Your credit report is something that tells anyone who looks at it how well you’re doing at paying off your bills on time and keeping up with your accounts. It’s something that can definitely cause you trouble in the long run because if it’s bad it can affect the way that you get credit. But just who can actually look at that credit report? Unfortunately, the list is pretty long and it’s going to mean problems for you in the long run when everyone on that list is looking at what you have to offer.
Potential Employers – Now your employer has some limitations on what they can look at on your credit report and what they can do about it. Your credit score is entirely off limits to them and they can’t make any decisions based on that score, but they can look at your history of payments and just how much debt you have to decide if they want to offer you employment. If you have a lot of debt it will turn them off because they know that you have to pay it off somehow and they don’t know how honest you’re going to be.
Bank/Credit Union – If your bank or credit union is going to be giving you a loan they can look at your credit score and credit report to decide if you’re a good investment. In fact, anyone who’s looking to give you credit or a loan can look at your report and your score to determine if they want to loan you anything or if you’re not likely to pay it back. Your history is going to count against you quite a bit because they’re going to assume that you’ll continue what you’ve been doing, not that you’ve changed.
Housing – If you’re looking to get a house they can look at your credit report as well. Now the people actually selling the house don’t care because they’re going to get the money from your financial backer, but that financial backer will care and they’ll decide to give you a mortgage or not based on your credit. Apartment complexes are allowed to look at your credit score as well and if your history shows that you’re not good at making payments they could refuse to rent you the space because they don’t know if they’re going to get paid in the end.
No matter where you go you’re going to run into people who can run your credit report and will as well. That’s because they know the credit report says a lot about your history. Unfortunately, even if you’ve started making some changes they don’t know if they can trust those changes and you may not be able to get the credit you need. Make sure you’re aware of that before you start applying for anything, it could end up a problem for you. If you’re looking for a car though, and you don’t have time to get your credit up, you can check out a loan application here and get approved even with bad credit.