Revive letters of credit

I don’t like having to give businesses my Social Security number so they can check my credit score. Instead I would like to be able to call my bank , verify my identity with them, and then give the name of the company, rental agent, cable provider, insurer, etc to send a letter of good credit to saying the bank has verified my ID, that I have a good credit score and am in good standing with them. The bank may also send my address and phone # on file so the business can confirm billing information.
3 Comments
Adventurer

That is an excellent idea, as I do not have ANY trust or faith in the three credit bureaus or any new one that's popping up. I am a victim of the Equifax hack, as well as a government hack for information. I try to minimize my electronic input and output. I have been comfortable with financial institiutions. However, I do check all of my accounts frequently.

Community Manager
Status changed to: Good news! We have this!

Good morning @MVN75 and @alltojah - Thanks for sharing your idea here! We know everyone is feeling stress and frustration over the hacks, including us! We do have a letter for a “Member in Good Standing”, and while it doesn't confirm your direct credit score it does acknowledge you're a member in good standing with BECU. This letter can be requested when you’re applying for services at various companies as you mention, but each merchant is different and it's up to each company to accept the letter from BECU. Thanks, JohnS

Wanderer

This would also be helpful when shopping for a home loan/refinance -