Citizens Bank declined a checking account due to “Credit Information Services”

[User456]

Hi everyone,

Credit was destroyed by the Equifax breach and I'm still hoping to get some settlement money (lol not holding my breath); anyhow I know I have a clean Chexsystems report but today I tried to open an account online at Citizen's Bank and I was declined due to reporting from "Credit Information Services". This was a personal, not business, checking account. Not sure how this happened. What - exactly - is "Credit Information Services"? Why doesn't the bank have to tell you what bureau / exactly what service they used?

[Yawgoog]

People have been searching for "Credit Information Services," but found nothing; you might have to call Citizens to find out.  This problem seems to come up when frequently applying for sign-up bonuses:

https://www.doctorofcredit.com/ct-de-ma-mi-nh-nj-ny-oh-pa-ri-vt-citizens-bank-400-checking-bonus-2/#...

[CorpCrMgr1]

Sorry that Citizens wouldn't open an account for you. I'd definitely pursue the reason.

[CreditCuriosity]

Did you have your equifax credit report frozen as could be cause as believe they SP that as well as Chexs/EWS.  When I applied made sure EQ and Chex were not frozen and instant approval with quite a few chexs inquiries in the last year and online and instant approval.

[Captainrondetroit]

Did you ever find out what was going on?

I dont have any issues with my credit reports ficos high 600's to low 700's. Clean chex systems. No locks, freezes. 2 months ago I opened a business account with Citizens in a branch and just tried to open a personal account online and was denied due to information from credit information services. I called Citizens and was told they dont have a copy of any credit reports attached to my application. Citizens said it looked like I have a freeze in place, but I do not. I checked my Equifax account online, no freeze.  I called Equifax, spoke to a rep and she told me there is not a freeze on my file. I guess I will have to go  to a branch and find out what is going on. 

[FicoMike0]

Do you have a Chex freeze?

[SouthJamaica]

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@User456 wrote:

Hi everyone,

Credit was destroyed by the Equifax breach and I'm still hoping to get some settlement money (lol not holding my breath); anyhow I know I have a clean Chexsystems report but today I tried to open an account online at Citizen's Bank and I was declined due to reporting from "Credit Information Services". This was a personal, not business, checking account. Not sure how this happened. What - exactly - is "Credit Information Services"? Why doesn't the bank have to tell you what bureau / exactly what service they used?

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I believe they're required to send you a letter telling you what bureau(s) they relied upon.

[IsambardPrince]

Seek ongoing value in a bank, not SUBs.

Being punished by credit card companies for SUB hunting isn't as severe as being cut off from banking, and with a good bank you can make "a SUB every 6 months" out of the interest.

Sleep and buy CDs. They're easy, boring, predictable, and don't piss off the bank.

Literally all you need to do is build a ladder of High Yield CDs and watch your money roll in risk free.

Of course this really only benefits you if you don't owe any interest-bearing debt because yours will be higher than bank interest. So pay off your interest-bearing debt and then make a CD ladder.

[FicoMike0]

I'm closing my citizens account. Maybe that will free one up.

[IsambardPrince]

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@FicoMike0 wrote:

I'm closing my citizens account. Maybe that will free one up.

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ChexSystems also logs account closings.