Credit Report Shops

Shop Details: Hi Shoppers! We have a new program available at XXXX Branches near you! In order to complete this shop, you must: Be a XXX XXXXX account holder. If you do not have an existing XXXXX checking or savings account, you are NOT eligible for this shop. The purpose of this shop is to evaluate whether or not XXXXX branches follow the Free Credit Score promotion procedure. (Customers can receive their credit report online for free and review it with a banker at a branch)

I have a horrible credit report (since the 2008 debacle), and I'm a little nervous about this shop. I do have an account with this bank. Do you think digging up my credit report with my bank will hurt my relationship with my bank, or be a real opportunity to start repairing my credit? For the record, I owe money to the bank I left in NC. It's a little embarrassing. :-/

I really need the shops and they pay $15 for each of two required visits. There are 4 branches available in my current city. I need some experienced advice!


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I would view it as an opportunity to get free professional advice. Hopefully, they will be able to suggest a workable strategy to repair your credit, one step at a time.

Good luck!


I intend to live forever. So far, so good.
I would do it and also look at it as an opportunity to start turning things around. I'm a Dave Ramsey certified counselor and I found this website which is fantastic for creating a debt snowball and starting to pay debt off. You simply enter how much you want to pay off debt each month/week and what your debt is and it shows you how to go about it. I just love it and use it with my clients all the time.

You didn't name the client, so would you mind naming the MSC?

I don't think it would hurt you with the bank to look over your credit report. You already have an account, and as long as you're holding up your end, they wouldn't be cutting you loose. If you applied for a credit card or loan, they would be checking your credit anyway.
I have done these shops in years past, and I am certain doing this shop will not negatively affect your relationship with the bank. In the past, there were two versions, one of which required a follow-up meeting after you access your report at home; the other did not. In either case, you would find nothing but benefit from meeting with the banker for some suggestions to get you on track.

Would you mind naming the MSC, since the client was not mentioned? I think it may have changed since last year, as I don't see it with the one I shopped for in 2012 and 2013.

The harder I work, the luckier I get.
I can tell you this, the shop offers you a credit report and score + a sales presentation from a personal banker at a major bank that is nationwide. Many of these bankers have No formal training or real knowledge, they are there to try to sell you products. To me, this promotion is simply like a time shares promotion. Depending on the personal banker you get, it might be high pressure or very low pressure, but none the less it is a way to get you to sit down and have a sales presentation made to you.

You can get a free credit report once a year online if you really need to know your score. If you want a pretty straightforward mystery shop though (with no real impact on your credit score being it is a soft pull), it is your basic low- mid paying shop... Just don't think this bank really is doing you a favor or offering professional advice.
Also digging up your credit score will have no impact on your banking relationship. If you are going to apply for a loan with this bank one day, they will see your credit history anyways. Now if they pull your ChexSystems report and there is negative information, they can then close your checking account even if you already have an established relationship with them.... (For instance if you have had a charge off of your bank account at another bank before or even while you already had an account at this bank as well)
Thanks everyone! The MSC is Service Sleuth. They also have a $50 high end car shop here in town . . . for a MALE only!! Grrrrr . . . I really wanted that one!

Now, if they would just extend the 11/1 due date on these bank shops! My gas money won't be in the bank until Monday! It's killing me that i have to pass on shops because of lack of working capital! I can't even buy a burger right now :-(
I did this shop. The one I had to do gave me the info then you go pull your free credit report (you are supposed to do it once a year anyways and I was overdue). I did it and didn't care for it. I inquired if you could do it more often as you are basically seeing if the teller offers the promotion to you. She then started telling me since the credit card I have with them has a high balance I should speak to a banker and change it into a loan...well I worked for that bank a few years ago and have a team member credit card with a 6% rate on it...of course I am going to have my big balance on that card...I pay very little interest on it (its less than my grad school federal student loans for heavens sake!). I always get a little perturbed when the bankers bring up that card...I tell them DO NOT TOUCH IT! That rate is unheard of for credit cards and I DO NOT want to lose it by some banker bringing attention to the credit managers that I am no longer a team member. I lost my team member checking account and savings and feel I am owed the credit card for my service...

I have a pending email out asking if I can do more of them because after you get the promotion you are supposed to pull your credit report on your own. So I am curious if the shop can just be that you go get the info from the teller.

