AOD with charge off from ChexSystems?

[J0hnD0nuts]

I'm very interested in the AOD credit union and Visa Signature card (obviously) but I just looked up my ChexSystems and found an old charge off from a joint account from Nov. 2017. I know they fall off after 5 years but will AOD deny me membership just for that? Should I wait until it falls off?

[CreditCuriosity]

I would speculate you are going to have to make the bank whole that you had charge-offs against and pay them before AOD will let you in as the main purpose of Chex's is to make lenders aware when you have burnt another lender by overdrafting your account or other such actions so it doesn't possibly happen to them just like traditional CRA's EQ/TU/EXP make lenders aware of good/bad credit to make their decisions on credit.  Long story short I dont think they will let you on with that on report either possibly pay it or wait for it to fall off.

[Anonymous]

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@J0hnD0nuts wrote:

I'm very interested in the AOD credit union and Visa Signature card (obviously) but I just looked up my ChexSystems and found an old charge off from a joint account from Nov. 2017. I know they fall off after 5 years but will AOD deny me membership just for that? Should I wait until it falls off?

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If you are on Chexsystems there is a 99% chance they will not open up an account for you.  You'll have to find a bank/credit union that does not use them or just wait the 5 years