Tue, 27 Feb 2007

Who Checks Your Credit Report?

Eye opening. IANAL, but I wonder if the Fair Credit Reporting Act comes into play at any point: who can legally check your credit, and for what reasons?

It's conventional wisdom: You build credit to get more credit. Your credit history determines whether you can even get that credit card, mortgage, or car or small-business loan. Then it directly affects how much you'll be paying in interest for years to come. What conventional wisdom often ignores is that even nonborrowers need to keep track of their credit records. Plenty of financial players besides lenders care about your past.

(link) [U.S. News & World Report]

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