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Who can access my credit report w/out my permission??

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bd38

Guest
What is the name of your state? Oregon

I've had on ongoing dispute with Direct Merchants Bank. In reply to my last post here, someone suggested that if DMB hadn't closed my account when they did, they surely would have once they found out about a judgement we recently had (lost a landlord-tenant cicil suit--on appeal)

What gives the credit card issuer the right to access my credit report without my express permission? If I don't ask for a credit linit increase, or any other change in my account that would require a credit report, can they view my credit report whenever they want??? How??

BD
 


JETX

Senior Member
From the FCRA (Fair Credit Reporting Act):
"§ 604. Permissible purposes of consumer reports [15 U.S.C. § 1681b]
(a) In general. Subject to subsection (c), any consumer reporting agency may furnish a consumer report under the following circumstances and no other:
(1) In response to the order of a court having jurisdiction to issue such an order, or a subpoena issued in connection with proceedings before a Federal grand jury.
(2) In accordance with the written instructions of the consumer to whom it relates.
(3) To a person which it has reason to believe
(A) intends to use the information in connection with a credit transaction involving the consumer on whom the information is to be furnished and involving the extension of credit to, or review or collection of an account of, the consumer; or
(B) intends to use the information for employment purposes; or
(C) intends to use the information in connection with the underwriting of insurance involving the consumer; or
(D) intends to use the information in connection with a determination of the consumer's eligibility for a license or other benefit granted by a governmental instrumentality required by law to consider an applicant's financial responsibility or status; or
(E) intends to use the information, as a potential investor or servicer, or current insurer, in connection with a valuation of, or an assessment of the credit or prepayment risks associated with, an existing credit obligation; or
(F) otherwise has a legitimate business need for the information
(i) in connection with a business transaction that is initiated by the consumer; or
(ii) to review an account to determine whether the consumer continues to meet the terms of the account.
(4) In response to a request by the head of a State or local child support enforcement agency (or a State or local government official authorized by the head of such an agency), if the person making the request certifies to the consumer reporting agency that
(A) the consumer report is needed for the purpose of establishing an individual's capacity to make child support payments or determining the appropriate level of such payments;
(B) the paternity of the consumer for the child to which the obligation relates has been established or acknowledged by the consumer in accordance with State laws under which the obligation arises (if required by those laws);
(C) the person has provided at least 10 days' prior notice to the consumer whose report is requested, by certified or registered mail to the last known address of the consumer, that the report will be requested; and
(D) the consumer report will be kept confidential, will be used solely for a purpose described in subparagraph (A), and will not be used in connection with any other civil, administrative, or criminal proceeding, or for any other purpose.
(5) To an agency administering a State plan under Section 454 of the Social Security Act (42 U.S.C. § 654) for use to set an initial or modified child support award. "
Source: http://www.ftc.gov/os/statutes/fcra.htm#604

As you can see, a current creditor has some pretty broad rights to requesting and reviewing your credit report.... even after granting the loan.

You might aslo review:
http://www.ftc.gov/bcp/conline/pubs/credit/crdright.htm
http://www.ftc.gov/bcp/conline/edcams/fcra/summary.htm
 

smorr

Member
credit reports

Hate to tell ya kid - Direct Merchants Bank and any other credit company that you have an open account with can cancel you at any time for any viable reason provided they are doing so under the law. They have the right to check your credit report at any time for good reason of course, to either provide you with an offer of increased credit or if your account is up for renewal, some places will run your report to see if you're still creditworthy. If you're not, you'll be notified, believe me. And if you aren't you'll know next time you go to use your card - the May Companies (Filene's Stores) is notorious for that. I know - it happened to me during Christmas while I was at the store with a supposed good credit card that had no balance on it when I tried to use it. It didn't go through and I later found out they just cancelled me because they ran my account after the card was paid in full and found my credit not to be up to their "standards". Case closed.

All the information that you received below from Halket should be or should have been on an insert that you received with the card when you first opened the account. Most all credit companies send you this. I always try to keep my initial "welcome" package obtained when I get a card - this has all the info I need when there's a dispute.

Good luck.
 

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