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A comment on Credit Scores Can Run – and Ruin – Our Lives. Parent comment

Re:Credit Scores Can Run – and Ruin – Our Lives by JumpCrisscross on Wednesday May 25, 2022 @11:57AM (#31506365)
> You’re looking for a revolving credit line

Or an account that does not permit cheque writing and will bounce a transaction instead of letting it overdraft.

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Re:Credit Scores Can Run – and Ruin – Our Lives by nullfield on Wednesday May 25, 2022 @06:20PM (#31511441)
This is the requirement now-affirmative consent/opt-in:

https://www.nafcu.org/compliance-blog/overdraft-protection-m...

If they make it really easy for you to opt in/a quick checkbox then they can make money. That said if someone is living so tight and wants a transaction declined if their account doesn’t have the funds, the financial should make that easy and obvious to do. Behaving otherwise is predatory.

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Re:Credit Scores Can Run – and Ruin – Our Lives by nicoburns on Wednesday May 25, 2022 @12:43PM (#31507003)
> Or an account that does not permit cheque writing and will bounce a transaction instead of letting it overdraft

Seems like the problem might be that this system will also prevent people who have a bad reputation in it from getting one of these accounts?

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Re:Credit Scores Can Run – and Ruin – Our Lives by JumpCrisscross on Wednesday May 25, 2022 @01:36PM (#31507781)
> this system will also prevent people who have a bad reputation in it from getting one of these accounts?

Could. In practice, plenty of banks fill this niche [1].

[1] https://letmebank.com/banks-that-dont-use-chexsystems/

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