A good credit score is important if you want to get a loan or credit card. Credit agencies provide different scores to individuals based on past payment history. The payment history could reflect payments that you made on your credit card, collections, mortgage loans and foreclosures. The credit score is usually 300 - 900 and depending on your score, you are classified as low risk or high risk. Lenders use these scores to decide whether you qualify for a loan. The terms and conditions of the loan are decided based on your individual credit score. As credit scores are so important they should be accurate but you may be surprised to know that most credit agencies tend to make mistakes when preparing these important reports. When there is inaccuracy in the report it can affect the ability of the individual to get loans on favorable terms and conditions. Although most of us assume that reports prepared by the credit agencies are accurate there are significant errors in it and thes