If you've ever been turned down for a credit card, auto or student loan — or maybe your application was accepted but you didn't get the best interest rate — and wanted to see a copy of the actual credit score used in the lender's decision-making process, you were probably out of luck. But starting July 21 lenders will be required to show you the score.
The new regulation applies to decisions made using credit scores that could be used to underwrite a loan or line of credit. So in addition to the above-mentioned situations, the NY Times says this would include a landlord requiring several months advance rent after reviewing your FICO score, but it would not include utility companies that use their own scoring systems to decide whether or not to require security deposits from customers.
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