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What Happens To My Record When I Pulled A Copy Of It Or When Someone Else Does?

By Derek Brown
Published: Tuesday, November 30th, 2010

One of the serious problems that maybe encountered by credit card holders is identity theft. Once a thief had an access to any pertinent information about you the possibility of him maxing out your credit cards, making huge purchases under your name and leaving you bankruptcy records can be expected. The hardest part is that any or all of these can happen without your knowledge for weeks or even months. One of the best ways on how to guard and keep tract of your credit transactions is by reviewing your own credit records. If you are able to see any anomalous transactions you sure you did not make reporting it immediately to the authority can at least lessen your burden.

To be able to follow this credit report advice of reviewing your credit record thoroughly you will need to have a copy of your own credit file. What will happen if you request for your own credit record? Will this impact on your credit history in a good way or in a bad way?

Getting your own copy of your credit report will post you no problem at all. Being able to view your own file is part of the consumer disclosure policy of the credit bureaus thus it will leave no negative effects on your credit report. The only time pulling your credit report becomes a negative thing for your credit score is when it is done by several creditors or lenders. Once you applied for several credit card companies or loans for instance these providers will all request for an access to your credit history from the three credit bureaus. Credit inquiries are all recorded by the credit bureaus since they are required to do so.

All these credit inquiries done in a short span of time can ruin your credit record simply because according to research people who tend to apply for several creditors are more risky than those who do not. Excessive shopping for credit cards can really lower your credit score for it may imply that you are an impulsive, desperate consumer. If this is the case, how about comparison shopping? Well, nowadays there exist some scoring models that can identify a certain rate of shopping that is geared towards finding the best interest rate and differentiate it from the rate of shopping that is aimed to open several accounts in a short period of time.

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