topic Re: Credit reporting information for employment purposes in Understanding FICO® Scoring

Credit reporting information for employment purposes

sjt — Wed, 21 Aug 2013 17:39:17 GMT

I read that a credit report can be obtained that contains all information, including adverse information regardless of the statue of limitations, for potential employment postitions, loans over a certain amount, etc. My question is 1) why an individual obtain a that type of report for themselves and 2) what is the purpose of getting a report that contains all credit information. It seems like TMI.

Re: Credit reporting information for employment purposes

Shogun — Wed, 21 Aug 2013 17:43:53 GMT

I believe you are confusing SOL with CRTP. The CRTP sets how long the TL can be viewed by a simple pull of your CR. There are however a couple of instances where even the information that was normally shielded by the CRTP can be viewed.

1. Applying for a job in excess of $75K

2. Applying for a mortgage or other loan in excess of $150K.

These are the exceptions that have been put forth.

They are dealing with larger amounts of money, so it was decided that it would be prudent for those to be viewed.

Re: Credit reporting information for employment purposes

sjt — Wed, 21 Aug 2013 17:50:48 GMT

@Shogun wrote:
I believe you are confusing SOL with CRTP. The CRTP sets how long the TL can be viewed by a simple pull of your CR. There are however a couple of instances where even the information that was normally shielded by the CRTP can be viewed.

1. Applying for a job in excess of $75K
2. Applying for a mortgage or other loan in excess of $150K.

These are the exceptions that have been put forth.

They are dealing with larger amounts of money, so it was decided that it would be prudent for those to be viewed.

Thanks for the reply!

I wonder how they come up with these amounts and I just dont understand the logic of obtaining information that we consumers cant for ourselves.

Re: Credit reporting information for employment purposes

Shogun — Wed, 21 Aug 2013 17:52:46 GMT

Actually, there is a way to get your full report. I just don't right off hand rembember how to do it. But you can pay a fee to the CRA and they will provide it to you.

Re: Credit reporting information for employment purposes

Anonymous — Wed, 21 Aug 2013 18:43:01 GMT

Section 609 of the FCRA states you can. I beleive the rate is $11.00. I would only ask for specific information otherwise your report could be hundreds of pages.