cancel
Showing results for 
Search instead for 
Did you mean: 

Credit/Checking account

tag
Anonymous
Not applicable

Credit/Checking account

Can I open a new checking account even with absolutely awful credit???
Message 1 of 4
3 REPLIES 3
llecs
Moderator Emeritus

Re: Credit/Checking account


cooda909 wrote:
Can I open a new checking account even with absolutely awful credit???

 

Where are you thinking about banking at?

 

Some banks and CUs will pull your CR(s) at the time you want to open an account. Some banks and CUs won't pull your CR, but will pull Chexsystems instead. Yet others might pull but they don't care.

 

When I started repair, my FICO scores were in the low to mid-500s. I also had derog info on Chexsystems. From personal experience, I was able to open checking and savings at Bank of America and Wachovia without any issue. I tried with a couple of regional banks but were declined and those were BB&T and Chevy Chase Bank (now part of CapOne). I think both of those tried Chex. I also tried at Pentagon Fed. CU and was denied due to derog info on my EQ report, but was able to open a share account to get my foot in the door. Also tried NASA FCU and CCCU but was denied due to derog info on Chex. Finally, and recently (despite bringing scores to the 700s), I was denied by Alliant CU due to derog info on Chex.

 

You may have to do some searching to see if the pull or if they care.

Message 2 of 4
FicoScore626
Frequent Contributor

Re: Credit/Checking account

My credit was poor shape in the past but I was able to open an account with Chase bank and then later, Citibank.  Chase was actually the easiest bank for me to open an account with. With Citibank I had a Chexsystems issue to deal with first before they opened an account for me, but I took care of the issue quickly and got my Citibank account.
Message 3 of 4
Anonymous
Not applicable

Re: Credit/Checking account

I think that most banks pull your CR to be sure that you are who you say that you are and to be sure that you do not have a record of bad checks anywhere.
Message 4 of 4
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.