When Will My Credit Score Be Pulled?


by Jacob Joseph - Date: 2006-12-20 - Word Count: 324 Share This!

Who looks at my credit report file? It used to be that creditors were the only group accessing your credit report. However, today is very different. There has been a tremendous increase in the amount of companies, agencies and places of employment doing credit inquiries for determining your level of responsibility. It is very important to note that your permission must be given before anyone can access your credit. No one can run an inquiry without your consent! It is against the law!

Below are some common scenarios when you may be asked for permission to view your credit file.

-- Renting an apartment? If you have decent credit, rental agencies and landlords will conclude that you will be a responsible tenant.

-- In the market for a new job? Employers will view a good credit history as a sign of dependability.

-- When you apply for any type of loan or credit, your credit is going to be checked. Whether or not you are approved is going to depend on your credit. Also, the rates, terms and loan amounts you receive once approved will also depend on your credit rating.

-- Seeking a new auto or home insurance policy? It is very common for all insurance carriers to examine your credit report when determining whether or not they should grant you a policy and what kind of rates to assign.

-- 'Soft credit' checks are performed very frequently. This means that companies will check your check your credit profile to determine if you match a specific standard or range of credit score. This is usually done by companies that are issuing pre-approvals for credit cards, personal loans and car loans. 'Soft credit' checks have no impact on your credit score at all. You can contact all of the credit reporting agencies and let them know that you do not want any 'soft checks' performed. Upon your notification, they will not allow any more of these types of credit inquiries.


Related Tags: credit score, fico, credit reports, my credit score

Jacob Joseph is a financial expert for http://www.starloanservices.com. At Star Loan Services you can get a free copy of your credit report.

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