Question : Why are all companies allowed access to your credit report? What can be done to limit access?
In todays world it seems as long as you pose as a business you can access information on anyone you want. I know credit reporting agencies say that this doesn't affect your ratings, but it seems like it does. Any business can see your report and credit scores, but you can't see your own without paying. Why is that?
- asked by Larry T
All Answers:
Answer #1
The only companies that should have access to yourinformation are those that you have givenpermission to ( like applying for a card or aloan). Those inquires do cause you to lose points.The other types of companies that look are justgetting very vague and general information andthey do not get to see your personal information.They just get to verify your name and address andget told how many accounts you have in goodstanding. These types of checks do not cause youto lose points. One way to reduce the amount ofchecks like this is to join the " opt outprogram". You should be able to find moreinformation about it on line. In this program itremoves your name from several list that are soldto major companies that send you pre approvalletters. Best of luck.
- answered by Jennifer M
Answer #2
They are paying too....
- answered by redenz40
Answer #3
First, businesses don't have access to your creditfile unless you give them permission.Second,businesses pay to see your credit report; you geta copy for free every year.Third, credit bureausare in another business that screens pre-approvedoffers and mailing lists, without actually givingout your information. You can contact th bureausan opt out of these screenings.
- answered by Ted
Answer #4
Okay, note these 2 things:Soft Inquiry: This iswhen a company jumps to see your credit reportwhich DOESN'T harm your score at all.example: acompany does a soft inquiry when you get a creditcard packet in the mail saying you're"PRE-APPROVED"Hard Inquiry: This is when a companyjumps to see your credit on your approval. It doesslightly harm your score! If you have multipleswithin a 30 day period, they will take away asmall amount of your credit score.because...example: this is when you go to a bankand want a loan...they look at your credit scoreon your approval to see if you have the money topay for what you want to get a loan for. If youhave multiples of this example within a 30 dayperiod...lets say your bank shopping for the bestloan, they will take less score away from you.Hopeit helps!
- answered by Jacobzcool1
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