Who Has Access To Your Credit Report?

Not everyone has a right to view your credit history, and those who do have access will usually ask for verbal or written permission.

Your credit report can be accessed by individuals and companies that have a "legitimate business need," such as when you, the consumer, applies for a credit card, personal loan, home loan, car loan, employment opportunity, insurance, apartment rental, or other opportunities in which credit is needed.

If you've ever applied for anything that requires a check of your credit history, there is a file about you that contains information about you that includes your address, social security number, your place of employment, how you pay your bills, and whether you've filed for bankruptcy, been sued, or if you've been arrested.

Those who may have a need to do a background check on your credit includes:

• Landlords
• Banks
• Mortgage companies
• Credit card companies
• Insurance companies
• Department stores
• Jewelry stores
• Automobile dealerships
• Employers
• State and local law enforcement agencies
• Any governmental agency
• State and local child support agencies

In most cases, a creditor will ask for your permission to access your credit report, but there are instances when permission is not required, such as pre-approved credit offers.

Finance Topic of the Month: Federal Deposit Insurance Corporation (FDIC)