Dec
28
Does the new credit card law will prevent from credit company’s viewing our finances via credit reports?
Filed Under Credit
Grad asked:
This is about the poacheers who you have not given permission to view the report.
IRVIN
This is about the poacheers who you have not given permission to view the report.
IRVIN
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4 Responses to “Does the new credit card law will prevent from credit company’s viewing our finances via credit reports?”
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Hello,
No, the new law does not prevent this. The law is mainly around interest rates and fees charged
No, it does not.
No…. why would it?
If you apply for a credit card they have the right to check your credit.
Because when you filled out the application you gave them permission to do so.
The new laws will make it harder for certain people to get approved for credit cards. (The ones that really don’t need one because they don’t have an income, are too young, in school, etc. etc.)
If you are asking will the law prevent a credit card company that you have a card with already peeking at your credit report to see if you either have missed a payment elsewhere etc…so that they can spike your rates, the answer is YES.
I don’t think the others understood the question. Of course, if you are applying for a credit card, they have access to your reports, that won’t change.!!