Denied Citi Checking? Um, what?

[andyaycw]

I recently applied for a Citi checking account. Got the letter today saying I was denied and that the decision was based on information obtained from Equifax.

Um WHAT?

My Equifax report is clean with no baddies at all. I checked my FICO score last month and it was a 733. Just to be sure though, I pulled again right now and still nothing negative on my report.

I'm going to call them. In the meantime, anyone care to speculate? Has this happened to anyone before?

[creditwherecreditisdue]

Sounds like a mistake. They do happen. Give them a call and let us know what happens.

[andyaycw]

Called them and said they can't do anything. Gave me a runaround telling me to call the credit bureaus, as if that will actually accomplish anything.

[creditwherecreditisdue]

Call them back and request a supervisor. Ask for reconsideration. In denied tell the supervisor you will be filing complaints with the BBB and OCC. If still denied then do it.

File these complaints:

1) BBB

     http://www.bbb.org/

2) Office of the Comptroller of the Currency:

     http://www.helpwithmybank.gov/

[Anonymous]

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@andyaycw wrote:
I recently applied for a Citi checking account. Got the letter today saying I was denied and that the decision was based on information obtained from Equifax.

Um WHAT?

My Equifax report is clean with no baddies at all. I checked my FICO score last month and it was a 733. Just to be sure though, I pulled again right now and still nothing negative on my report.

I'm going to call them. In the meantime, anyone care to speculate? Has this happened to anyone before?

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Just a thought. Have you had any past problems with another bank where they might have filed negative information with ChexSystems? This might interfere with opening another account.

[andyaycw]

To the best of my memory, I've never bounced a check, had any overdraw fees, never overdrawn an account or had a negative balance, etc. At the very least, I'm 99% positive I've never been charged a fee for any of those potential issues.

I've ordered a copy of my ChexSystems report and hopefully I get it soon - the website I ordered from told me 5 business days.

I may want to wait until I have looked at my Chex report before calling, requesting a supervisor, etc.

[Lel]

How long is your credit history?  Any new accounts in the past year or so?

Is all the information correct about you on the report, including the spelling of your name and birthdate?  I've heard rumors that if a creditor is unable to verify your identity, you could be denied.   Don't know this for a fact, but since your denial seems inexplicable at this point, you should be looking for the little quirks that could trip up your application.

[andyaycw]

My credit history is 3 years long, with 2 inquiries in the past two years (last month, and March earlier this year), and only 1 new account in the past year.

All my personal information was correct on Equifax, which leaves only Chexsystems.

[creditwherecreditisdue]

Did they tell you they would be sending out a letter stating a specific reason for this action? I really doubt you're in ChexSystems unless that, too, is an error. I doubt they would have said EQ if they meant ChexSystems. To me this seems really fishy. You just impress me a too solid for this to be anything other than a SNAFU.

[andyaycw]

Did a little more digging and it only added to my confusion. I called all my banks and asked them to check to see if I had ever had any type of fees, negative balance, overdrawn account, bounced checks, or any type of negative information. None of them could find anything wrong with my accounts. As far asaccuracy of information, I double checked my personal information for all my banks and they are all the same (and have been ever since the accounts were opened). 

Anyway, I went ahead and called the Citi New Accounts department and was informed that it was not because of EQ that I was declined, but because of Chex. I eagerly await to inspect my Chex report.