Credit Cards

turn on suggestions Auto-suggest helps you quickly narrow down your search results by suggesting possible matches as you type.
Auto-suggest helps you quickly narrow down your search results by suggesting possible matches as you type.
Reply
Topic Options
Frequent Contributor
EaglesFan2006
Posts: 277
Registered: ‎01-31-2008

Credit Card Question - Bank Accts

Options

‎03-31-2009 12:16 PM

Another question about opening a CC...I am in the chexsystems database for about another year from past account activity.  As a result, my only bank accounts are a savings account through a credit union, and then I have Greendot, a prepaid Visa that serves as like a checking account (i use it's routing information to pay student loan and other bills).  This is where my paychecks are direct deposited to.  Would any of this help me or hurt me in the area of credit card approval?  Do balances matter?  If so I could transfer more in to my savings account

Message 1 of 5 (570 Views)
 
Reply
Established Contributor
VEEnVEGAS
Posts: 645
Registered: ‎10-24-2007

Re: Credit Card Question - Bank Accts

Options

‎03-31-2009 08:57 PM

I'm not sure if it applies to all credit cards and all companies, but I believe I've read in this forum of people being denied credit  because of being in Chexsystems(I think what I read was in referance to US Bank)  .

 

I'm sure others here will know more.

Message 2 of 5 (521 Views)
 
Reply
Senior Contributor
txjohn
Posts: 4,214
Registered: ‎09-12-2008

Re: Credit Card Question - Bank Accts

Options

‎04-01-2009 04:02 PM

US Bank operates much like the Credit Unions, which also seem often use Chexsystems it seems.

Credit Scoring 101 - Tuscani   *  Guide to Common Abbreviations
Frequently Requested Threads * FICO High Achievers  *  FICO Score Estimator


09/03/2009 TU: 777, EQ: 776 ($8 balance on an account dropped me out of 780's)
03/28/2009 TU: 814, EQ: 810, EX: 781 (02/12/2009)
05/18/2005 TU: 563, EQ: 580, EX: 549
Message 3 of 5 (475 Views)
 
Reply
Established Contributor
YoungEntrepeneur
Posts: 580
Registered: ‎03-03-2009

Re: Credit Card Question - Bank Accts

Options

‎04-01-2009 04:21 PM

When I applied for a US Bank card last month, they denied me based on my EX and TU reports. They didn't list anything about Chexsystems.
Message 4 of 5 (468 Views)
 
Reply
Senior Contributor
txjohn
Posts: 4,214
Registered: ‎09-12-2008

Re: Credit Card Question - Bank Accts

Options

‎04-01-2009 05:33 PM

Did you have derogs in Chexsystems at the time of app?

Credit Scoring 101 - Tuscani   *  Guide to Common Abbreviations
Frequently Requested Threads * FICO High Achievers  *  FICO Score Estimator


09/03/2009 TU: 777, EQ: 776 ($8 balance on an account dropped me out of 780's)
03/28/2009 TU: 814, EQ: 810, EX: 781 (02/12/2009)
05/18/2005 TU: 563, EQ: 580, EX: 549
Message 5 of 5 (457 Views)
 
Reply

myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.

>> About myFICO
FICO Score - The Score that matters
Click to Verify - This site chose VeriSign SSL for secure e-commerce and confidential communications.
www.myfico.com is a BBB Accredited Financial Service in San Rafael, CA
FOLLOW US Social Media Facebook Twitter Pinterest Google+