Interview: Finding and fixing errors in your credit report

SEATTLE -- Nearly 42 million Americans have some error on their credit report, according to a new study released by the federal government.

The Federal Trade Commission said Monday that while most of errors are minor, others are big and damaging enough to drop you into a lower credit tier, leading to higher interest rates on loans and costlier insurance payments.

Todd Pietzsch, with the credit union BECU, says consumers should be checking their credit report at least once every four months.