ChexSystems Entry Removal

[cartwrna]

Wow. Never knew that! Mine is clean anyhow :-p

[Anonymous]

The more you know,  more it frustrates you. 

 ARS is usually to report issuance of MC or Visa card. It is often called ICS (Issuer's Clearinghouse Service) where furnishere report applications with your name for MC or Visa.

EWS (Early Warning Service) is one of the most detailed one used by BoA, JP and I guess Chase. They report ledgers that led up to Charge-offs and Account Closures as well as the fact if the account has been purged. You will be surprised to see what is in there.

[cartwrna]

Can I pull that report?

[Anonymous]

Yes in fact FCRA regulates them as well because they are all CRAs. Unlike 3BGs, you need to call someof them while others requires a idetification certification by you along with your DL to send you a free copy. once you have all those, it would look like a masssive book.

I am still surprised though the degree of info EWS reposits.

[cartwrna]

Any idea how long it stays on file?

[gdale6]

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@cartwrna wrote:
Any idea how long it stays on file?

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Negative info would still be governed by the FCRA.

[Anonymous]

Negative retail banking reporting is reported for five years from the date of reporting. Some of them state their current reporting practice on the first page of the consumer report. A reporting financial institution, however, may choose not to report. Regardless of record keeping or reporting period, some financial institution tends to put less weight on such reporting after two to three years period when they are making a decision relating to retail banking. Because a branch manager has an overide authirty in such cases, this is the reason you may hear that some people have been able to open accounts despite an entry in the ChexSystem.