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

Community Leader
Super Contributor

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

Depending where you live, comes in many different flavors...Rice, Honey, WheatSmiley Wink
Message 11 of 16
Established Contributor

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


@tcbofade wrote:

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


You, too, can get your own copy for free (once a year!). I lied about mine being essentially blank - it did show 2 inquiries for accounts I had opened, otherwise it was blank. Smiley Wink 

 

Did you know you can freeze your ChexSystems report too?

Garden Club Member since 11/26/2018
Message 12 of 16
Established Contributor

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


@AverageJoesCredit wrote:
Depending where you live, comes in many different flavors...Rice, Honey, WheatSmiley Wink

Totally OT - but I've never actually had Chex in anything but Chex Mix and Puppy Chow. Smiley Very Happy

Garden Club Member since 11/26/2018
Message 13 of 16
Valued Contributor

Re: ChexSystems, what are they and why do they hate me? [UPDATE]

OK got my report today.....NOTHING wow, lists my current and previous address, no info on mostly everything, but under pulls about 15 things Alliant CU 4 PULLS and some pulls for car purchases other than that just savings accounts ALLY Bank, CIT Bank, VyStar again for them a car loan....so not sure why my score is low or why Schwab was scared. Called Schwab and they said bank side is quirky like that, BUT set me up with a "plain brokerage account" that has checks and debit card attached....not sure what the difference here is cause that is all I wanted in the first place so alls well that ends well....Thank you all for your comments and advice.....

Message 14 of 16
Valued Contributor

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


@odd_dog wrote:

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? ....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.....


Wow! - you have a freakishly low score. Your profile must be activating ALL the panic buttons. Seriously, I have never seen a sub 500 score let alone a score of 261. Take a look at the below table. A 261 is bottom of the bottom tier. What have you done?

 

Alternate credit score.jpg

Ok - here are some things to look for:

1) Was your SSI entered incorrectly? If the SSI # does not match name it's a fraud red flag.

2) Do you have multiple addresses under your name or a lot or recent address changes? This suggest someone that may be evasive.

3) Have you opened a few checking and/or savings accounts recently? This is a fraud alert and possibly suggests money laundering.

4) Have you bounced a check in the last 5 years?

 

Your credit score is fine but, ChexSystem has tagged you as untouchable.

 

Check out the below links to prior posts.

https://ficoforums.myfico.com/t5/Personal-Finance/WTH-is-up-with-my-ChexSystems/m-p/5289851#M24638

https://ficoforums.myfico.com/t5/Personal-Finance/WTH-is-up-with-my-ChexSystems/m-p/5289950#M24651

https://ficoforums.myfico.com/t5/Personal-Finance/WTH-is-up-with-my-ChexSystems/m-p/5290347#M24678

 

 

Fico 8: .......EQ 850 TU 850 EX 850
Fico 9: .......EQ 850 TU 850 EX 850
Fico 4 .....:. EQ 809 TU 823 EX 830 EX Fico 98: 842
VS 3.0:...... EQ 835 TU 835 EX 835
Fico 8 BC:. EQ 892 TU 900 EX 900
CBIS: ........EQ LN Auto 940 EQ LN Home 870 TU Auto 902 TU Home 950
Message 15 of 16
Valued Contributor

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


@Thomas_Thumb wrote:

@odd_dog wrote:

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? ....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.....


Wow! - you have a freakishly low score. Your profile must be activating ALL the panic buttons. Seriously, I have never seen a sub 500 score let alone a score of 261. Take a look at the below table. A 261 is bottom of the bottom tier. What have you done?

 

 

 

 


LOL THAT Tom, is WHAT I am trying to find out....unfortunately the "inquires" on this report have also recently GRANTED me loans so not quite sure what the fuss is all about...SS is right, addresses are right although both of them show up 3 times each....everything else is no info...so beats me "what I did" I lived live, I guess that pisses off ChexSystems....LMAO

This is the first time EVER I was turned down for anything because of this agency, even all the inquires they show - ALL have opened an account or given me the loan......kinda strange......kinda funny (ONLY because I got what I wanted in the end). Go figure.... 

Message 16 of 16