How can we avoid having to pay a service charge to get a rating
on a customer from a bank?
Answer: Without trying
to be flippant, banks charge for credit ratings because they can. There
are no laws that prevent banks from doing so and this is a profit center
- especially at $10 to $20 or more per inquiry. I share your frustration,
but there is very little a creditor can do to avoid these service charges. The information provided is not legal advice and is not a substitute
for legal advise. Readers are encouraged to contact an attorney to
discuss any questions that may arise after reading these questions
and answers with their attorney to clarify any of the issues raised.
|