How To Check Someone’s Credit Scores

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Checking credit scores is an important part of financial responsibility. Whether you’re a possible employer or landlord, loan representative, or individual, there are several advantages to reviewing credit reports and scores. A credit report and score may be a good indicator of professional and private responsibility.

Requesting a Credit Report for somebody Else

Obtain written permission. Individuals and businesses must obtain written permission from the person whose credit they’re seeking. Additionally, to written permission, the person must also give his Social Security number and current address. Obtaining a credit report without the person’s permission is against the law. It is often punishable by a hefty fine or maybe jail time.

  • The Society for Human Resource Management (SHRM) provides sample forms for obtaining permission to try to a background check and acquire a credit line report for employment purposes.
  • E-Renter provides free forms for landlords, including a Consumer Reports Disclosure, which the renter must check in order to offer the owner permission to try to a background check and acquire a credit report.

Reading and Analyzing Someone’s Credit Report

Now the categories of data. Each credit reporting agency features a unique format for its reports. However, all of them report an equivalent category of data. These categories include identifying information, information about credit accounts and credit inquiries, public record and collections items, satisfactory accounts and negative items.

Knowing if You’re Eligible to see Someone’s Credit Scores

Understand the Fair Credit Reporting Act (FCRA). The FCRA may be a federal law that governs how credit reporting agencies manage your credit information. Its goal is to guard individuals’ privacy and identity. It also protects your right to access and proper any inaccuracies in your credit report. Finally, it specifies who may or might not obtain a credit report on somebody else.

  • Under the FCRA, you’ll obtain others’ credit reports as long as you would like it to qualify them for employment, insurance, government benefits or tenancy. Also, having power of attorney makes it legal for you to look at that person’s credit report.

Check on the finances of aging parents

Senior citizens are often targets of fraud. Search for unusually high balances on credit cards or lines of credit that they didn’t sign. Thieves sometimes convince the elderly to cosign on loans. When the loan doesn’t get paid, the cosigner becomes liable for the debt, and this will negatively affect a credit score. Also, if an elderly person is affected by dementia, he may randomly apply for credit or use credit irresponsibly.

  • You’ll need power of attorney or a court-appointed guardianship to get a parent’s credit report.

Highlights

Credit reports from the three nationwide credit bureaus don’t usually contain credit scores

You’ll be ready to get a credit score from your Mastercard company, financial organization or loan statement

You’ll also use a credit score service or free credit scoring site

  • Many people think if you check your credit reports from the three nationwide credit bureaus, you’ll see credit scores also. But that’s not the case: credit reports from the three nationwide credit bureaus don’t usually contain credit scores. Before we mention where you’ll get credit scores, there are a couple of things to understand about credit scores, themselves.
  • One of the primary things to understand is that you simply don’t have just one credit score. Credit scores are designed to represent your credit risk, or the likelihood you’ll pay your bills on time. Credit scores are calculated supported a way using the content of your credit reports.
How To Check Someone’s Credit Scores

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