Bad Check Reports: Scan Report & Qualifile Score

Scan Report is a bad check database that retailers look at. It contains information about NSF checks--checks written that were returned for insufficient funds. The date, amount of the check and how long it took for the check writer to deposit money to cover the bounced check are in this report. This information is reported for three years.

Retailers use the information in the Scan Report to decide whether they want to accept your check and the large, national retailers usually augment the information with more of their own. If your check is denied at a retail store and you don't have a history of passing NSF checks, you may be the victim of identity theft . You can obtain a free copy of your Scan report from www.consumerdebit.com or by calling 1-800-262-7771. Dispute any errors in writing.

Qualifile Score is used to predict how likely you are to have a charged-off bank account in the next 12 months and is comprised of information contained in your Scan Report, ChexSystem file and credit-bureau reports. Banks and credit unions use this score to determine if they want to open an account for you. Qualifile Score can also be used to determine the creditworthiness of people who have a limited credit history.

Consumers cannot get their own Qualifile Score but it is based on your Scan Report and ChexSystems file, so you can improve it by not bouncing checks, or paying bounced checks very quickly. Avoid applying for accounts at different banks in a short period of time.

Your FICO credit score is part of this, so if you improve your overall credit rating, your Qualifile Score will rise. GetChecking is a course at www.getchecking.org you can complete if you have a bad checking account history and can make you eligible for a fresh start with a bank.

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