If you spot errors on your Experian credit report, you should file disputes. Otherwise, your credit scores will continue to suffer. Even worse, you could be denied credit cards, loans, or housing, just to name a few. And if you are offered credit, chances are you’ll have a higher interest rate.
Don’t know where to start? This guide will show you how to dispute errors on your Experian credit report.
Understanding the contents of your personal credit report makes it easier to spot errors so you’ll know which items to dispute. Your Experian credit report contains:
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When reviewing your credit report, look for:
To resolve errors on your Experian credit report, you can dispute by mail, online, or phone. If possible, it’s best to file disputes by mail to have a paper trail and take advantage of all the consumer protections available to you.
You should also contact the creditor to notify them of the filing, as they may be able to rectify the issue on their end.
You can file a dispute by mail by writing a letter like the one found here. In your letter, be sure to include:
Experian also requests that you include any addresses you’ve lived in the past two years, a copy of a utility bill, bank or insurance statement, and a copy of a government-issued ID in your dispute package.
You can mail the dispute letter should be to:
Experian
Consumer Dispute Center
P.O. Box 4500
Allen, TX 75013
Mail in copies of the credit report and any supporting documentation, but keep the originals for your records. You should send your letter and documents via certified mail with a return receipt requested.
You can file a dispute online with Experian by creating a profile. After creating your profile, you can begin the online dispute process by logging in to the dashboard and taking the following actions:
To dispute by phone, you’ll first need to request a copy of your credit report by completing this form. You can also call 866-200-6020.
When you have the credit report in hand, you can call the number listed on the report to submit your formal dispute. Once the call has ended, promptly submit a copy of your annotated credit report and supporting documentation to Experian for review using the instructions provided by the agent.
Experian has 30 days from the initial receipt of your dispute to reach out to the creditor, investigate the claim, and issue a response.
If the creditor, lender, or furnisher of the information is unable to refute or fails to respond, they must remove the information from your credit report. You should also receive a notice from Experian indicating the outcome and what information was removed.
But if they are able to refute your claim, your credit report will remain unchanged, and Experian will communicate additional information regarding the outcome in writing.
If you filed online, you can check the status of your Experian dispute or view the results at any time by visiting the online dispute center.
Sometimes you may also have better luck filing a dispute directly with your creditor, even if your Experian dispute was unsuccessful. The creditor is the one who actually reports your account information to the three major credit bureaus, so they can also remove negative information from your credit report. You can mail them a letter requesting deletion, just as you would with Experian.
A dispute doesn’t stay on your credit report as a lasting mark unless you request a dispute note after an unsuccessful attempt. However, even that doesn’t hurt your credit. The way you see a change in your credit score is after the dispute process, and in most cases, it will be a positive one.
For example, if you correct a large outstanding credit card balance listed on your credit report, you’ll see a jump in your credit scores because your credit utilization will be lower. The same holds true with inquiries and late payments. The increase may not be enormous depending on the type and number of entries you get removed, but each will contribute to a better overall credit history.
Furthermore, be aware of the “XB” effect. XB is a credit report code used by credit bureaus to indicate that a particular account is currently being disputed. During this time, Experian doesn’t include that account as part of your credit score if it happens to be pulled.
So, you may end up seeing a significant jump in your credit score because that balance and any associated late payments aren’t contributing to your score at all. Once the dispute is over, the credit bureau will lift the code. The account is once again included and will also reflect any changes made as a result of the dispute.
Making sure your Experian credit report is accurate is essential for maintaining a healthy financial profile. By reviewing it regularly, you can identify any inaccuracies quickly, which allows you to correct them before they impact your financial opportunities negatively.
Addressing these errors not only helps in securing fair terms on loans and credit cards but also safeguards your ability to secure housing and other essential services. By proactively disputing inaccuracies, you maintain your credit standing and potentially improve your credit scores.
Learn how to get help disputing errors on your credit report that could be hurting your credit score.
