Credit report data are highly accurate and reliable. Various studies have determined the accuracy rate of credit reports exceeds 98 percent. In short, consumers are served exceptionally well by the accurate and complete information contained in their credit reports that enables them to purchase on credit those goods and services that are important to the well being of their families.
Facts: The Federal Reserve Board Says the Effect of Credit Report Errors Is “Small”
“This analysis of the effects of data problems on credit history scores indicates that the proportion of individuals affected by any single type of data problem appears to be small.”
Source: CDIA and Federal Reserve Board