Who is authorized to check my credit report?

December 18, 2006 | Credit | 5 comments

It is a well known fact that too many inquiries on your credit report will cause the score to deteriorate. This is because lenders view each inquiry as potential new credit established. As a result, debt - income ratios become an unknown until the inquiries result in a new account.

There are 2 types of inquiries that will show on your credit report.

When you apply for a mortgage, auto loan or other credit, you authorize the lender to request a copy of your credit report. These types of inquiries, prompted by your own actions, appear on your credit report and are included in your?credit score. Any of these sources requires your authorization in writing to be allowed to run your credit.

Your own credit report requests, credit inquiries by businesses to offer you goods or services, or inquiries made by businesses with whom you already have a credit account do not count toward your?credit score. Credit checks by prospective employers also do not count. These types of inquiries may appear on your credit report, but they are not included in your?credit score. Authorization is not required for these creditors to access your credit profile. The credit bureaus sell credit information to any bidder. Many companies base their marketing on demographics such as area code, zip code etc.

The Fair Credit Reporting Act entitles you to request the bureaus to stop sending you credit solicitations. The number to call is 1-888-567-8688 (24 hrs). You will need your address for the last 2 years, and your social security number. This 1 source will handle all 3 bureaus.

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Reader Comments

Jorge M. Vega on February 24, 2007 at 8:00 pm

It doesn’t always happen that, while surfing the net, you come upon useful, practical advice. But, in this case, it did happen! Thanks so much for this discussion on the different variables that can adversely affect my credit score; it will really come in handy in the next few weeks when I go shopping for a new car.

It’s obvious, you can never learn too much about protecting your credit rating.

tom.voli on February 25, 2007 at 8:36 am

Thanks again Jorge!

darren on May 22, 2007 at 5:20 pm

your comment you made on the top page about unauthorized inquires not affecting your score is incorrect . I m a broker and I pull alot of credit and there are always comment on peoples credit stating “too many inquires ” even when the client knows nothing about them …….and it stems from the pulls we know nothing about . It pulls down your score !

Tom Voli on May 22, 2007 at 5:40 pm

While I am sure there are cases that exists where borrowers have scores that are affected by unauthorized credit inquiries, according to scoring data what you indicate is not accurate. If a borrower’s score is affected by unauthorized inquiries they have the right to have them removed. The burden of proof will fall on the agency who pulled the report. I have found that many borrowers aren’t aware of every time they or their spouse approves a credit pull. Credit inquiries from merchants who use that to offer credit does not affect your scores.

Bruce on April 30, 2009 at 1:10 pm

“..inquiries made by businesses with whom you already have a credit account do not count toward your credit score. … Authorization is not required for these creditors to access your credit profile.”

Thanks. That’s my question answered. I guess I’ll stop being mad now.