One in five credit reports has an error on it that could affect your score, according to the Federal Trade Commission. Does yours?
Many people have no clue. A 2013 TransUnion survey found that nearly one-third of Americans had never checked their credit report, and another 25 percent had not done so in the past year. In 2014, the Consumer Federation of America estimated that 51 percent of millennials had never checked their credit report.
To be fair, wading through your credit report isn’t exactly a quick exercise. They can often be 20-plus pages in length, and there’s a lot of data there to absorb. It’s tough to know what to look for.
My article on CNBC.com breaks it down for you. We’ve tagged a sample report with potential trouble spots and fine print to pay attention to.