Credit bureaus collect information from various banks and financial institutions to prepare your credit report. Each credit bureau has its own proprietary algorithm to calculate your credit score. 

Credit bureaus only gather and process your information. They do not have the authority to change or delete your credit score record. Unless there is an error, credit bureaus cannot change any part of your credit report. 

Some of the errors that might happen in 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
  • Incorrect no-payment record
  • Incorrect payment history

How to get these errors corrected?

  • You can dispute these errors by filling the dispute form for the respective credit bureau. 
  • Upon submitting the form, the credit bureau shall verify the information and make the necessary corrections to your credit report. 
  • It generally takes up to 30 days for the dispute to be resolved and your credit score to show the right report. 

Note: 

While errors like personal information or demographic data can be rectified quicker, errors relating to your account status, loan information or repayment history can take a longer time to be rectified. Nevertheless, you should approach the credit bureau and get these errors corrected so that your credit score reflects the correct data.