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Regular Contributor
Posts: 138
Registered: ‎06-10-2010
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Orchard secured - ChexSystems

About a month ago, I sent out the application for an Orchard secured card, along with a check for $1,000.

 

I just received a letter in the mail today from HSBC saying they are unable to open the savings account that is required. There's a separate letter that says I was declined due to "previous banking history" from ChexSystems.

 

I have no idea what this might be about. I haven't had any bounced checks in over two years. I had an old checking account that was overdrawn, and I paid in full about two years ago. I have a BofA checking and savings, along with an ING savings that I opened a few years ago.

 

Has this happened to anyone else?


Starting Score: TU: 550 EQ: 556 (pulled 6/2010)
Current Score: (pulled 4/18/11) TU: 668(pulled 4/18/2011) EQ: 741
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Valued Contributor
Posts: 1,051
Registered: ‎05-20-2010
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Re: Orchard secured - ChexSystems

Aw that sucks. Didnt happen to me, but you can request a copy of your Chex Systems report. Maybe there is something on the report that is not reported correctly and needs to be disputed and removed.

TU: 603 – EQ: 569 – EX: N/A – May 2010

Valued Member
Posts: 50
Registered: ‎06-17-2010
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Re: Orchard secured - ChexSystems

I found this on the Chexsystem site: 

My account was paid. Why wasn't the report removed?


A reporting member is under no obligation to remove an accurate report of account mishandling due to payment of monies owed. However, the member is obligated to update the report with a paid in full or settled in full date when applicable.

 

Hope this helps, although you still might want to get a copy of your report.

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Registered: ‎07-14-2009
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Re: Orchard secured - ChexSystems

 


KeepSwimming wrote:

About a month ago, I sent out the application for an Orchard secured card, along with a check for $1,000.

 

I just received a letter in the mail today from HSBC saying they are unable to open the savings account that is required. There's a separate letter that says I was declined due to "previous banking history" from ChexSystems.

 

I have no idea what this might be about. I haven't had any bounced checks in over two years. I had an old checking account that was overdrawn, and I paid in full about two years ago. I have a BofA checking and savings, along with an ING savings that I opened a few years ago.

 

Has this happened to anyone else?


This happened to my son. He was told even after he paid the account would report for 5 years.

 

 

 

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Registered: ‎08-04-2007
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Re: Orchard secured - ChexSystems

I find it interesting that Orchard pulled Chex. I just got my report this week for the year and if I recall correctly, inquiries are listed for 3 yrs, vs. 2. May be wrong on that, but feel fairly certain. Anyway I also applied for an Orchard secured and received it just under 3 yrs ago. I reviewed my report and Orchard or HSBC wasn't listed.

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Posts: 268
Registered: ‎06-26-2009
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Re: Orchard secured - ChexSystems


marinevietvet wrote:

 


KeepSwimming wrote:

 

 

Has this happened to anyone else?


This happened to my son. He was told even after he paid the account would report for 5 years.

 

 

 

 

Same thing happened to me... thankfully I am on my last 6 months of my 5 year sentence for a crime I really didnt commit. The only thing you can do is find a bank that doesnt use Chex. In my case I had a relationship go south and in way to get vindicative the other party ran up a couple thousand in NSF`s & Fees.  It took me 2 years, but I finally paid the merchants.... The banks were another story... We`ll take your money, but we`ll still report you. Really? I asked........Really! they said and something about there is no law that says they have to anything else but say it was paid.  It took me all of 5 seconds to turn from nice guy wanting to do the right thing to payment nazi....... NO MONEY FOR YOU! 

 

I have managed to open a checking account with a local bank that doesnt use Chex and last month opened a secured card with capital one without any issues.

 

Here is the real kicker about Chex sytems..... They also own many of the check printing companies... Designer Checks, etc. One of the tricks they like to do is when someone gets on their "guest list" is they watch for check orders on many of their printing companies. Default on Bank A, but still have open accounts at Bank B and Bank B is a member of Chex and very soon thereafter gets a memo from Chex that you are in the system for shafting Bank A.  Bank B now has your banking in their hands and some banks can and do close accounts due to Chex ratting people out.... All because you ordered checks from a company owned or affiliated with Chex

 

Also, the larger banks security departments routinely randomly check current acount holders with the Chex database to see if they are harboring any wanted Chex fugatives....Many Many Many people have had checking accounts frozzen and closed ( without warning ) at Wells Fargo, Chase, and B of A.  BE WARNED

 

 

 

 

 

 

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Established Member
Posts: 31
Registered: ‎11-13-2009
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Re: Orchard secured - ChexSystems

Id get your chexsystem report asap.

 

I had a similar situation where I had overdrawn a bank account, got charged up the ass in fees (daily fees, overdraft fees, yada yada) and it became unpayable at the time within a couple days. I settled it and paid it a year or two later but upon pulling my chexsystem report years after, I found that it was still reporting as payment status:unknown. Im currently disputing it with them and Ive been able to use the paid letter (that shows everything is settled) to open an account in the meantime.

 

I think some banks find they have the motivation to report anyway they can when you owe them money but once your paid up, they dont care enough to report that (us bank).


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Regular Contributor
Posts: 138
Registered: ‎06-10-2010
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Re: Orchard secured - ChexSystems

Hey all,

 

Thanks for the replies everybody. I got my Chex report today....

 

There's one issue on there, from an old bank account that was overdrawn, and I didn't know. I moved a lot and had switched to BofA, thinking I'd left like $20 in my old SunTrust. I got a notice last year that I had a -$327 balance. I promptly called and paid it, but it looks like it's listed on my Chex report. It states that it's paid in full as of August 2009.

 

Is it even possible to GW this stuff? I paid it as soon as I realized I even owed it.

 

By the way, there is an inquiry on here from HSBC for the Orchard card.

 

Now I have no clue what to do. I'm assuming this prevents me from getting a secured card. Am I just stuck with my $500 CL CapOne?


Starting Score: TU: 550 EQ: 556 (pulled 6/2010)
Current Score: (pulled 4/18/11) TU: 668(pulled 4/18/2011) EQ: 741
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Senior Contributor
Posts: 3,197
Registered: ‎01-24-2010
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Re: Orchard secured - ChexSystems

 



Now I have no clue what to do. I'm assuming this prevents me from getting a secured card. Am I just stuck with my $500 CL CapOne?


   Have you considered getting a secured card from Capital One? 

 

Regular Contributor
Posts: 138
Registered: ‎06-10-2010
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Re: Orchard secured - ChexSystems

Hey Wolf,

 

I would, but I just got their $500 unsecured...does that matter?

 

Part of the reason Orchard was appealing was b/c it didn't do a hard pull. :smileysad:


Starting Score: TU: 550 EQ: 556 (pulled 6/2010)
Current Score: (pulled 4/18/11) TU: 668(pulled 4/18/2011) EQ: 741
Goal Score: Above 700 on both


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