I know there are some that you are supposed to speak to a banker about the credit report and that one I am not down for. I worked for the bank (2009-2011) in auto financing and I know how the bank works from talking with the bankers and even coworkers who went to the bank and came back to my department. They are basically going to try to sell you a auto loan (secured) or a unsecured loan to consolidate you debt. I know the product of the auto loan and would NOT do it. If they are still holding to it they will basically put a loan on your vehicle that will enevitablly put it upside down because of the rate. So say you drive a car that is valued at 5k, the will loan you 7k on it, then if you get in a accident 6 months from now your car has depreciated to 4500 and your loan is still at 6k, you are now responsible for paying the difference to the bank because the loan is no longer secured....which will either be in a higher rate unsecured or whatever...BIG MESS! JUST SAY NO to the bankers! They are all on sales goals to open products (checking, savings, cds, loans, etc..) up and so many of them will do it just to make their also never go in EOM...they will be HUNGRY if they are short on their goal.

I had one banker who sat down and started asking about the credit card and was telling me I should go for a rewards card, I told him no and then he started actually calling the credit line. I told him HANG UP!

in regards to the shop long as you don't have to sit with a banker...the shop is fine if you want to get your credit report. Its a little wonky of a report and totally doesn't give the BEST picture as their grading system is different than what most credit companies are...and I am wondering if they would actually know if you pulled your credit because you don't submit that portion you just say if you experienced any difficulties pulling your credit.

Interesting perspective, mysteryshoppinggurl. I have done two of the shops where i had to sit down with a banker, and did not experience any pressure to open or convert a loan. They simply asked if I had interest in any products, and when I declined, I was on my merry way.

The harder I work, the luckier I get.

Edited 1 time(s). Last edit at 11/01/2014 03:25PM by JenW.
If you owe money from 2008, just wait it out....negative information
falls off after 7 years so it will disappear in less than 12 months,
depending on which month you stopped paying them...
Also, in the majority of states there is a maximum of 6 years
that they are allowed to collect from you so you are already
past that...(Some states it's less - as little as 3 years, on the
flip side a couple states have 10 year statue of limitations)

Now if you make any type of payment then that clock restarts,
so dont.

= + = + = + = + = + = + = + = + = + = + = +
There are no stupid questions, but there are a lot of inquisitive idiots
When you try to please everybody, you end up pleasing nobody

Edited 1 time(s). Last edit at 11/01/2014 03:24PM by techman01.
Be aware that the statute of limitations for collections can "start over" if you acknowledge the debt ("I'll try to send you $50 next week"winking smiley or make any payments on it (you actually send them $50) after the initial default. Check your state laws regarding when the statute of limitations actually starts counting.

Time to build a bigger bridge.
I did a search for Credit Karma, and this is the most recent thread that came up, but I have seen it mentioned or suggested several times here on the board. I just want to say that I call BS on Credit Karma! I used it to check my and my husband's scores a few months ago, and was super bummed that my score had slipped significantly over the past year, with financing of an AC system being the only real purchase/change. Well, my Wells Fargo was running a promo offering a free Experian report, and I just ran our scores through there. My score was 120 points higher than with CK, and my husband's was 115 higher than with CK. I re-checked Credit Karma, and my score is still hanging right around 700. I Googled the issue and it seems this is commonplace, with lots of people expressing concern with the same issue. Perhaps they are looking to sell the products they promote at the expense of integrity? Just saying.

The harder I work, the luckier I get.
Really? CK has mine at 767. I'm going to be applying for a mortgage soon. I'd be happy as a pig in slop to find out it's really 887.

Actually, the three credit companies have different ways of evaluating the FICO score and a different "range." So it's not unusual for scores to vary. But if one shows you in the "excellent" range, the others should too, even if the scores are not the same.

Time to build a bigger bridge.
CK has me at 710 (Good/B rating), while Experian has me at 830. CK has my spouse at 695, with Experian at 810! I have always hovered around 800, so I was pretty dismayed with the 710 score. The CK report shows two contributing issues: the financing of an AC unit in June (hard hit) and my low number of credit accounts. Not really fixable, because opening more accounts would require more hard hits. In any event, I am not alone with this concern, so it may be looking into. If you can get to a Wells Fargo today, you can get a code for a free Experian report. The promo ends tomorrow, though.

The harder I work, the luckier I get.
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