Which lenders access my credit report
Your credit report will probably be requested from a credit reporting body by a credit provider when you:
- Apply for a loan from a bank, credit union or finance company lender (e.g. a home loan, credit card, personal loan or an overdraft facility)
- Apply for a store card (e.g. when you buy a TV on interest free finance)
- Rent things like a TV, fridge or computer
- Apply for a car loan
- Buy a mobile phone on a mobile plan. But your credit report won’t be used if you’re on a prepaid plan
- Sign up for a phone (home, mobile or internet) or utility (water, gas or electricity) account
Different businesses will have different lending processes, so some might view your credit report as part of the application process, while others might not.
Lenders like banks, credit unions and finance companies, and phone, or utility providers will almost always use your credit report when you take out a loan or first sign-up with them. However, some smaller businesses may choose not to use your credit report when you borrow money or buy things on credit.
When you apply for a loan or sign up with a new business, it’s worth checking whether they’ll use your credit report. You should be told this at the time of making the application.
Your credit report can’t be used when you rent a house, apply for a job, or purchase or make a claim on general insurance or life insurance.
By law, your credit report can only be accessed by others in legally permitted circumstances. That is why, when you ask for your credit report, it will show you whenever someone else has accessed your credit report.