Credit Score ‘Misused’: How To Fix This Key Metric

There has been increased reporting of 'Credit Score Misuse' in recent times. Your credit score is a key metric in loan applications and credit processes. Someone misusing your credit score is a serious issue and can lead to a number of negative consequences. This article will review the key factors that can be used to identify and fix credit score misuse.

How To Find Out If My Credit Score Has Been Misused?

The simplest way is to check your credit score regularly to identify any changes in your score. Once you have this information, you can check to see if there have been any misuses of this score.

A user is entitled to one free credit score from each of the credit bureaus in India. There are 4 credit bureaus in India; CIBIL™, Equifax, Experian and CRIF High Mark. Individuals are entitled to one free credit report, as well as their credit score, from any of the credit agencies, every year. CreditMantri also provides a free credit score as well as a full credit analysis report to assist you in making informed decisions and discovering the finest credit solutions for your needs.

If you find any discrepancies in your credit report, you can dispute them with the respective credit bureaus. 

Why Is It Important To Rectify Errors In Your Credit Score? 

With an increase in the number of fraud and identity theft, your credit score is not any safer. In recent times, a reputed financial company was the victim of fraud where a number of loans were availed based on false identity. These loans were left unpaid and when the lender contacted the owners of the PAN numbers or credit scores, they learnt that they were defrauded. This was a shock to the credit score owners too who had absolutely no idea that their information was being misused to avail loans. 

This has been an eye-opener to borrowers and lenders alike, sending alarm bells regarding the misuse of credit score. The total number of defrauded borrowers is really alarming. More concerning is the security of the information that is available on these credit scores.

With digital financing taking over traditional bank loans, users have to be particularly vigilant about any changes in their credit scores.

Also Read: How to correct your Equifax Credit Report

What Should I Do If My Credit Score Has Been Misused? How To Fix This Key Metric?

You should immediately inform the credit bureau that a fraud has been committed. This can be done through either calling the credit bureau in person, or by sending a letter of complaint to the credit bureau that has issued the fraud. 

Report the same to the respective lender to ensure that any loan or credit against your name is closed down and your name is in the clear. 

Timely reporting can avert any further problems arising in the future, as well as the complications and problems related to the misuse of credit score.

What Are Some Instances Where I Can Dispute Errors On My Credit Report?

As credit reports become more and more important in obtaining credit, you should dispute any information that you believe is wrong or inaccurate. These inaccuracies on your credit record can be fixed or deleted.

Incorrect or misleading information on your credit report could hurt your credit score and, as a result, your chances of getting a loan. You can theoretically contradict anything, but the credit bureau would conduct an audit and remove just the information that is needed by rules. You have the right to dispute information on your credit report that you believe is incorrect, incomplete, out of date, or cannot be verified.

A few common errors and inaccuracies you can dispute on your credit report are:

  • Incorrect personal information like name, mobile number, or PAN number
  • Incorrect loan accounts listed under your name
  • Incorrect credit limit against your credit card
  • Account status – Settled, Closed or Written Off
  • Incorrect no-payment record
  • Incorrect payment history

Also Read: How to rectify errors on your CIBIL™ Report 

Simple Steps To Prevent Errors Or Disputes On Your Credit Report

A credit report has a lot of ramifications when it comes to loan applications. As a result, it's a good idea to keep a watch on your credit report for any inconsistencies.

When it comes to your credit reports, here are a few things to keep in mind.

  1. Examine your credit report on a frequent basis – You are entitled to one free credit report from a credit agency per year, according to RBI guidelines. In India, you can acquire four free credit reports from four distinct credit bureaus. Take advantage of this perk and keep your credit report up to date. Report any discrepancies to the bureau as soon as possible.
  2. Compare notes — Not every lender reports to all four credit bureaus. So, check reports from all three credit agencies to see if the gaps are due to errors or simply a lack of information from the lenders.
  3. For personal information disputes, contact the lender first — The lender is the primary source of information for credit bureaus. If you see any inconsistencies in information such as your name or address, contact the lender first to ensure that they have the correct information.


The ideal practice is to review your credit report on a regular basis to verify that it is accurate and free of errors. Check out CreditMantri's entire credit health report today! If you want to file a dispute, contact the credit bureau right away. If the error is real, the credit agency is required to repair it and update your credit record within a month.

FAQs: Credit Score ‘Misused’: How To Fix This Key Metric

1:Is it possible for someone to misuse my credit score?

Yes, fraudsters can steal your financial information like PAN details and other identity information and apply loans in your name. 

2:Can I remove a fraud entry from my credit score? 

If a person has misused your information to avail a loan and it reflects on your credit report, you can contact the lender and credit bureau and get it removed. 

3:How can a fraud credit entry impact my credit score? 

Even if it is fraud, the loan or credit is entered against your account affecting your total credit utilization ratio, credit history and repayment record. Failure to repay the loan, which the fraudster is sure to do, will have negative ramification on not just your credit score but on you as a person too. 

4:How can I know if someone has misused my credit score? 

The simplest way is to check your credit score regularly and carefully identify any false entries or unknown credit records. 

5:Whom should I contact to get a fraud entry removed from my credit report? 

Ideally, you should first contact the lender and clarify your stand about the fraud loan or credit so that your name is cleared from the loan account. The lender should update the credit bureau about the same who will update your credit score. In any case, you can also contact the credit bureau and follow up with them on the same.