There is a possibility of errors arising in your credit report. The errors can be a wrong name, address, identity number like your PAN or Aadhar card number, gender or even your date of birth. But these errors won’t affect your credit score. The errors that could actually affect your credit score are:

  • Inclusion of someone else’s loan in your credit report
  • An amount overdue that is higher than the loan that you took
  • Mistakes in the date of payment
  • Mistakes in the account status, like it might say settled or disputed
  • Error in the date of loan closure

If these errors are not rectified, they will affect your credit score which will lead to loan rejections. These errors can happen in the data submission stage, where the information entered manually would have had typographical errors. Also, during updation your “account status” must have been updated wrong. If there is an error in your credit report, you can fill and submit an online form to the credit bureau who will further escalate it to your lender. If your complaint is genuine, the necessary changes will be made by the credit bureau.

Additional Reading: What are the Common Credit Report Errors That One Should be Aware of?