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jav32204
Posts: 19
Registered: ‎09-08-2008
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Credit Unions - Credit Report Update ?s

[ Edited ]
I recently was attempting to get a C/C with a local credit union and in order to get the C/C you have to at least have a savings account with them. I was denied opening a savings account because they said I was on a report stating I owed another bank money. This is the first I have heard of this and will be investigating it, but my question is do all credit unions require you to have a savings or checking account with them in order to get a C/C with them? If so do they all check this report? I was told I need to get a C/C asap to help boost my score and i dont know how long the investigation is going to take. PLEASE HELP!
Message Edited by jav32204 on 02-03-2010 11:42 AM
Member
jav32204
Posts: 19
Registered: ‎09-08-2008
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Re: Credit Unions - Credit Report Update ?s

[ Edited ]
Ohh and another question, I just paid off a credit card in full on 1/29 and checked with the issuer to see when they report and they advised they reported on 2/1 to all 3 Credit Co. How long will it take for my credit report to be updated if they reported on 2/1?
Message Edited by jav32204 on 02-03-2010 11:42 AM
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NinComPoop
Posts: 93
Registered: ‎03-14-2009
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Re: Credit Unions - Credit Report Update ?s


jav32204 wrote:
I recently was attempting to get a C/C with a local credit union and in order to get the C/C you have to at least have a savings account with them. I was denied opening a savings account because they said I was on a report stating I owed another bank money. This is the first I have heard of this and will be investigating it, but my question is do all credit unions require you to have a savings or checking account with them in order to get a C/C with them? If so do they all check this report? I was told I need to get a C/C asap to help boost my score and i dont know how long the investigation is going to take. PLEASE HELP!
Message Edited by jav32204 on 02-03-2010 11:42 AM

I haven't come across any CU's that do not require the opening of a savings account to establish membership In my experience.

 

Regular Contributor
LisaPA
Posts: 184
Registered: ‎10-26-2008
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Re: Credit Unions - Credit Report Update ?s

[ Edited ]

jav32204 wrote:
I recently was attempting to get a C/C with a local credit union and in order to get the C/C you have to at least have a savings account with them. I was denied opening a savings account because they said I was on a report stating I owed another bank money. This is the first I have heard of this and will be investigating it, but my question is do all credit unions require you to have a savings or checking account with them in order to get a C/C with them? If so do they all check this report? I was told I need to get a C/C asap to help boost my score and i dont know how long the investigation is going to take. PLEASE HELP!
Message Edited by jav32204 on 02-03-2010 11:42 AM

The concept of a credit union is that it is owned in part by all its members. Therefore you are required to buy a "share" in the credit union to become a member and be eligible for their products. This is the savings, or in CU lingo, share account. It's usually only $5, so it's totally worth it.

 

They might be using Chex Systems to check your banking history.  You can get a free copy of your report here since you were denied, so you can see who is claiming you owe them money.

 

Edited to add: I think most banks use Chex Systems, so you will probably be denied everywhere if there is something negative on that report.

Message Edited by LisaPA on 02-03-2010 04:27 PM

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