A 620 credit score sits in the "fair" range—not terrible, but not great either. If you’re stuck at this number, errors on your credit report could be dragging you down. In today’s economy, where inflation and rising interest rates make every point on your credit score matter, fixing inaccuracies is more important than ever.

Why a 620 Credit Score Hurts Your Financial Health

A 620 FICO® Score means you’ll face higher interest rates on loans, struggle to get approved for premium credit cards, and may even encounter difficulties when renting an apartment. With housing costs skyrocketing and lenders tightening standards, even a small error on your report could cost you thousands over time.

Common Errors That Tank Your Score

1. Incorrect Personal Information – Misspelled names, wrong addresses, or mixed files (where someone else’s credit activity appears on your report).
2. Outdated Negative Items – Late payments, collections, or bankruptcies that should have fallen off after 7-10 years.
3. Duplicate Accounts – The same debt listed multiple times, making it look like you owe more than you do.
4. Fraudulent Accounts – Identity theft can wreck your score if criminals open credit lines in your name.

Step-by-Step Guide to Disputing Credit Report Errors

1. Get Your Free Credit Reports

Under U.S. law, you’re entitled to a free report from each bureau (Experian, Equifax, TransUnion) every 12 months at AnnualCreditReport.com. Due to pandemic-era extensions, you can still request weekly free reports through 2023.

2. Review Each Report Carefully

Look for:
- Accounts you don’t recognize
- Payments marked "late" that you paid on time
- Balances higher than what you actually owe
- Old debts past the reporting deadline

3. Gather Evidence

Collect documents like:
- Bank statements showing on-time payments
- Letters confirming resolved disputes
- Identity theft reports (if applicable)

4. File a Dispute with the Credit Bureaus

Each bureau has an online dispute portal, but for complex issues, send a certified letter with:
- Your full name and address
- A clear explanation of the error
- Copies (not originals) of supporting documents

Sample Dispute Letter Template:

```
[Your Name]
[Your Address]
[Date]

Credit Bureau Name
Dispute Department
Address

Subject: Dispute of Inaccurate Information

Dear Sir/Madam,

I am writing to dispute the following items on my credit report:

1. [Creditor Name] – Account #XXXX
   • Error: [Describe inaccuracy]
   • Proof: [Attach evidence]

Please investigate and correct or remove these items within 30 days as required by the Fair Credit Reporting Act (FCRA).

Sincerely,
[Your Name]
```

5. Follow Up and Escalate if Needed

Bureaus have 30 days to respond. If they don’t fix the error:
- Re-submit with additional evidence
- File a complaint with the CFPB
- Consult a consumer rights attorney

How Inflation and Economic Uncertainty Make Credit Repair Urgent

With the Fed raising interest rates to combat inflation, loan approvals are harder to get. A 50-point boost from fixing errors could mean:
- Mortgages: Saving $200/month on a $300K loan
- Auto Loans: Qualifying for 5% APR instead of 12%
- Credit Cards: Accessing 0% balance transfer offers

The Role of AI and New Credit Scoring Models

Companies like Experian now use "Experian Boost" to factor in utility payments, while FICO® 10 T considers 24 months of trended data. If your report has errors, these tools won’t help—clean data is essential.

Protect Yourself from Future Errors

• Freeze your credit to block unauthorized inquiries
• Set up fraud alerts if you suspect identity theft
• Monitor your score monthly with apps like Credit Karma

A 620 score isn’t a life sentence. By disputing errors aggressively, you can break into "good" credit territory (670+) and unlock better financial opportunities.