Should I Bother Correcting Incorrect Addresses on My Credit Report?

It is important to keep credit reports up to date and correct.

Correct the Address

Some financial experts say it is best to keep the credit report as up to date as possible, including current and previous addresses. According to the Federal Reserve Bank of San Francisco, lenders look at the credit report before loaning money or authorizing credit limits and need to see accurate information before making a decision.

Leave Incorrect Address

According to SelfCreditRepair.org, it is not necessary to correct an incorrect or misspelled address on a credit report unless it is a result of identity theft. Instead, focus on accounts and their status rather than name, employer or address.

Bottom Line

It is important to correct everything on your credit report, but start with those items that affect your score, then focus on correcting the smaller errors. Items to focus on correcting that affect your score include account late payments, charge-offs, collections, credit limits or negative information older than seven years.