CREDIT REPORT USES

Credit report uses are many and varied. Your credit report can be accessed by anyone who has to deal with you for any financial transaction or matter. All such persons and agencies are qualified to obtain and view your credit report. Since the interest rates are determined based on these reports, it makes sense to get hold of a free copy and review it for any bad credit history or misleading statements.

FINANCIAL INSTITUTIONS

These include credit card provides, insurance companies, car loan finance dealers, house mortgage dealers, banks and other credit services providers. The most valuable item here is the credit score that shows your credit status as a whole. A high score can get a few points knocked out of the interest rate, whereas a low score can even result in denial of service. If that happens, you can apply for a free or discounted copy of the credit report from the bureau whose score or report was used to deny the service.

LAND LORDS

A landlord is entitle to view your credit report, although with your express consent. This can be done online with certain providers.

EMPLOYERS

Employers can pull out your report with your permission to confirm your personal information, and in some cases check your financial status if your position requires it.

GOVERNMENT AGENCIES

Government agencies routinely check credit reports of employees as a shaky financial life can put an employee under pressure to leak information for financial gain.

OTHERS

A state or local child support enforcement agency may need to review credit reports. Anyone who has to deal with a customer on credit basis can access the credit report. These inquiries go into the report as hard or soft inquiries. Pre-approved offers for services are generated by the three bureaus who lend this information to outsiders. If you do not wish to receive such offers, contact the bureau and request for stopping such offers coming your way.