Having name confusion on a credit history isn't something that occurs on a common basis.  However, the most common problems are normally family members that have similar names, or even being Jr.'s, Sr.'s or III, etc. In addition, people with common names could have some concerns.  However, since credit is based on primarily on a combination of names, social security numbers, and dates of birth, it is rare.  It is however, possible.  If you suspect or verify that incorrect information is in your file, you should contact the credit bureau (i.e. Trans Union, Experian) and file a customer dispute to have it removed.

The minimum score for a loan will vary based on many factors.  Although it is common to think that the higher the score, the better your credit, this doesn't always mean that you would not qualify for a loan.  Every bank operates under their own policies and procedures, and the best idea is to visit the bank and speak directly to a lender to understand available options.  Therefore, a person would need to visit with a loan officer of a bank to know more about their eligibility.  At Arvest, we don't have a minimum credit score requirement.  Instead, a customer must have reasonably good credit, along with the capacity to repay the loan. 

Keep in mind: With the increase in Identity theft, it is important that consumers become more aware of what is on their credit.  Good or bad, your credit should be yours.  The best way for someone to control their credit is to know what's on their credit report.  All consumers are entitled to one free credit report per year from each of the major credit bureaus.  Although there are some that are advertised as free credit websites, there are usually fees involved, such as credit monitoring or other services.  However, if you visit, www.annualcreditreport.com , you can obtain a free credit file on yourself.  This is a great way to take control of your credit.