Credit Report Solutions FAQs
- Can anyone get a copy of my report?
- Do I have a right to know what's in my report?
- Can my employer get my report?
- Am I entitled to a free credit report under state law?
- What kind of information do credit bureaus collect, and how long does it remain on my report?
- What is a credit report?
- How often should I check my credit report?
- What information is not in a credit report?
1. Can anyone get a copy of my report?
No. Only people with a legitimate business need, for example, a company is allowed to get your report if you apply for credit, insurance, employment, or to rent an apartment.
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2. Do I have a right to know what's in my report?
Yes, if you ask for it. The credit reporting agency must tell you everything in your report, including medical information, and in most cases, the sources of the information. The credit reporting agency also must give you a list of everyone who has requested your report within the past year -- two years for employment related requests.
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3. Can my employer get my report?
Only if you say it's okay. A credit reporting agency may not supply information about you to your employer, or to a prospective employer, without your consent.
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4. Am I entitled to a free credit report under state law?
In addition to consumers who are eligible for a free credit file disclosure through the Annual Credit Report Request Service; consumers in some states are eligible for a free credit file disclosure under state law. The following states have laws that make free credit reports available to consumers: Colorado, Georgia, Maine, Maryland, Massachusetts, New Jersey and Vermont.
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5. What kind of information do credit bureaus collect, and how long does it remain on my report?
Credit bureaus gather information supplied by your creditors. This includes how much credit you have available, whether you've had any 30- or 60-day late payments, and whether any accounts have been referred to a collection agency. Your credit report may also contain information that's part of the public record, including bankruptcies, foreclosures, liens and judgments against you. Bankruptcies remain on your credit report for ten years. Other negative information is eliminated after seven years.
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6. What is a credit report?
A consumer credit report is factual record of an individual's credit payment history. It is rather like a snapshot because it reflects information that is current as of that date, but is subject to change. Credit reports are provided to credit lenders for a purpose permitted by law. The main purpose of a credit report is to help a lender make a decision quickly and objectively about extending credit to an individual.
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7. How often should I check my credit report?
Your credit history plays a major role when you apply for any type of credit or loan, such as a credit card, auto loan, mortgage, employment screening, utilities deposits and insurance. It is a good idea to know what is included in your credit history before applying for credit or a loan. Creditors and lenders use your credit history to determine if you are a credit risk. The most important thing you can do to demonstrate you are a good credit risk is to pay your bills on time.
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8. What information is not in a credit report?
Your credit report does not contain - data about race, religious preference, medical history, personal lifestyle, political preference, friends, criminal record or any other information unrelated to credit.
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