@Anonymous wrote:
@Vu wrote:
@Anonymous wrote:
@Vu wrote:
@Remedios wrote:Yeah, some would but that is not the case here. This thread is about OP's situation, and it's not applicable in his case.
In addition, even if it dropped off CR and Chex/EWS, Chase would still have internal records. In my case, they have them from Providian days, so presence or absence of overdraft on CR is relatively moot point here.
OP got denied because he owes them money. Where the record is kept is highly irrelevant because it would not change the outcome either way.
I see where you were going. And you are correct in a way. In OP case, it doesn't get reported to his CR because Chase did not care enough to bother with the reporting to CRA.
I was referring to: Overdraft does not get reported on CR. I was trying to say that it could if the bank wanted to, the banks have the option and at their discretion to do so.
@Remedios is correct. An overdraft is a temporary state; if it is satisfied it is only recorded with reporting agencies like ChexSystems, Telecheck, and Early Warning Systems that specialize in banking transactions.
But in the OP's and your case, you were more than just overdrawn on a bank account. You permanently abandoned the debt and the account, which caused the bank to incur a loss and eventually issue a chargeoff. It is the chargeoff that appears on your credit report, not the overdraft. If the overdraft had been paid back when it first occurred it would never be on a credit report.
Most, if not all, banks have their own in-house collection/recovery units so they don't have to assign or sell a debt to a third-party debt collector for it to be reported to a credit bureau. The reporting can be done by the in-house collections department.
@Remedios is not 100% correct, and if he was replying to the OP case. Then clearly, the OP did abandon the debt, so if Chase had decided to pursue the debt further, it could have been reported to CR.
Again, simply stating: Overdrawn checking would not be reported to CR is not 100% correct. It all depends on what the creditor wants to do with that. Everyone know that temporary overdrawn checking account would never be reported to CR, so repeating that is irrelevant. The OP case clearly stated that he has not paid the debt for years, so it was not a temporary overdrawn situation anymore.
So it all came down to "temporary" overdrawn and permanently overdrawn and the account is closed. Temporary overdrawn checking account would not be reported to CR if repaid before collection activity set in. If the overdrawn continue and the account is closed and collection activity set in, the creditor possibly will report the debt to CR if they wanted to. Either case, they both originated from the overdrawn account, so yes, overdrawn account can be reported to CR depending on the severity of the cases.
You are intentionally being obtuse. "Overdrawn" and "chargeoff" do not mean the same thing but your comments seem to suggest that you think so. So I'm curious, what makes you an expert on this?
When did I said those are the same. I said the overdrawn when not being paid will lead to collection effort, then possibly will lead to reporting to CR depending on creditors and that's a fact. But whatever route it took, it all started with the account being overdrawn. That's a fact.
I never claim I am an expert. I am just speaking using fact and with my own experience. You can claim you are being an expert all you want, but until you can dispute what I said are not true. You are just providing your own opinion without any personal experience.
@Anonymous wrote:UPDATE: I called Chase today and asked about why my last CC application was denied (because I never got a letter). After review she said my Experian score was too low, I had a thin file, and had recently acquired credit eslewhere. That's it. I then told her about my delinquent checking account and she said there was nothing in her system about that. I 100% do have an old delinquent account with Chase, They used to call me every week about it. So it seems that they have a completely separate system and that this does NOT affect credit approvals?
An OD checking account is not considered a credit account and yes they are separate systems. They will not forget that you owe them if you ever open another deposit account with them they will take what is owed from that old account, had it happen to self after they bought out a bank I owed a few bucks to 12 years prior.
Just adding my personal experience with Chase for DP. Had a mortgage that was acquired by Chase when they acquired WaMU. The mortgage went into foreclosure and Chase issued me a 1099-C. Two years later I went in-branch to open a checking account. The representative opening the checking account mentioned the previous foreclosure but still opened the checking account for me. The account was closed by Chase two years later due to OD's and fees. I never paid the account and it was on my Cheksystem and EWS reports. I tried several times to reopen a Chase checking account for the SUB but was always denied. After being on their "blacklist" for 8 years they finally allowed me to open another checking account. I received the SUB and the account has been open about 3 years now with no AA or account abuse on my part. Last year they approved me for 2 co-branded CC's within a 30 day period. YMMV, but sometimes the impossible happens contrary to the norm.
