25 percent of credit reports contain errors

According to the U.S. Public Interest Research Group (U.S. PIRG), 25 percent of all credit reports compiled by the three national credit reporting bureaus (Experian, TransUnion and Equifax) contain errors that are serious enough for credit grantors to deny credit applications. Even if an application is approved, the interest rate is likely to be higher, costing the consumer hundreds, if not thousands, of dollars.

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