In January 2017, I was the primary source for my midwest financial assistance, with a midwest account that was underwritten by Bank of America, Chase and Wells Fargo.
In March 2017, we moved from an online account to a traditional one.
The first few months were rough for the new account.
My credit score was downgraded twice (and then again) from 7.4% to 6.8%.
I was struggling to pay my bills, and I lost my job.
By mid-June, I had $500 of my money back, but my credit score still dropped to 7.2%.
My monthly credit card payment had fallen to $1,000.
I had no idea why my score was falling.
Then, in September, I received a letter from Bank of American.
“We have been working with you to get you your score back.
It is our policy that all borrowers with a lower score are not eligible for this program.”
“Bank of America has made changes to our online program to address some of the issues that you have identified.
We have changed the process and your account will be closed in mid-December.”
They offered to help me reopen the account, but I was not willing to accept a refund.
That’s when I began looking into other options, including online banking.
While it’s possible to reopen an online bank account, this option is much more difficult for many people who are struggling to find a new source of credit.
And, because of the new bank’s decision to stop providing financial assistance to borrowers with low credit scores, it’s a huge loss for borrowers.
A recent survey by the nonprofit, Community Credit Union, found that over half of the borrowers who applied for financial assistance in the past three years had their account closed.
But the most common reason for account closures was a credit score that fell below 7.1%.
So I decided to take matters into my own hands.
Instead of signing up for an account, I decided I would simply ask a friend to help.
Since my friend didn’t have an account yet, I asked her to send me an email to help open an account.
I then opened my bank account using that email.
Within two weeks, I opened my account, and my credit report went from 7 to 7,9% My initial credit score had fallen from 7 in May to 6 in November.
Now, my credit was up to 8.1%, but my overall score fell to 7 in the final months of 2017.
Bank of American, Chase, Wells Fargo, Experian, TransUnion, and Equifax all declined to respond to multiple requests for comment.
According to the credit bureau, the number of borrowers with credit scores below 7% is increasing every year.
As of August 2019, there were 8.6 million people in the US with credit cards that had a credit-rating below 7%, according to Experian.
For those that are struggling with a credit problem, there are financial tools that can help you.
If you have questions about the credit bureaus, please contact the National Credit Union Administration.
Read more stories from Fox Sports: WWE Wrestlemania 30, New Orleans, Pelicans, Hawks beat Wizards, Wizards get past Pelicans in win over Pelicans, Pelicans win Game 1, Pelicans lose Game 1 article WASHINGTON — The Washington Wizards defeated the Atlanta Hawks in a Game 3 of the Eastern Conference Semifinals Monday night, advancing to the second round of the playoffs.
After trailing the Hawks in the third quarter, Washington led by as many as 10 with 4:02 left.
Atlanta was down 10 with 1:27 remaining.
Wizards guard Bradley Beal missed a 3-pointer in the corner.
C.J. Miles missed a layup with 4.5 seconds left.
Washington got a chance to get the lead back after Marcin Gortat had a dunk off a screen from Hawks guard Thomas Robinson.
He missed the shot.
Gortat missed the free throw with 3.7 seconds left to make it a two-point game.
Washington missed the next two free throws.
Markel Brown scored seven points for the Wizards.
Brandon Jennings had 11 points and eight rebounds.
Nene added 11 points.
Jarrett Jack had 11 rebounds.
The Hawks defeated the Thunder, 96-87, in Game 3 on Monday.
Thunder guard Andre Roberson had 17 points and 10 rebounds.
James Harden had 11 assists for the Thunder.
Harden is averaging 28.4 points and 8.8 assists for his career.
Jeff Teague had 17 of his 24 points in the second half for the Hawks.
Ryan Anderson had 14 points and 12 rebounds.