Who Has Access to My Credit Report?

Your credit report is a very important database of information about you and your financial history. It is rightly kept confidential for most purposes, but several agencies and companies can look at it. Some need your permission to access the report, and some do not. Access to your credit report is regulated by the Fair Credit Reporting Act.

You

You have the right to see, for free, the information compiled about you by the three credit bureaus once a year. You can do this through Annual Credit Report, the only authorized website backed by all three agencies to provide truly free reports in accordance with federal law. It can be a good idea to request the report of a different agency every four months, as you can then check your credit three times in one year. Each agency has procedures in place for you to dispute any information on the report that you think is inaccurate.

Lenders

If you request a loan from a bank or mortgage broker, you give it permission to check your credit report. This is also the case when you open a credit card account --- the company will check your credit report as a matter of course. If you are denied credit as a result of a check during the application process, the lender must inform you of this in writing. Credit card companies that want to send you pre-approved card offers can also check your credit without your permission. Companies through which you already hold loans or credit card accounts can access your report periodically as part of the routine maintenance of your account.

Insurers

If you apply for homeowners or auto insurance, the insurance company will check your credit as part of the underwriting process. Your credit score and the information in your report will affect the terms of the insurance that you are offered.

Employers and Landlords

Most private landlords will request a credit check before deciding whether to rent to you. You must consent in writing to this credit check and give your Social Security number so that the landlord can access your report. Many employers also do a credit check as part of the screening process before offering you a job. Again, the company must get your express permission to access your report.

Government Agencies

If you are ordered by the courts to pay child support, the agency in charge of administering the payments can access your credit report. Law enforcement agencies also have the right to see your credit report in connection with terrorism or counterintelligence investigations.