Correction of Incorrect Records
A credit card is very useful. Several credit cards are even more useful for different spending needs. But if unknown to you, incorrect information is being sent to the credit reference agencies by your credit card issuer it could affect your ability to obtain credit or credit cards in the future.
You have a credit card. You use it for your day to day financial transactions. You know that your financial information goes on to your credit report. But how can you be sure that incorrect information is not being held by the credit reference agencies? If incorrect or outdated information appears on your credit report, such as missed payments, it could affect your chances of obtaining a credit card in the future. You should always check your credit report periodically, not only to see if you have become a victim of identity fraud, but also to ensure that incorrect information about your credit card transactions has not been posted.
You should always keep all your receipts and check them against your credit card statements. If you find any errors that you wish to dispute contact your credit card issuer. They will have standard procedures to handle customer disputes. If you have all the relevant information to hand the dispute should be resolved quickly. If the credit card issuer accepts the error they are obliged to correct their records and to inform the credit reference agencies of their error within 28 days.
If the disputed item cannot be resolved between the parties the you should contact the credit reference agencies directly sending them copies of the relevant paperwork together with a copy of your credit report. They will then carry out their own investigation and if necessary refer the matter back to the credit card issuer who supplied the original credit information to them. If it transpires that incorrect information was supplied by the credit card issuer your credit file will be amended accordingly.
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