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PEER Background Credit Check

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PEER Background credit check includes the following verified information:

  • Credit History
  • Previous Employers
  • Previous Addresses

A background credit check will reveal several bits of information: the applicant's financial history, previous employers, and past addresses. This important information can be verified against the information provided by the applicant. USA-FACT processes a background credit check immediately and those reports are returned to you within 2-3 minutes (when using our online service). USA-FACT currently provides background credit check reports directly from TransUnion. Please provide the applicant's name and social security number.

Employment Background Credit Check Reports

PEER background credit check is the registered name for Pre-Employment Evaluation Reports designed by Trans Union, one of the three Credit Reporting Agencies in the United States. PEER background credit check was designed to allow employers access to credit information for candidates applying for positions in their organization while maintaining strict adherence to federal privacy laws.

USA-FACT provides PEER background credit check reports through an agreement with Trans Union utilizing our powerful Internet Software, USA-ONLINE. Our relationship with Trans Union has spanned over 15 years. This background credit check is similar to a standard credit report, with minor alterations to comply with restrictions established by federal law.

As an employer, you can get a look at employees' track records with the confidence that, when used within appropriate guidelines, the background credit check is fully compliant with the Fair Credit Reporting Act. In addition this background credit check includes a listing of other prospective employers who have reviewed the applicant's report in the last two years, which can help you assess an applicant's work stability.

Why a PEER Background Credit Check?

The resume looked great. The references were glowing. The interview went impressively well. But in these days, can you be totally sure of anything? The information from a PEER background credit check will boost the confidence of your decision. With a background credit check you can get an easy to read and completely unbiased report on candidates for hiring, promoting, or re-assigning. A PEER background credit check report can help you find out if an applicant is financially overextended or has a record of transience. If these patterns show up, they could signal instability as well as an inability to perform on the job. This is especially true if the job entails security responsibility, handling cash or having access to confidential information.

PEER vs. Conventional Background Credit Check

The PEER background credit check report utilizes the same information as the conventional credit report however for Fair Credit Reporting Act compliance, account numbers and date of birth information are suppressed, and codes are translated into text. A PEER background credit check report does not come with a Fico scoring model as Fico scores were designed to represent the credit worthiness of an individual and PEER reports were not designed for this purpose. A PEER background credit check inquiry does not affect the Fico score. PEER reports provide companies an insight into the general dependability of an applicant and return up to four past employers. There are four standard types of information included on a PEER: Identifying Information, Credit History, Public Records, and Inquiries.

Background Credit Check Identifying Information includes:

  • Name
  • Current and previous addresses
  • Social Security number
  • Telephone number
  • Current and previous employers

Credit History includes:

  • Retail stores
  • Banks
  • Finance companies
  • Mortgage companies

Public Records include:

  • Tax liens
  • Court judgments (including child support judgments)
  • Bankruptcies

Inquiries include:

  • Creditors
  • Employers
  • PEER Credit Reports
  • PEER® From Trans Union

Commonly Used Terms

Inquires – A list of credit grantors and other authorized parties who have requested a copy of the consumer's credit report

Federal Tax Liens - Unpaid taxes to the Federal Government

Release of Tax Liens - When the tax obligation is no longer due

Opened - The date the account was originally opened.

Closed - The date the account was eventually closed.

Verified - The last time this creditor reported any information on this debt to Trans Union.

Status - Current status on this debt.

Revolving - A charge account that does not have to be paid to a zero balance.

Installment - A loan repaid with interest in equal periodic payments; such as a car loan.

Mortgage - A loan repaid with interest where the property is held as security.

Closed with balance - Creditor closed the account to prevent future activity.

P&L Loss / Write-off - Creditor took the amount as a loss on their Profit & Loss statement.

Settled for less than full amount - Creditor & debtor negotiated a lower payoff amount.

Charge-off - Creditor took the amount as a loss, but it doesn’t change the obligation of the debt.

Payment after charge-off / Collection - Payment made to creditor after debt charged-off or sent to collections.

Consumer Message - A message that the consumer has asked to be printed on their credit report.

Bankruptcy Discharged - A court order terminating bankruptcy proceedings on debts.

Bankruptcy Dismissed - A court order denying a bankruptcy petition, making the debtor still liable for all debts.

Is a PEER Background Credit Check Legal?

PEER is compliant with the Fair Credit Reporting Act. Therefore, you can access information without fear of invasion-of-privacy or defamation-of-character lawsuits.

If the FCRA is followed correctly by your organization, the applicant will sign both a Disclosure and Consumer Authorization that allows you access to the information. Credit Information is a privilege in this country, so take care of it. Remember, obtaining a PEER on yourself is a violation of your agreement with USA-FACT as well as a violation of USA-FACT’s agreement with Trans Union. Obtaining a Credit Report on yourself is as easy as contacting Trans Union directly to get one sent to you or to be viewed online.

For frequently asked questions regarding credit reports please visit our Consumer Education site at:


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