International Baccalaureate (IB) Practice Exam 2025 – Complete Study Resource

Under the Fair Credit Reporting Act (FCRA), consumers have the right to dispute inaccuracies on their credit reports. When a consumer identifies an error, they are encouraged to ask the credit bureau to investigate the discrepancy. This involves providing the credit bureau with information regarding the error, which they are then obligated to review and correct if necessary. This process ensures that consumers have a mechanism to maintain accurate credit reports, which is crucial for obtaining loans, credit, and favorable interest rates.

The other options do not align with the provisions of the FCRA. Simply ignoring the error neglects the responsibility of consumers to ensure the accuracy of their credit report, while only reporting it to their bank does not prompt a necessary investigation by the credit bureau. Applying for new credit to "offset" an error would not rectify the issue and could potentially exacerbate the situation regarding creditworthiness. Thus, initiating an investigation through the credit bureau is the correct and most effective course of action for consumers.