Are We More Than Just A Credit Score?

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I remember the days when you just needed to go to your local bank to get a loan. The bank manager would approve or deny it on the spot. I liked the personal touch of applying for a loan. Those days are gone. Today we are just a number so to speak. Today so many banks have to send your information electronically to their main office to get a loan approved. Things have changed and your credit rating has a lot to do with the interest rate you are offered on loans. Your credit score also affect the approval or disapproval of your loan. I hate sitting in an office waiting to see if my loan was approved or denied. We just purchased a new vehicle and the waiting was difficult. Thankfully the loan was approved by all three places that the dealership submitted the request to. Still the waiting and wondering was difficult. I knew your credit rating was a major factor in more things than just loans but I did not know that there was a consumer report that deals with your banking relationships. I just learned of that practice today. From what I understand, the consumer report has such things as insufficient funds charges. These charges stay on your consumer banking report for five years. Evidently not all banks use this report in determining if they will do business such as opening a money market account or checking account. It is very common to be turned down on opening a checking account if your report has a lot of negative information in it. Under the Fair and Accurate Credit Transaction Act (FACTA) You can receive a free banking report every twelve months. To request your free Chex Systmes, Inc Consumer Report here. https://www.consumerdebit.com/consumerinfo/us/en/chexsystems/report/index.htm To request your free SCAN Consumer Report here. https://www.consumerdebit.com/consumerinfo/us/en/scan/report/index.htm To learn more about these reports and your rights, go to consumer debt resource https://www.consumerdebit.com/consumerinfo/us/en/index.htm Was you aware of this banking report?