Who does the credit rating?

Many people realize that their credit scores and credit report contain valuable information that they need to safeguard. Getting your credit reports and scores checked is one thing, but who else has access to that information? Many people are surprised to find out who can legally access their credit report, view their credit scores, and get access to other bits of information contained in these reports. The bureaus are the ones who ‘have’ the report and score per se because they are the ones everyone must go through to get access to that information. They create the records and keep track of your credit history, but there are many other instances where individuals, businesses and organizations can gain access to your credit report and your credit scores.

Getting Your Own Credit Report

Most commonly known as a consumer disclosure, this is where you view your own files and records. You have the right to get a copy of your credit report and updated scores whenever you want, for whatever purpose you want. It may cost you money to pull more than one copy a year, but it is your right to see it and have access to it whenever you want, and many people check their reports several times a year.

Court Ordered Report Check

Under the order of a court of law, if it is deemed important to a current legal case, someone’s credit reports can be accessed and given to the courts. It can be used in divorce hearings, will challenges, crime investigations, and other common court cases.

Credit and Loan Applications

Most people realize this but it is worth mentioning. Whenever you apply for a line of credit, a new credit card, or a loan, the lender has access to your credit report so that they can determine whether or not they want to lend you any money. Credit cards, auto loans, home loans, and student loans fall into this category.

Employment Screening

This can vary from state to state and depending on the job you are applying for but yes, in some instances your potential employer can pull your report before they hire you or during your employment if they have cause to do so because you work in a sensitive area or have access to sensitive information. Some potential employers even use it as way to gauge trustworthiness before they will consider hiring you.

For Insurance Purposes

Insurance companies are granted access to a modified version of your credit report. They have access so that they can determine if they want to do business with you and what rates and fees they will charge. The report they get is different from what a regular creditor or lender gets, but it is still your credit information that they use.

Child Support Payments

Your credit report is one of the key pieces of financial information that can be used by the courts to determine what you will be paying in child support payments. Your past records will not so much come into effect but your current record will be a huge part of the final decision.

To Help Debt Collectors

Collection agencies are allowed to pull credit reports so they can determine if you really can pay the debts you owe.When you think about it, it makes sense on their end, it would be difficult to argue that you can’t give them the $700 they are asking for when you there is a credit card with $1,000 available balance and a bank account with $10,000 listed on your report.

Many people realize that their credit scores and credit report contain important personal information that they need to protect. It is important to know who else has access to your information and what they use if for when they get it. The cases addressed here are just some of the more common circumstances where you may find someone gaining access to your credit report and scores. The three credit bureaus may be the ones who pull your information and compile the reports and calculate the scores, but there are many other individuals and organizations that can get access to your information legally.

Amy Johnson is an active blogger who is fond of writing articles on credit monitoring and educating people to monitor their monthly credit report to prevent you to be a victim of credit fraud. Follow her on Twitter to know more on who can access your credit report.