Who can see my credit report?

A credit report can be generated by one of three reporting agencies: Equifax, Experian or Trans Union. When your or a business requests your report, the company generates it using information from its files. Because they are created on the spot, credit reports can provide information that is as current as possible.

You may be relieved to find out that most people cannot access your credit report without your permission. The three reporting agencies are each regulated by federal law. This law dictates who can access the credit report.

Generally speaking, any time you apply for credit (credit card, home mortgage, etc.,) the lender can request your credit report. This is because the lender needs to know as much about your financial history as possible in order to gauge whether you are likely to pay them back.

Certain other companies can also make successful credit report requests, the most common examples being insurance companies and employers.

Requests to see your credit report are referred to as inquiries within the industry. Any individual or organization that makes an inquiry will be listed in a special section of your credit report.

Obviously, one of the main reasons behind this special section is to keep you informed about who has been looking at your file. Another reason behind the list is to provide a rough gauge of your attempts to receive more credit for potential lenders. If you have made too many requests, lenders will become suspicious about your financial situation. Your credit score may even be negatively affected.