Who Can Request a Credit Report?

Credit reports consist of personal information such as addresses and date of birth as well as bill-paying history. Under the Fair Credit Reporting Act, both on-time payments to lenders like credit card companies and late payments can reflect on credit reports. In the United States, the three primary credit reporting agencies are Equifax, Experian and TransUnion; these businesses must comply with all federal laws regarding who can access a consumer's credit report.

Potential Lenders

When you apply for a credit card, auto loan, personal loan, mortgage loan or line of credit, you give the potential lender consent to view your credit report. Some lenders just check one credit report, while others, especially mortgage companies, will look at your reports from all three major credit reporting agencies. Every time a lender views your credit report, an "inquiry" posts to your file and remains for two years. Having too many recent inquiries on your credit report can make it much more difficult for you to get credit because lenders fear you applied for a lot of credit due to financial problems.

Insurance Companies, Landlords and Employers

When you apply for any kind of home or auto insurance policy, the company has the right under the Fair Credit Reporting Act to look at your credit report. People with poor credit ratings usually pay more money for insurance policies and some are denied coverage entirely. A similar rule applies to landlords and employers; landlords can deny housing or charge higher security deposits to people with bad credit. An employer can also deny a job or promotion if the applicant has a history of serious credit problems.

Current Creditors

Once you have a credit card, loan or insurance policy, the creditor can view your reports to ensure you haven't fallen behind on your other financial obligations. Also, if a business turns your account over to a collection agency, that company can view your credit reports to determine your assets and where you currently reside.

Your Access To Credit Reports

You are entitled to at least one free credit report each year, according to the Federal Trade Commission. But you must prove your identity through completing a series of multiple-choice questions about your accounts and address history or providing a copy of a government-issued photo ID. If you're denied a job or credit and already got a free annual credit report, you can request an additional copy of your report.