Although many types of inaccurate information on a credit report can severely damage your credit score and your ability to get credit, an incorrect address on a credit report usually will not do any damage, says Liz Pulliam Weston of MSN MoneyCentral. However, it is always best for your credit report to have accurate information, and luckily the process for changing an address on your credit report is simple and straightforward.
Step 1
Determine which credit bureaus are reporting the incorrect address. Experian, Transunion and Equifax are the three main credit bureaus that report consumer credit. Check the credit report from each credit union to see which bureau is reporting the mistake. You can get a copy of these reports from each credit bureau's website or get free copies of each report once a year through the website AnnualCreditReport.com.
Step 2
Dispute the inaccurate address with each credit bureau reporting the error. Although you usually can dispute inaccurate information online, to change an address you will need to provide proof of your identity and current address. Therefore, you will need to send a dispute letter in the mail or by fax along with two photocopies of proof of identification and your new address. Examples of this proof include include a driver's license, a utility bill, a credit card statement, a paycheck stub or a Social Security card. MyFico.com suggests sending the letter via certified mail and requesting a return receipt to make sure the letter is delivered to the credit bureau and for your own records.
Step 3
Check your mail. When the credit bureau completes the change, you will receive a new copy of your credit report in the mail with the new address displayed. Although credit bureaus typically have 30 days to conduct an investigation for disputes, it may not take as long to verify a new address, particularly if you sent the proper proof.
Tips and Warnings
- Double-check your credit card and loan statements to ensure all your creditors are displaying your current address as well. Make sure you make photocopies of all letters and materials that you send to keep for your own records.
- If you notice an unfamiliar address on your credit report, this could be a sign of identity theft, warns Weston. If this occurs, contact the credit bureau immediately. Companies claiming they can fix your credit report should generally be avoided, especially for matters as straightforward as an address change, as these companies do not provide any service that you could not do yourself for free.
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