Q&A: Credit report mistakes are common. Here’s how to fix them

Dear Liz: Two of my credit card issuers have drastically lowered my credit limits. They blamed my credit report at Equifax. At first, Equifax could not even find my report. I had to send paperwork to verify that I even exist. It turned out that my credit file had some inaccuracies. One of the credit card companies restored the credit limit on one of my cards but kept the lower limit on the other card. I have filed complaints with the Consumer Financial Protection Bureau and would appreciate any advice as I am confused and upset.

Answer: That’s understandable, and you’re not alone. Problems with credit bureaus topped the CFPB’s list of consumer complaints in 2022.

You did all the right things: getting a copy of your credit report, disputing the errors, following up with the credit card companies and filing a complaint with the CFPB when your credit limits weren’t restored. The CFPB will reach out to companies to help facilitate a resolution.

If that doesn’t work, consider contacting your local congressional representative. These lawmakers typically have constituent services staff that may be able to help.

You should check your credit reports at Experian and TransUnion in case the errors aren’t limited to a single bureau. If the inaccuracies stem from possible identity theft, consider freezing your credit reports at all three bureaus to make it harder for scam artists to open new accounts in your name.