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I'm in Chexsystems jail

FettHutt
Frequent Contributor

I'm in Chexsystems jail

Yesterday applied/denied for the $250 checking promo from Bank Of The West because of too many recent inquiries. My first "official" denial since going on this spree. Union Bank closed my acct a month after approval because I had the audacity to open 2 more after them. Will lay low for the coming months until Wells Fargo pops up. I've heard they are not chex sensitive. 

Message 1 of 12
11 REPLIES 11
Remedios
Moderator

Re: I'm in Chexsystems jail

Yup, chasing SUBs has consequences, and it won't get better in a few months. 

When someone says "not sensitive", that's a generalization since it's not quantified. 

They may not be sensitive to 3 inquiries, and the 4th one be deal breaker. 

 

Wells Fargo uses EWS for DDA opening, and the difference between them and Chex is not only reporting opening an account, but also, deposits, withdrawals, average balance, daily balances, closing dates. It makes it a lot easier to spot SUB chaser. 

 

 

Message 2 of 12
Neiltyson
New Contributor

Re: I'm in Chexsystems jail

How many inquiries do you have?

 

I got denied recently for affinity, alliant and signature. 😕

 

I def gottaslow down too but I was able to remove a bunch of the inquiries by disputing chex

Message 3 of 12
FettHutt
Frequent Contributor

Re: I'm in Chexsystems jail

Seven on file but one of them I didn't initiate at all. Will be contacting AOD on Monday!

Message 4 of 12
FinStar
Moderator

Re: I'm in Chexsystems jail

tenor (1) (1).gif

Message 5 of 12
Remedios
Moderator

Re: I'm in Chexsystems jail


@FettHutt wrote:

Seven on file but one of them I didn't initiate at all. Will be contacting AOD on Monday!


I wouldn't call this poking a bear.

This is you stealing a cub while trying to punch momma bear on the nose.

If you want to draw more attention to your account and reason behind the inquiry, a call should do it. 

Message 6 of 12
Brian_Earl_Spilner
Community Leader
Mega Contributor

Re: I'm in Chexsystems jail


@FinStar wrote:

tenor (1) (1).gif


I always loved this gif.

 

fb50000e959ec8568695ee6961e9c988f828e8ee-14.jpg




Message 7 of 12
Credit4Growth
Valued Contributor

Re: I'm in Chexsystems jail


@Remedios wrote:

Yup, chasing SUBs has consequences, and it won't get better in a few months. 

When someone says "not sensitive", that's a generalization since it's not quantified. 

They may not be sensitive to 3 inquiries, and the 4th one be deal breaker. 

 

Wells Fargo uses EWS for DDA opening, and the difference between them and Chex is not only reporting opening an account, but also, deposits, withdrawals, average balance, daily balances, closing dates. It makes it a lot easier to spot SUB chaser. 

 

 


This helps explain what may have caused my approval and then closure of a Checking and saving account with US Bank back in the summer of 2018.  I had already opened PSECU, CHASE, NAVY and I believe a CU local to me  within a 5 or 6 month period with US Bank being the last one.

I was attempting to have a checking account with them then wait a few months before applying for the AR credit card. 😔

 

I was so disappointed back then!  I truly thought things would have gone smoothly due to setting up DD in addition to the fact my paychecks are issued from US bank (my thoughts were that the ease of income and identity verification would push me through the system). 

You win some and you lose some.  I lived through it and learned a thing or two 😋

 

|| DTI 8% || Mortgage Scores: EQ724, Tu694, EX726 ||
Inquiries: EQ/TU/EX (0 / 2 / 1) - 0/6 - 0/12 - 3/24 ||


Next App on the list is ???
Last apps: (2) August 18, 2019
Garden goal - Unknown date, 2021
Going for Sapphire spade - May 18th 2021

Dirty/ Thick/ Aged/
Message 8 of 12
DaveInAZ
Senior Contributor

Re: I'm in Chexsystems jail


@FettHutt wrote:

Seven on file but one of them I didn't initiate at all. Will be contacting AOD on Monday!


DoC lists Bank of the West as Chex sensitive.  I did an account & bonus with them in 2019 when I did 6 bank bonuses, but most were EWS banks. And they have one of the longest restrictions for getting a new bonus, current promo says you can't have received a bonus since 7/1/19, I got mine in Oct. 2019.

Message 9 of 12
lovelife2
New Contributor

Re: I'm in Chexsystems jail

Wow.   I remember way back during early 2000's i was on the baddie Chex, filed bankruptcy after a nasty breakup and ex left me with tons of overdrafts in bank.  I paid them off slowly.  Ugg.     Now i am gonna go pull my Chex and EWS as i did open 5 or 6 savings/checking accounts (bonus sign up) this pasts 12 months, but i havent received any denials.  Alliant CU didnt reject me recently, Capital One,  WF, Discover, Marcus nor Ally. 

 

Odd thing happened recently:

I re-opened my Alaska USA CU checking account last week (dumping WF) and needed to clear the background, which is fine, and I remember the guy asking simple questions and then he asked "what was the last check you wrote", i was like what?...he said yeah need to verify you, since i opened account over the phone.   I logged into my WF checking and told him Bank, $***/check number# **** (yearly HOA), and he said that is correct, my account opened within 5 min online.   What was weird is check cleared WF Jan 15.  I re-opened my Alaska CU checking Jan 20, how would he have known that so quick, and I never questioned it.   Later i started researching cause it was driving me crazy how it reported so fast (just 5 days).   I logged into WF and saw that my bank statement closed Jan 19 for the month, and just that fast its in EWS (1 day).   

 

I remember having 2 overdrafts last year, cause i paid 2 bills from wrong account, paid the fees, as i forget to move $$ from savings to checking, as i dont do overdraft protection and dont link in case stolen.  i keep plenty in savings, not much in checking after bills all clear, and i still got approved and no denials.

 

I knew about Chex and assumed WF dumped it there, but didnt think Chex did that level of detail, so i kept digging and found out about EWS, as i had never heard of it up until 3 days ago and the detail banks give them, WF just dumps everything there.    jeez  - scary  Smiley Mad

 

 

 

Message 10 of 12
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