NFCU Navy Federal DOES Check EWS ( Early Warning System )

[Anonymous]

I order free EWS report and recieved today. I can confirmed now that NAVY does check EWS for opening saving or checking account.

I joined Navy last week, open saving account and applied GoRewards, in result TU hardpull for CC and now EWS for saving account.

I hope this data point 2018 help a lot. Seem Navy make some changes starting 2018, like most members get denied for 91+/3 CLI but approved for 2nd card with huge SL, so maybe this EWS pull seem in their new book for 2018.

[Anonymous]

INQ for NAVY

[Anonymous]

A nice project for somebody to do one day would be to put together a single spreadsheet with five colums:

     (a) Name of Bank/CU

     (b) Does it report its accounts to ChexSystems?

     (c) Does it report its accounts to EWS?

     (d) When someone applies for an account or membership, does it do an inquiry at ChexSystems?

     (e) When someone applies for an account or membership, does it do an inquiry at EWS?

Different  banks/CUs will have pretty much every possible configuration of answers.  Some do their inquiries for a new account app with one bureau, but report the accounts themselves (once opened) to the other.  Some report to both but only do an inquiry at one.  Some do inquiries at both but only report to one.  Etc.

[Anonymous]

I just started it now.

https://docs.google.com/spreadsheets/d/1XsDkCxT5QKixafufZLF09Gj2areZw11YfdOu5ERvjfY/edit?usp=sharing

Who else do we have DP for?

[Anonymous]

Yay!! Good job!

[Anonymous]

Good job, Grasshopper!  I suggest you go to Doctor of Credit.  He published a few articles on this and there should be a lot of datapoints on it, especially if you read through the comments.  I submitted my data (such as it was) to DoC, though I can't remember what they were.  I was pretty detailed. 

DoC never ended up compiling this single master table with the five columns I mentioned, so I really encourage you to keep after it.  Once you have get everything put together (including much of his past data) he may well be willing to post another overview of EWS and ChexS and link to you, which in turn will result in his readers giving you yet more data.

[Anonymous]

PS.  Here on the MF forums, we often make the mistake of implying that EWS is used only by the banks who founded it:

Bank of America

BB&T

Capital One

Chase

PNC

US Bank

Wells Fargo

This is untrue.  Other banks/CUs report to EWS as well (or use it as their source for evaluating applications for new accounts).  And if memory serves, some of the seven institutions listed above use Chex as well.

[Anonymous]

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wrote:

PS.  Here on the MF forums, we often make the mistake of implying that EWS is used only by the banks who founded it:

Bank of America

BB&T

Capital One

Chase

PNC

US Bank

Wells Fargo

This is untrue.  Other banks/CUs report to EWS as well (or use it as their source for evaluating applications for new accounts).  And if memory serves, some of the seven institutions listed above use Chex as well.

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Very true, Thats why I posted about this when I saw NFCU inq my EWS when I open saving account with them. In the past, people in this forum still wondering if NFCU or other CU pull EWS or not. Now it CONFIRMED guys!!!

[Anonymous]

GrasshopperStudent you might as well submit your work for college credit too! Why not ... ?

[Anonymous]

Do you know what level of detail they are reporting to EWS on an ongoing basis?

I hate it when banks report my monthly balances and paycheck amount (ACH transfers).