How To Report Your Name Change To A Credit Bureau
Let’s say you get married and decide to take your spouse’s last name. Does that mean your credit will be affected? In other words, should you change your name with the credit bureaus to ensure your information is up to date?
Reporting your name change to the credit bureaus seems like the obvious thing to do, but that’s not necessary. Instead, keep reading to find out how to update personal information on a credit report.
Do I Need To Change My Name With The Credit Bureaus?
The good news is that you don’t need to contact each of the three major credit bureaus – Experian™, Equifax® and TransUnion® – to update your personal information, including a name change.
All you need to do is contact your lenders, your state’s DMV and the Social Security Administration. Then your updated information should show up on your credit report next time your lenders report any account activity.
Does A Name Change Affect My Credit History?
When you review your credit report using tools like the one from Rocket Homes Real Estate LLC, you might find that your old name will still be there. That’s because lenders can use this information to verify your identity when you decide to apply for loans down the line. It can even alert you to potentially fraudulent activity involving your name.
A name change won’t affect your credit history. Don’t be concerned; your credit history is tied to your Social Security number, which hasn’t changed. In other words, if you have an excellent credit score, changing your name shouldn’t affect it unless you’ve done things like make a late payment.
Again, your old name and other identifying information should still be on your credit report to help as further identifying information such as when you apply for a new job.
How Do I Change My Personal Information On My Credit Report?
The order in which you contact each organization to update your name change can be important because you may not be able to update personal information without proof of ID with your lenders.
Social Security Card
The simplest way to update your Social Security card is by mail, but you can do so in person as well. To do so, head to the Social Security Administration website and follow their instructions.
You’ll probably need to submit an application, a valid form of ID and evidence of your legal name change. In some cases, you may need to provide additional information such as proof of residency and other identification documents.
Once your application is approved, you may be able to receive your new Social Security card in as little as 10 – 14 business days.
Updating pieces of ID such as your driver’s license may be necessary before contacting your lenders, since they may require one as proof of your name change. Each state has its own requirements on making a name change, such as heading to your local DMV office in person.
Just like with the Social Security Administration, you may need to provide proof of name change such as your marriage certificate. Some states will look to the Social Security Administration before approving your request, which is why it’s a good idea to update your name there beforehand.
Each lender will have its own requirements for how to manage name changes, so check with one to make sure you have all necessary information before proceeding. In most cases, you’ll need to submit evidence of legal name change, a piece of photo ID and other forms of paperwork.
Once that’s complete and the lender makes the name change, it should be updated the next time your lender submits the updated information to the credit bureaus – your credit report should reflect this change.
As for how soon it’ll take for the credit bureaus to update your personal information, it might be a few weeks. There’s no set timeline as to when you can expect it to happen (patience is key) but it could take anywhere from 30 – 45 days, depending on how often your lenders report your activity to the credit bureaus (typically once a month).
Is There Anything Else I Need to Know?
Even though a name change doesn’t factor into how your credit score is calculated, you’ll still want to make sure your personal information is correct on your credit report. If not, you can face issues, especially if you want to apply for a loan, new credit or even to move into a new apartment.
That means monitoring your credit using tools like Rocket HomesSM to see when your name has been updated with lenders. Then, review your credit report with all three major credit bureaus and dispute any inaccurate information so you can get it resolved as soon as possible. For more articles like this one, check out our credit resource center.
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