5 On Your Side: How to check your credit score is accurate

Make sure you don't get turned down for a loan or end up paying higher interest rates due to an error on your credit report.

Credit report errors are the top consumer issue filed to the Consumer Financial Protection Bureau.

Rachel McLaughlin said her credit score was dinged after a gym reported a $79 debt to the credit bureau -- even though she had quit the gym and paid off the balance.

WRAL's 5 On Your Side stepped in, and the error was removed, but not before McLaughlin purchased a car, which cost her $3,000 more than it should have due to her lower credit score.

“The worker was like ‘What’s your credit score?’ and I said it should be somewhere from 790 to 805 and it turned out to be the low to mid 700s,” McLaughlin said.

The problem is getting worse, as the Consumer Financial Protection Bureau reports similar complaints have doubled in two years.

Common errors include inaccurate personal information, duplicate accounts, closed accounts reported as open and paid-off debt appearing as unpaid.

“A credit report is like an x-ray into a person’s finances," explained Lisa Gill, an investigative reporter with Consumer Reports. "And having incorrect information on that report can stop a person from getting credit or a loan, renting an apartment, getting a good rate on your insurance, or even getting a job.”

Give your credit report a checkup

You can get your credit report for free, every week, from each of the major bureaus at AnnualCreditReport.com.

If you do end up finding an error, fix it right away.

“You’ll want to file a dispute with each of the three credit bureaus -- Equifax, Experian and TransUnion," Gill said. "Include all the evidence you have, like account statements and payment records. Create a paper trail by writing a detailed letter of explanation, and send all of these via certified mail and keep copies for yourself.”

Remind yourself to check your credit score regularly -- just as you would see your doctor for a wellness exam.

If you've had to report an error, Consumer Reports recommends adding a note to your credit report file, which can provide context for future lenders, employers or landlords, potentially improving their perception of your financial situation.