New Delhi, March 12 -- While evaluating a personal loan or any other loan application, the financial institution considers a good credit score one of the most important criteria. The decision to approve or reject the loan application will depend on a good credit score and other criteria. Hence, individuals must check their credit score and credit report regularly. At times, the credit score may fall due to error(s) in the credit report. Regular checking of the credit report helps identify errors, if any, and take corrective action to rectify them. In this article, we will look at some common credit report errors you must watch out for.

Check the loan and credit card balances reflecting as of the last reported date. Are the balances up to...