Chicago, Ill. (Vocus) August 29, 2009
The latest evidence that the US is beginning to pull out of the recession came in from gloomy numbers posted by a monthly report card of consumer payment patterns that noted some major credit card issuers announced small drops in the level of borrowers who were at least a month behind in payments. Second chance checking takes this news as a cue that many who had experience difficulties or had a closed account may be in need of a free second chance checking or bad credit checking account, states FreeSecondChanceChecking.com.
American Express Co. and Bank of America Corp. each announced a small drop in the level of borrowers who were at least one month behind in their payments in July as compared to the previous month. Though the figures are higher than historical standards, the latest numbers add to optimism that the economy is bouncing back. The latest numbers could be a sign of consumers gaining financial stability.
FreeSecondChanceChecking.com takes this as a sign that people who had experienced difficulties with their account may have found their financial footing and will be in need of a new free second chance checking. When a person has issues with their checking account, such as bounced checks or being negative in their account, they may have their account closed. When this happens, they will often be reported to verification systems such as ChexSystems or TeleCheck.
Many banks will use these verification systems when deciding whether to allow an application to open a new checking account. If an applicant’s name shows up in a negative light, they could be denied. An increased number of people have had this experience as the joblessness rate increased and the economy worsened. Now that the economy is showing signs of recovery, people affected may be in need of a bad credit checking account for a short period of time while they rebuild their credit.
FreeSecondChanceChecking.com is a resource for people in need of second chance checking. People affected negatively by ChexSystems or TeleCheck may need second chance checking to rebuild their credit before applying for a new checking account.