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"Permissible Purposes" to Provide
Credit Report
--------------------------------------------------------------- Summary
The Fair Credit Reporting
Act (FCRA) defines the "permissible
purposes" for which a consumer's credit
report can be provided to others.
Details on What is Permissible
The following purposes are allowable to supply
a credit report:
Credit granting considerations
Review/Collection of an account
Employment considerations
Insurance underwriting
Application for a Government license
With your written permission
Response to a court order
FBI investigation
Under
United States Code, Title 18, anyone who knowingly
and willfully obtains a credit report under
false pretenses may be fined and/or imprisoned
for up to two years.
In
Brief
Credit bureaus track
credit histories for consumers
Nearly all major creditors
provide this credit history information to the
bureaus
It is helpful to know
when it is allowable to have your credit report
pulled
