The Fair Credit Reporting Act (FCRA) outlines specifically who can see your credit
profile. Businesses must have a "legitimate business need," and a "permissible
purpose," as stated in the federal law to obtain your credit file. Otherwise,
only you, and only those who you give written permission, can access your
credit files. Your neighbors, friends, co-workers, and even your family members
cannot have access to your credit profile unless you authorize it.
Some examples of those who can access your credit files are:
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Credit grantors
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Collection agencies
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Insurance companies
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Employers
Any company that receives a copy of your credit profile will be listed under the "Inquiry" section of your report. An "inquiry" is a listing of the name of a credit grantor or authorized user who has accessed your credit file. Credit grantors post an inquiry before offering you a pre-approved credit card application. These are listed as "promotional" inquiries on your credit file because only your name and address were accessed, not your credit history information. They are NOT sent to credit grantors or businesses for reasons of credit reporting. They are listed for your informational purposes only.
The Fair Credit Reporting Act (FCRA) is the federal law regulating credit reporting
companies like Equifax, Experian, and TransUnion. It has been in effect since
1971 and undergoes periodic revisions by the Federal Trade Commission. This law
protects consumers' rights such as the right to review and contest information
in their credit profiles. It also specifically defines who can access the
information in a credit profile, and how you are notified of this activity.
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