Credit reports can be the key to unlock the door to good interest rates on loans and credit cards, but one error can slam that door shut.
“The cost of having an error on your credit report that is actually tanking your score can be substantial, as it leads to less favorable terms when borrowing,” said Leslie H. Tayne, a personal finance expert and attorney at Tayne Law Group. “If you are trying to buy a home for your family or a car to get back and forth to work, for example, loss of access to funding or paying thousands of dollars more in interest can be detrimental.”
