time, I found several credit card accounts that were still open and active. Though I was sure these accounts had been closed, they remained on my history and decreased my final score. Even a retail store account that I had opened ten years ago was listed, and that store went out of business in 1996.

This is just one example of how inaccurate credit reporting agencies can be. All of my 3 credit reports had listed this account even though the merchant had gone out of business. How can this be counted against me when I can't even make a purchase?

Close Unnecessary Accounts

Calling each of your account holders and asking them to close the account is the first step. We are not suggesting you close all of your accounts, but definitely the ones you no longer need. While you may have saved ten percent on your wife's engagement ring purchase by opening an account, your lack of activity on that same account should tell you the need for a revolving credit at that particular store is worthless.

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