Permissible Permission And Credit Reporting Rules

To obtain a copy of your credit report, a financial institution or other party must have permissible permission. This keeps just anyone from taking a look at what is in your report. It also helps to prevent identity theft. When applying for any type of credit, carefully review any request for your credit history. Make sure that it clearly identifies who has permission to review your credit report. Also, make sure there is an end date to keep someone from pulling your credit more often than required. Often a financial institution will notify you that the terms of them granting you credit includes the ability to pull your credit report as needed. This is normal and the type of report they pull for this purpose just gives them the opportunity to keep an eye on your overall credit picture.