How Your Credit Report and Credit Score are Used

Your credit report and your credit score are used by a variety of businesses to help them learn more about you. Anyone with a business need and your permission is allowed to see your credit report or credit score. In some cases, your permission isn’t even needed for someone to view your credit history.

When Your Permission Isn’t Needed to View Your Credit Report

Lenders and credit card companies partner with the credit bureaus to be able to send customers promotional offers. These companies don’t need your permission to view your credit report. You’ve already provided them with tacit permission to review your credit history by not submitting a request to be taken off their mailing lists. This request form is available from each of the three credit bureaus.

Prospective Landlords Can See Your Credit Report

Landlords are allowed to run credit reports and background checks on prospective tenants. Landlords use this information to decide if they want to rent to applicants. If a credit report has issues or problems, a landlord may still choose to rent to the applicant, but he or she is legally allowed to charge an additional fee or increased security deposit.

Hiring Companies and Insurance Companies Can See Credit Reports and Scores

Hiring companies and insurance companies can see your credit score or credit report. Hiring companies use the information contained in a credit report to get a big picture view of prospective employees. Insurance companies use information they see on a credit score or credit report to help determine rates and eligibility for insurance. Both types of businesses must request permission in writing before reviewing a credit report; this is usually part of a job application or an application for insurance.

Lenders and Creditors Can Review Credit Scores

Lenders and credit card companies can review credit scores and credit reports to determine credit worthiness when you’ve applied for a loan or a credit card. In addition, if you have open loans or credit card accounts, those lenders and creditors can also review your credit to monitor changes.

Experian Triple Advantage Allows You to Review Credit Report

See what others are seeing when they review your credit report with Experian Triple Advantage. Order a copy of your credit report and credit score online. Then, use customized tips provided by Experian Triple Advantage to improve your credit score.