| With increased consumer awareness about the | | | | pretty much all of us, good credit report or not, have |
| importance of a good credit score, regularly viewing a | | | | received many unsolicited offers in the mail for |
| credit report, and the negative or positive impact that a | | | | pre-approved credit cards, auto insurance, etc. It's one |
| score can have on your finances, it's practical to want | | | | of the ways they market their products. |
| to know who else can see your credit score. Your | | | | However, credit reporting agencies may not compile |
| credit score and report are snapshots of how you | | | | and sell information taken from credit reports for the |
| handle your affairs and key indicators of your risk to a | | | | purposes of direct marketing. (Credit agencies have |
| lender. So who has the right to check your credit | | | | done this in the past, but the inevitable abuses of using |
| score? | | | | reports in this way led to a ruling against these |
| Any people or organizations who have a "legitimate | | | | practices issued by the Federal Trade Commission in |
| business need" can check your credit score. The | | | | March 2000.) However, there is some personal |
| phrase "legitimate business need" casts a broad net | | | | information that cannot be included in your credit report |
| over who can access your score, and people and | | | | by law, including: |
| entities that fall under the category include: | | | | · Medical records without your consent |
| · Current and prospective employers (with your | | | | · Age, race, or marital status if the request comes |
| consent) | | | | from a prospective employer |
| · Child support enforcement agencies at the state | | | | · Debts that are more than seven years old |
| and local levels | | | | · Notices of Chapter 11 bankruptcy more than ten |
| · Any government agency (how's that for a broad | | | | years old |
| net?) | | | | · And some other pieces of personal information that |
| · Landlords | | | | can vary from one state to another |
| · Credit card companies | | | | It's important to remember that each time a person or |
| · Mortgage and auto loan lenders | | | | agency requests a copy of your credit report, that |
| · Insurance companies | | | | request is noted and included in the report. If too many |
| In short, anyone who's considering extending credit of | | | | requests are made in a brief period of time - for |
| any kind to you can check your credit report and | | | | instance, if you applied for a store charge card or a |
| score. | | | | car loan, rented a new apartment, filled out a credit |
| Can a Credit Report Be Used for Any Purposes | | | | card application, etc. - it can negatively affect your |
| Beyond Determining My Creditworthiness? | | | | credit score. From a lender's perspective, that many |
| Sadly, the answer is yes. TransUnion, Experian, and | | | | requests for credit indicate desperate behavior. More |
| Equifax - the three main credit reporting agencies in | | | | than anything, you have the right to check your credit |
| the U.S. - are allowed by law to create and sell lists to | | | | files, so be sure to exercise your rights by obtaining |
| credit and insurance companies for the purposes of | | | | your scores and copies of your credit report regularly. |
| "pre-approved" insurance and credit offers. In addition, | | | | |