Requests for My Credit History

Hi Heather

Welcome to the forums. Some companies request for the credit history of an individual to review his credit file. Federal and provincial laws are very specific as to who can review your credit file and for what purpose. They can only request for your credit file after you have given them your consent and they should have a legitimate business reason and a permissible purpose as stated in government regulations,

Credit history of an individual is also requested when applying for a loan or a credit card. An application form is filled where a written consent is given from the side of the consumer to the credit grantor that his credit file can be checked as long as the account is open while filling the loan application.

Whenever anybody requests for your credit history, the request is noted in your credit file as an inquiry. You will be able to see the list of all those people who have made request for your credit file.

The credit reporting agencies provide a copy of your credit file to those companies who want to gather information about your credit, collection of a debt, housing rental, an application for employment or for insurance purposes. Based on the data in your credit file, they can conclude individually and assess your financial standing.

The credit report is one of the prestigious financial documents of an individual in his entire lifetime. It is therefore very important to keep a good credit history to acquire credit in the future.

Regards
Roxette