Credit
Report Access
The
Fair Credit Reporting Act (FCRA) outlines specifically who can see
your credit profile. Businesses must have a "legitimate business
need," and a "permissible purpose," as stated in the federal law
to obtain your credit file. Otherwise, only you, and only those
who you give written permission, can access your credit files. Your
neighbors, friends, co-workers, and even your family members cannot
have access to your credit profile unless you authorize it. Some
examples of those who can access your credit files are:
- Credit
grantors
- Collection
agencies
- Insurance
companies
- Employers
Any company that
receives a copy of your credit profile will be listed under the
"Inquiry" section of your report.
The
Fair Credit Reporting Act (FCRA) is the federal law regulating credit
reporting companies like Equifax, Experian, and Trans Union. It
has been in effect since 1971. A revised FCRA became effective October
1, 1997. This law protects consumers' rights, such as the right
to review and contest information in their credit profiles. It also
specifically defines who can access the information in a credit
profile, and how you are notified of this activity.
