First Republic Bank ChexSystems for Line of Credit

[Anonymous]

I have a paid off debt on my Chex and my ChexSystems report is locked currently!

Has anyone tried to get a line of credit with these guys when having their Chex report locked?

and do you have any other bank in mind with Line of Credits above $60k that I can go for with my Chex Locked?

Thanks

[ccquest]

Not sure on that, but make sure you're in the service area. Down here, they only service one county and if you're outside of that...you're out of luck. I wanted to use them for my student loan refinance originally.

[Anonymous]

you can always use mailboxes to move yourself from state to state or county to county.

I only had complication with WellsFargo for getting a biznes checking account with a MailBox, the auditor actually checked my address on google map and funny thing is I was fighting with him over there phone that how do you know I don't own the building lol.

I was fighting like a saprtan... never retreat never surrender

So it's a free shot.

FRB is a big time student loan refinancer, but I think they won't be cool with ppl who just want the line for the sake of the line and have no debt, they rather want you to have debt specially studnet loan.

I have 810 score with no debt, and I am expecting a denial lol

I literally wanna get that line for when the opportunity opened up to invest.

I was lucky enough to get my Master spending close to 0, other than student union fee lol

[ccquest]

I'm sure you saw the details on their page, but it definitely has a "not for speculative purposes" type blurb on it to discourage you using it solely for investing.

That said, money is fungible so you use the LOC to pay your rent and use your rent money to invest instead!