Who Can See Your Credit Report?
Federal and provincial laws are very specific regarding who can review your
credit report and for what purpose. A company or individual may only obtain a copy of your
credit report with your consent or after informing you that they will be reviewing your report. Additionally, an individual or company must have a legitimate business reason and a permissible purpose, as stated in government regulations, to obtain your
credit report.
When you apply for a loan or credit card you are usually asked to complete and sign an application form. An application normally includes written consent giving permission to the credit grantor to check your
credit report when you first apply and throughout the life of the account. In addition to your name, an application often asks for your date of birth, your current address and a previous address if you've recently moved - information that helps to locate your credit report at a credit reporting agency.
Each time a member of the credit reporting agency requests your report, the request is noted on your report as an inquiry and kept for 3 years. You can therefore see a record of who has requested your credit report and when.
A credit reporting agency may only provide a copy of your report when the request relates to the extension of credit, collection of a debt, housing rental or an application for employment or insurance purposes. Since your credit report contains only factual information, it is important to remember that each of the companies requesting your
credit report will interpret those facts in its own way to arrive at a decision.
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