Why Credit Scores are Not Always Accurate

Often people ask "why aren't credit scores accurate" or "how come my credit score isn't right." The answer is quite simple actually, Credit Bureaus are not very efficient and have a lot of work to do so there is a lot of information that falls through the cracks or simply doesn't get attended to. Once again the adage "The squeaky wheel gets the oil" applies.

The Fair Credit Reporting Act (FCRA) says that all US citizens have the right to contact the credit bureaus and dispute any items on their credit reports, which of course make up the credit score. The credit bureaus need to verify that all information is correct and if they cannot verify the information then the disputed item must be deleted.

Credit reports span several years and can be include not only credit card or loan information but cell phone queries, store memberships and even shopping habits. Because the time span is quite long it is very easy for something not to get deleted or reported as closed. Often addresses and even personal information is old and outdated.

For these reasons it is usual for there to be inaccuracies on your credit report and thus an inaccurate credit score.

Credit Bureaus have incentives to not follow-up or even look into credit disputes because it can be labor intensive and cumbersome, costing the Credit Bureaus money. The Bureaus unfortunately are often not very helpful and actually it has been said try and dissuade people from reporting problems with their credit scores because of this.

Using a trained agency or law firm to help fix your credit is often the most efficient and fastest way to get your inaccurate credit score fixed. Using a trained agency or law firm to help fix your credit is often the most efficient and fastest way to get your inaccurate credit score fixed. For more information on how to fix your credit score go here.