Who can use my credit report and score?

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Who can use my credit report and score?

Who can use my credit report

Who can use my credit report and score?

There are regulations in place to protect your personal information, including your credit report.


Usually, your credit report can only be used to:
• lend money or extend credit to you
• collect a debt you owe
• consider you for rental housing or for en employment
• provide you with insurance  *some provinces have restrictions*
• meet a direct business need.
Lenders, employers and landlords can only pull your credit report when you give your consent or, in some provinces (including Nova Scotia, Ontario, Quebec, Prince Edward Island and Saskatchewan), after they tell you they will pull your report.
Usually, when you sign an application for credit, you allow the lender to access your credit report. Your consent lets the lender use your credit report when you first apply and afterward as long as your account is still open.
In many cases, your consent also lets the lender share information about you with the credit bureaus if your application is approved.
Some provincial laws also permit judges and police, to see parts of your report without your consent.
In some provinces, your credit score cannot be used to decide whether you qualify for insurance or to determine how much you will be charged for.

It’s mandatory in some provinces that lenders have to tell you if your credit report led to the rejection for a benefit or service, or if you have to pay more for it.


Any other question? Leave a comment below and we’ll get back to you 🙂

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