How to Check Someone's Credit Score

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Checking someone's credit score is done by businesspersons about to grant credit to that person, and it requires his or her social security number, address and work place. Check a potential borrower's credit score to determine interest rates and premiums with advice from a registered financial consultant in this free video on money management.

Part of the Video Series: Money Management & Credit
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Video Transcript

Financial advisor, Patrick Munro, talking about how to check someone's credit score. The only reason you'd want to check someone's credit score is if you are a businessperson about to grant credit to a person in your business. In order to check their credit score you need to have their social security number and a bit of information about where they live, where they work. This will identify them as really that individual. Then, hopefully, you have subscribed to a credit reporting agency that you will give that information to, and in a short period, as short as an hour, they will come back to you with a real time report about the credit worthiness of this individual. This is information that you must keep secure. It's your responsibility as a businessperson to do that. But, if the credit score comes in you'll establish your own benchmarks about your comfortability with that client. If the score is a little bit weak, but you've had an interview with the client, and you still want them as a client you may charge them a little more as a potential risk premium for them going forward. This is Patrick Munro, talking about how to check someone's credit.

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