Close-up of the upper corner of a consumer credit report from the credit bureau Equifax, with text reading Credit File and Personal Identification. (Smith Collection/Gado/Getty Images). WASHINGTON - An Equifax glitch has left thousands of consumers unsettled and worried about how the error could affect their credit scores and reports.
A coding issue caused the credit reporting agency to misquote credit worthiness for a small percentage of consumers.The errors occurred over three weeks between mid-March and early April.
An analysis by Equifax shows there was no shift in the majority of credit scores. For consumers who did experience a change, only a small number would have received a different credit decision, Equifax said in a statement.RELATED: Equifax misquoted credit worthiness for some consumersEquifax said less than 300,000 consumers had a score shift of 25 points or more.
Such a drastic change in a person’s credit score could impact their ability to secure a loan, line of credit, mortgage, and how much interest you may pay for a loan.A Florida woman sued Equifax claiming she was denied a car loan because of a 130-point mistake in her credit report that she says was part of a larger group of credit score errors the rating agency made this spring.Determining whether or not your credit scores were compromised is a challenge.