Denied Penfed Checking?

[Anonymous]

After reading about all of the great things about Penfed, I decided to try a checking account with them first because my scores are too low for any of their other services.

I was denied for their regular checking account...which I thought is really weird? I have no collections, no BK, current on all my accounts for over 6 months. Only baddies are past lates.

But, I guess you must have to be a member of the 700 club just to get a checking account with them! Ha! Too rich for my blood...

I'll stick w/my local CU.

[Anonymous]

Do you have a ChexSystems record?

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Elexi21 wrote:
After reading about all of the great things about Penfed, I decided to try a checking account with them first because my scores are too low for any of their other services.

I was denied for their regular checking account...which I thought is really weird? I have no collections, no BK, current on all my accounts for over 6 months. Only baddies are past lates.

But, I guess you must have to be a member of the 700 club just to get a checking account with them! Ha! Too rich for my blood...

I'll stick w/my local CU.

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[Anonymous]

You probably have an 'NSF' on file with ChexSystems, meaning you had a check that bounced on a prior checking account.

Ask PenFed why (they'll tell you) and you can also call ChexSystems.

You'll have to pay the amount of overdraw, and then find a bank that will be understanding. I had the same problem, managed to get an HSBC account with a friendly teller. Also ChexSystems has a list of banks that do NOT check with them for new accounts.

[Red1Blue]

When my scores are around low 500's last June or so, I tried to open a checking account with SharonView Credit Union. They said I can not open a Checking Account with them until my scores are around 600. That is their min to open a checking account. I did not have problem opening Checking account with Service Credit Union and DCU. I am not surprised if they said not you. Try a different CU.

[Anonymous]

Nope, no Chexsystems. I very recently ordered my free report from them and it is clear.

[llecs]

It's your EQ score. Same happened to me when my score was at 608 back in September. I had already mailed a $100 to fund the account when I received a rejection letter. They stated that they cannot open a checking at that time due to info found in my EQ report. They held on to the money for a while and eventually put it into a share account, where it sits today.

[Anonymous]

Thanks, good to know. I can get checking anywhere so it's not like a need it, just wanted to start a relationship with them.

No biggie, just never heard of anyone denying checking based on your credit score.