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Established Contributor
Posts: 556
Registered: ‎01-31-2008
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Credit Card Question - Bank Accts

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

Chase Freedom: $1500, Citi Diamond Preferred: $3000, Barclays: $3900, Chase Disney Visa: $1500, Chase Southwest Signature: $5000, Citi TY Preferred: $3000, Cap One Platinum: $1750, Cap One Platinum Rewards: $2500, Orchard Bank: $900, Kay Store Card: $4500
Established Contributor
Posts: 645
Registered: ‎10-24-2007

Re: Credit Card Question - Bank Accts

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.

Senior Contributor
Posts: 4,214
Registered: ‎09-12-2008
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Re: Credit Card Question - Bank Accts

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

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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
Established Contributor
Posts: 586
Registered: ‎03-03-2009
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Re: Credit Card Question - Bank Accts

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.
Senior Contributor
Posts: 4,214
Registered: ‎09-12-2008

Re: Credit Card Question - Bank Accts

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
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