Home › Your Rights › Credit Reporting

Credit Reporting - Frequently Asked Questions

  1. What is a credit score?
    A credit score is a complex mathematical model that evaluates many types of information in a credit file. A credit score is used by a lender to help determine whether a person qualifies for a particular credit card, loan, or service. Most credit scores estimate the risk a company incurs by lending a person money or providing them with a service –– specifically, the likelihood that the person will make payments on time in the next two to three years. Generally, the higher the score, the less risk the person represents.  Consumers must purchase their credit scores by contacting the credit reporting agencies directly.
  2. How often can I check my credit report and credit score?
    If you are looking to secure credit for a mortgage, car loan or personal loan, it is very important for you to get copies of your credit report and check your credit score before you apply for the new credit.  When you request your own credit report, it is considered a "soft inquiry." Your credit score will not be affected negatively if you request a copy of your own report.
    Always check your credit reports and credit scores BEFORE YOU APPLY FOR NEW CREDIT.
  3. Who can access my credit report?
    The Fair Credit Reporting Act (FCRA) states that a company must have a legitimate reason to view your credit report. Any organization or individual who obtains a copy of your credit report under false pretenses can be sued and be subject to criminal prosecution.
    The following list of organizations may have legitimate purposes to access your credit report depending on why they need it and how they handle it when received.
    • Insurance companies (at underwriting, not claims)
    • Landlords seeking a credit check for renters
    • Credit card companies
    • Companies where you are seeking employment (only with full disclosure and your written consent)
    • Organizations considering your application for a government license or benefit (if the agency is required to consider your financial status)
    • State or local child support enforcement agencies
    • Government agencies (usually can only look at your name, address, former addresses, and current and former employers)
    • Other organizations you've initiated business with

    Any time your credit report is viewed by one of the above organizations, a "hard inquiry" gets recorded on your credit report.  Hard credit report inquiries may lower your credit score.
    Also keep in mind that potential employers see a different version of your credit report than lenders do when they do a credit history check. Potential employers conducting a credit check for employment are only concerned with how you manage and repay debt; in other words, your level of financial responsibility. Therefore they don't need to see as many details on your credit report.

  4. Is a ChoicePoint report the same as a credit report?
    ChoicePoint is a company that collects data on you like the credit bureaus.  However, the information they collect is broader.  They collect information regarding insurance claims for your car or home.  They do pre-employment background checks.  They do tenant screening reports and criminal record searches plus much more.  ChoicePoint encourages consumers to review on a regular basis, at least once per year, information about them that is stored with consumer reporting agencies, credit reporting agencies, in county courthouse and other government records, etc. Doing so enables consumers to detect inaccuracies that might result in the denial of financial or other benefits, or that might indicate the presence of fraud or other misuse of their information.  Just as you would order your credit reports once a year, you should also request your "Choice Point Full File Disclosure." These reports are available at no cost once a year.  The information in the report can affect whether or not you get hired for a job, how much you pay in homeowner’s and car insurance, and whether you are able to rent an apartment. 

    Choicepoint has been sued by consumers in a number of recent class actions.  If you feel you have been wronged by Choicepoint or a similar background check product, CONTACT US.

    To request your FREE ChoicePoint Full File Disclosure Form: www.choicepoint.com

  5. How can I get my name removed from mailing lists?
    To remove your name from mailing lists, telemarketing lists, telephone solicitation lists, coupon
    Solicitation lists or Data Compilation lists, consult our Resources Page for specific addresses, phone numbers and websites to file your request.