Your current lenders and creditors: your current lenders and creditors may check your credit report periodically in order to update and maintain your account. Current lenders and creditors can check your credit file even after you place a security freeze on it. Also, when current lenders check the credit report it results in a soft enquiry being made in to your credit report which means that it does not have an impact on your credit score. Only enquires made by new lenders as a result of a credit application made by you voluntarily results in a hard enquiry. Hard enquiries make up 10% of the total credit score calculation.
· Potential Lenders
Potential lenders can access your credit report when you make an application to them for credit. As a result, an application by you for any kind of credit such as a credit card, home loan, automobile loan etc. these kind of enquiries by the lender as a result of a credit application have an impact on your credit score.
· Potential Landlords and Employers
Potential landlords and employers can both check your credit report before approving you for housing rental and confirming your employment respectively but only if you give them permission to do so.
· Insurance Companies
Insurance companies also check the credit report in order to measure the financial ability of a person. They also use the information present in the credit report to secede the interest rates that qualify for. If there is negative information present on your credit report, you may get higher rates of interest on your insurance policy or may be denied insurance all together.
· Debt Collection Agencies
Debt collection agencies can view your credit report to gain access to information that will help them recover a debt from you such as your address and employer information. They may also view your other accounts on the credit report to get an idea of your financial soundness and whether you are capable of repaying your debt.