ChexSystems, what are they and why do they hate me?

[odd_dog]

Hello MFer's!! Question for those in the know, what is ChexSystems, and anyone with experience, how do I deal with them? Short story, applied for a Schwab checking/brokerage account denied (!???) due to ChexSystems score 261 out of 100 to 899....Key factors....Previous debit Inquirey History, Insufficient debit history, Multiple debit inquiries, Recent debit inquiry activity AND chex inquiries may have adversely impacted the score....Schwab also pulled experian, which is currently at 758. So anyone have ANY idea what all that means? I did a quick search here and looks like this is tied only to checking accounts, like if you open a bunch for SUB....NOT me, I have US bank, BOA, DCU and Chase, most I have had for many years US Bank is the newest at over a year rest more than 7 years, I use them, I rarely write out checks, online everything. Not understanding why - 1, my score is so low, and 2 what all the debit stuff means. I requested a report from this company but wow......Any light you could shed on this to help me understand would be greatly appreciated, I never had something like this happen for a checking account.....

[tcbofade]

No idea.  Generally, chexsystems is used to avoid opening accounts for those that write hot checks. 

Maybe you simply have too many checking accounts? 

[Remedios]

Any recent address changes?

This thread has some interesting info in it
https://ficoforums.myfico.com/t5/Personal-Finance/WTH-is-up-with-my-ChexSystems/m-p/5289348#M24623

[odd_dog]

---

@Remedios wrote:
Any recent address changes?

This thread has some interesting info in it
https://ficoforums.myfico.com/t5/Personal-Finance/WTH-is-up-with-my-ChexSystems/m-p/5289348#M24623

---

So nice to see you out of the "garden"!  Yes I did move to FL a year ago December, I did see that thread, but what has me confused is all the debit stuff.....just a note Reme....AMEX does not treat people like this!!  

[tcbofade]

---

@odd_dog wrote:

---

@Remedios wrote:
Any recent address changes?

This thread has some interesting info in it
https://ficoforums.myfico.com/t5/Personal-Finance/WTH-is-up-with-my-ChexSystems/m-p/5289348#M24623

---

So nice to see you out of the "garden"!  Yes I did move to FL a year ago December, I did see that thread, but what has me confused is all the debit stuff.....just a note Reme....AMEX does not treat people like this!!  

---

[Remedios]

They let me out for about 5 min each day, then I have to go back in

[Ardecko]

---

@Remedios wrote:
They let me out for about 5 min each day, then I have to go back in

---

And free lotion!

It rubs the lotion on it's skin, it does this whenever it's told.

[odd_dog]

Totally off topic BUT funny nonetheless!!!

[iheartwings]

ChexSystems is a credit reporting bureau specifically with information regarding checking, savings, and some credit accounts. 

You can go to ChexSystems.com and get your free report (actually, should be able to get a free report because you weren't able to open up your Schwab acocunt). The score is something like $11. 

From what I understand, information can be held up to 5 years and include details about bounced checks, debts, fraud, past fees and charges that haven’t been paid. 

I recently got mine, and it was a whole lot of nothing. Multiple headers without any information under each.

Would recommend you getting a copy of your report and dispute errors. 

[tcbofade]

Please DO let us know what you find out when you get the report... I'm curious too...