Common Credit Report Misunderstandings

Here are some common misinterpretations people make about their credit reports and how to clear them up.

They have too many student loans listed for me
Student loans are often listed as separate loans for each semester of school instead of as one big loan.

I must be a victim of ID theft because someone else’s name and is on my report
Errors in information gathering commonly result in someone else’s data being mistakenly being listed on your credit report. This is just a mistake, not ID theft. You can always dispute this info off your reports at the website of the particular credit bureau.

I paid that collections account, it shouldn’t be on my report anymore
Collections agencies aren’t required to remove a collections account from your credit reports once you have paid it if the information is still timely. All they are required to is list that the account has been satisfied.

All these inquiries count against my score
Keep in mind that the only inquiries that are ever factored into your credit score are ones that happened in the past year and that were for the purpose of you applying for credit, financing, or some other type of financial contract.

Have questions or want to review your credit report (get one for FREE at with an expert? Apple’s FREE BALANCE programs makes available counselors who will be happy to guide you.  Call 888-456-2227 or visit to chat online.

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