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 loan

Not all consumers know which companies look at credit scores:

  • 53% know that electric utilities may use credit scores
  • 66% know that credit scores may be used by home insurers
  • 68% are aware that cell phone companies look at credit scores
  • 70% know that landlords check credit scores

Source: Consumer Federation of America

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FocalPoint Realty
Phone (858) 349-3700
info@eFocalPointRealty.com
http://www.eFocalPointRealty.com