Who Can Access My Credit Report?

- ADVERTISEMENT -

Who Can Access My Credit Report? If you’re like me, you might not have a flawless credit report and are nervous about who can access that kind of private, financial information. It’s definitely somewhat unnerving to have all of your spending/financial history in a somewhat (well, arguably) arbitrary form: the credit report. How can a number reflect you as a person when life throws so many curveballs your way?

A credit report doesn’t give details to the difficulties life can throw at you and cause debt — sudden job loss, family tragedy, etc. When my grandmother was dying, my mother had to charge thousands of dollars to her credit card that she couldn’t pay for transportation, medical bills, and other expenses. It ruined her credit.

I know I’m kind of rambling right now and many people would argue the importance of credit ratings. I realize that as a society we need a system and this one seems to somewhat work. Fair enough. Too bad that no matter how hard you work at it, getting a “perfect” credit score is damn near impossible.

Who Can Access My Credit Report?

Now that you know my opinion on credit reports, let’s into the nitty-gritty of who can access them. The following is list I copied from CreditReport.com. You might be shocked to learn who can get this personal information about you:

Lenders
Insurance companies
Landlords seeking a credit check for renters
Credit card companies
Organizations considering your application for a government license or benefit
State or local child support enforcement agencies
Government agencies
Other organizations you’ve initiated business with
Employers in the hiring process (with the potential employee’s consent)**

I’ve put “employers” in italics because I want to talk about this somewhat controversial reality a bit more in depth.You might be surprised to learn that many companies perform credit checks on job applicants in the same manner they would with criminal background checks. Bad credit, it turns out, can prevent you from landing your dream job.

A company that performs a credit check on a potential hire is looking for serious problems in your financial past. Repossessions, collections, high credit card balances– they want to see if you have a history of financial responsibility. For some it’s a reflection of how you deal with personal business, and whether or not you’re an organized person who makes themselves accountable for their own actions.

ADVERTISMENT: CONTENT CONTINUED BELOW

Some employers feel that the worse an individual’s credit history is, the more likely they are commit fraud and steal. Back in 2006 it was recorded that 43% of companies performed credit checks on potential hires– a statistic up 25% from 1998.

I personally feel as though an individual’s credit history should not factor into whether or not they’re hired. It’s their personal finances and if they’re qualified for the position then they’re qualified– regardless of whether or not they’re on time with their credit card bills.

I’m not alone in thinking that checking the credit of potential hires is unfair. Representative Cohen from Tennessee thought so when he introduced a bill outlawing it two years ago. States like Hawaii and Washington had already done so.

If you’re worried about that your credit may affect you landing a job, know that at the end of the day your resume and references are number one. If you’re an excellent candidate, you will get noticed. What’s more, when performing a background check, employers are more concerned with whether or not you have a criminal history than bad credit.