Who Can View My Credit Report?

Your credit report contains all sorts of personal information: your address, employment history, social security number, etc. This report also bears the summary of your credit history, your account numbers, and overdue accounts.  If you have accounts that were turned over to credit agencies, these will also show in your credit report.

All this information is very useful to organizations, as they can determine if you are eligible to acquire their services. Continental Finance will access your credit report to decide which credit tier would suit you best. Many credit card companies are quick to reject applicants based on a negative credit report. However, Continental Finance takes time to thoroughly review the applicant’s history to ensure fair treatment with the goal of giving consumers the opportunity to rebuild their credit score.

It’s not just financial that will need access to your credit report. Employers may require a credit history screening. If you are looking to rent an apartment or house, many landlords will check your credit report to determine if you will pay in a timely manner. Basically, most organizations that you have initiated business with will probably need to check your credit report to determine your eligibility.

You should also know, many lenders and merchants purchase memberships to credit bureaus for fast and easy access to customers’ credit history. However, credit bureau members have a contract limiting their usage; they are only allowed access when they are considering persons for employment, extensions of credit, or other legitimate business reasons.

If you’re now worried about the safety of your credit report information, you shouldn’t be. There is a law established that protects your credit report information. The Fair Credit Reporting Act (FCRA) specifies who are allowed to access your credit report and why. This act states that a company/individual must have a legitimate reason to view your credit report. Any organization or individual who acquires a copy of your credit report under false pretenses can be fined and jailed for up to a year.