Just a little
information about
Equifax procedures. While not telling you in advance that she was going to give this information out to the Equifax representitive was not polite, the cashier has full right under the law to do this. Equifax, which is an agency that tracks your credit, requires this information to be
given over the phone to verify the check. You were shopping at a private buisness. They have the right to establish any procedure they want before allowing you to use a check. If they wanted to they could require a
birth certificate and
Social Security card. There is nothing you could do about it.
Secondly Best Buy did
NOT know why you were rejected. Equifax wil not give an employee
ANY information except a failure code or an acceptance code. That is all. They are not allowed to discuss your credit with an employee. Even the manager couldn't get them to tell you. You have to call the number they gave you to get the
credit history department and find out why you were declined.
More for mat: there profits are going up because they mark up products by around say 100% to offset losses. This is graciously passed along to us, the consumer.
Equifax is to blame in this, not Best Buy. It is Equifax's policy to deny two purchases at the same store in two consecutive days.
Best Buy has nothing to do with the check approval or denial that is controlled by Equifax.
I am not saying
Best Buy is a good store, i think that for the most part they suck, but don't put
blame on the store for something that they didn't do.
mat catastrophe - Equifax is a federaly sanctioned credit company they are to my knowledge the only credit company the federal government uses to keep track of people's credit. There is an amazing amount of check fraud so these companies have to use a credit checker. Even with a credit checker these companies lose
hundreds of thousands of dollars every year to fake checks. Also if you rememebr the days when checks didn't need to be verified you remember the days that people used
CASH.