Do you know who is checking your credit scores?

The Lawhead Team would like to share the latest One Cool Thing to let you know how your credit scores are being used.

credit scores

Who’s Checking Your Credit?

Consumers underestimate the impact of credit scores – and a significant number don’t even know that credit scores are used by non-creditors.

Only half of consumers know when lenders are required to inform borrowers of their use of credit scores:

  1. After a mortgage application
  2. When not receiving the best terms on a loan
  3. Whenever a consumer is denied a loan

Not all consumers know which companies look at credit scores:

Source: Consumer Federation of America