Our debt counselors know that there’s a lot of mystery surrounding credit reports. Who can pull my credit report? What does it show? How can I access it? As a reflection of your financial decisions, it’s crucial that consumers understand credit reports. Learn more about who can pull your credit report along with instructions for how you can pull it too.
What is a Credit Report?
A credit report is a history of everything you’re doing with your credit now and what you’ve done with it in the past. Organized into a list of information from lenders, your report includes records of payment history, payment totals and payment frequency. Your lenders send both positive and negative information about your accounts to the three credit reporting agencies (Equifax, Experian, and TransUnion). Then, the agencies compile the data into a report.
The information that your creditors decide to share can impact your credit report. For example, if you are late on one payment, but generally pay on time, it’s possible that your creditor will not share the late payment. On the other hand, if you have accumulated a lot of consumer debt, any related negative information will be included in your report and will affect your credit score.
In short, your relationship with credit reflects your reliability. Your ability to get credit, loans, housing, and more are all impacted by your credit report and score.
Who Can Check It?
Now that we’re clear on what a credit report is, let’s see who can access it. Essentially, any possible lender or entity who is financially assisting you can access your report. This includes but is not limited to:
- Mortgage lenders
- Utility companies
- Student loan lenders
- Insurance companies
- Government agencies
- Collection agencies
- Judgment creditors
- Entities that have a court order
If you want to look at your report too, it’s pretty easy to access. It’s important for consumers to check their report and understand any and all information presented. This way, you can quickly catch any inaccurate or potentially fraudulent activity.
If you’re struggling to pay off debt, ACCC can help. Schedule a free credit counseling session with us today.