topic ss# for credit reporting ect.. in Rebuilding Your Credit

ss# for credit reporting ect..

Anonymous — Sun, 10 May 2009 01:38:03 GMT

#1 do you first have to provide a company with your ss# For them to put somthing on your credit ( bad or good) ?

#2 If i get a 1000-2500$ secured credit card from my bank do they give the money back after a year? Also, do they check your credit when getting a secured cc?

Re: ss# for credit reporting ect..

Cinnnamon — Sun, 10 May 2009 01:47:03 GMT

No the secured card is a savings account . It your money to secure funds that if you don't pay on the card they can use the funds to pay off any debt you owe the bank. It can help you build credit that you can possibly transfer to an unsecured card and also it depends on the bank that you have an account with and if you meet their credit criteria and when you credit score goes up you can apply for other card, some bank don't go by the FICO score as some go by the way you handle your accounts and the bank can determine if they want to issue your credit based off different criteria and policies.

Re: ss# for credit reporting ect..

Anonymous — Sun, 10 May 2009 01:49:32 GMT

Jarred wrote:
#1 do you first have to provide a company with your ss# For them to put somthing on your credit ( bad or good) ?

No

#2 If i get a 1000-2500$ secured credit card from my bank do they give the money back after a year? Also, do they check your credit when getting a secured cc?

All depends on the bank/CU. Some return deposit after X months, some don't. Some check your CR, some don't.

Re: ss# for credit reporting ect..

Cinnnamon — Sun, 10 May 2009 04:53:34 GMT

Most banks will required you ID and SSN due to the Truth in Lending Act of 9/11. But it depends on the bank due to 9/11 laws to fight federal funding of terrorist.

Banks are allowed to open an account for someone without a SSN as long as they have a document from their home country such as a passport, drivers license or other picture ID's. But I don't know any bank that don't required a SSN- if your a US citizen. Since 9/11 banks gotten strict on loans and also verification requirements in opening accounts. Just be prepared to give it upon request. Bank can also reject your account to be opened without the necessary docs or information.

Re: ss# for credit reporting ect..

Anonymous — Sun, 10 May 2009 21:21:35 GMT

@Cinnnamon wrote:
Most banks will required you ID and SSN due to the Truth in Lending Act of 9/11. But it depends on the bank due to 9/11 laws to fight federal funding of terrorist.

The truth in lending act has nothing to do with 9/11 in fact it was first passed in 1968. This act requires banks and other lending institutions to disclose key terms such as interest rate, monthly payment, etc to the consumer.

The act which in which I believe the OP is referring to is the Patriot Act.

Banks are allowed to open an account for someone without a SSN as long as they have a document from their home country such as a passport, drivers license or other picture ID's. But I don't know any bank that don't required a SSN- if your a US citizen. Since 9/11 banks gotten strict on loans and also verification requirements in opening accounts. Just be prepared to give it upon request. Bank can also reject your account to be opened without the necessary docs or information.