ChexSystems Score of 9999…

[ThomasJNewton]

As I do periodically, I checked my ChexSystems report. It showed various inquiries (all seemed reasonable), no check orders (makes sense as I always just print my own checks using black check stock, as I do not print enough to ever finish a box and do not want stacks of them), and no bounced checks. This time I noticed that one could get a credit score from them, with a range of 1-899. Curious, I checked mine and discovered that it was 9999, which seems to mean they do not have enough information to issue one for me. I have checking (draft) accounts with: Alliant FCU, California and North Island FCU, FirstTech FCU, NASA FCU, Navy FCU, and PenFed, all of which have been open for at least 2 years, with First Tech and NFCU being over 6 and 9 years respectively).

I could not find any information on their site that explains what goes into a score, so I cannot figure out why I do not have one. :-)

Curious if anyone knows anything about them and their scoring process.

[GZG]

so you were able to pull an accurate online report with your recent openings inquries on it, but when they mailed you the score, they mailed you a score of 9999? 

[ThomasJNewton]

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@GZG wrote:

so you were able to pull an accurate online report with your recent openings on it, but when they mailed you the score, they mailed you a score of 9999? 

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There is no space in the report for a section of recent openings. The sections in their reports are:

1. Personal information (Names and addresses).
2. Reported information (information on closed accounts).
3. Inquires viewed by others.
4. Inquires viewed by you.
5. Retail information (checks approved or bounced).
6. History of checks ordered.
7. Social Security Number validation.

All the information on address and names is correct. It shows no checks ordered (correct), no retail information (have not written a check to a retailer in years), and no closed accounts.

[GZG]

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@ThomasJNewton wrote:

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@GZG wrote:

so you were able to pull an accurate online report with your recent openings on it, but when they mailed you the score, they mailed you a score of 9999? 

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There is no space in the report for a section of recent openings. The sections in their reports are:

1. Personal information (Names and addresses).
2. Reported information (information on closed accounts).
3. Inquires viewed by others.
4. Inquires viewed by you.
5. Retail information (checks approved or bounced).
6. History of checks ordered.
7. Social Security Number validation.

All the information on address and names is correct. It shows no checks ordered (correct), no retail information (have not written a check to a retailer in years), and no closed accounts.

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I can't imagine why an account with your inquries on it would be unscorable, only thing I can think of is that your request for your score had incorrect information on it somehow 

[FireMedic1]

" A 9999 code means there's not enough information available about your banking history to generate a score."

https://www.mybanktracker.com/checking/faq/good-chexsystems-qualifile-score-276348 

[Thomas_Thumb]

I got my ChexSystems credit report and consumer report in the mail a few years back. The ChexSystems Consumer score range was listed as 100 - 899

The credit report under Reported Information says: "no information found" for inquiries, retail information and history of checks ordered. The credit score report only says "insufficient data found" - so no true score.  I got the "9999" as well. No new checking or bank accounts since 2005. No address changes since then. Last phone # change was 2008

I do know they look at last 5 years of credit history with a focus on frequency of banking/checking account openings, bad/bounced checks, frequency of address/phone number changes. Basically is the person stable or do they pose a default and flight risk.

ChexSystems provides certain “cutoff” segments from which banks can choose based on the level of risk they’re willing to tolerate. Each bank can decide for itself which specific segments and scores correspond with account approval and rejection. If a bank wants to tolerate a moderate amount of risk, for instance, it will approve applicants with a ChexSystems score of 545 or higher and either reject or at least consider applicants with a lower score. [from - https://wallethub.com/edu/chexsystems-score/13318/#mehrsa-baradaran]

Risk Level	Cutoff Score*
Averse	580
Moderate	545
Aggressive	525

*Cutoff scores are effective as of March 1, 2012.

Your ChexSystems score is based on information from the following sources:

• ChexSystems consumer report

• Data from the ChexSystems DebitBureau (a database that includes information gathered from banks and from retailers)

• Consumer credit report from the major credit bureaus
• Payday loan history

• Employment history

• Public records data from LexisNexis (e.g., residential history, bankruptcy filings and criminal history)

Here is a link to an earlier post that may provide additional insight,:

https://ficoforums.myfico.com/t5/Personal-Finance/Clean-ChexSystem-amp-Denied/m-p/5323422#

I came across the below table some years back. It indicates about 45% of the population classifies as 9999.

[ThomasJNewton]

The more I read about it, the more bizarre their scoring system is. A person with no open accounts, a brand new address and a recent social security number gets the same score as someone with an address with 25 years of history, many accounts, no bad checks and/or retail inquires and no checks ordered.

[donkort]

I'm a 9999.

[hdporter]

It's simple ... if no one has reported info or pulled an inquiry in the last couple of years, you're 9999. (Unrated)

[donkort]

That's good news for me😊