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Still getting denied after cleaning my consumer record with chex systems and ews

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Anonymous
Not applicable

Still getting denied after cleaning my consumer record with chex systems and ews

Hi all, I really need some help. I have been trying to apply for a small business checking account for my LLC. Last year I applied to several banks, but got denied because I had a some ID thief that fraudulently opened an account with Bank of America in 2015. I disputed with it recently and got it cleared from the BofA as well as chex systems and early warning. I confirmed this with updated consumer reports. I reapplied to banks last week and still got denied. Of course the banks and reporting agencies say they cant give info. Anyone have any idea why i might still be getting rejected?

Message 1 of 11
10 REPLIES 10
ChazzieT
Frequent Contributor

Re: Still getting denied after cleaning my consumer record with chex systems and ews

Are these banks you had applied with before cleaning up your record? Sometimes, if it's recent enough, banks will re-use a previous pull.

Message 2 of 11
ChazzieT
Frequent Contributor

Re: Still getting denied after cleaning my consumer record with chex systems and ews

And "recent enough" can vary greatly from FI to FI.

Message 3 of 11
M_Smart007
Legendary Contributor

Re: Still getting denied after cleaning my consumer record with chex systems and ews


@Anonymous wrote:

Hi all, I really need some help. I have been trying to apply for a small business checking account for my LLC. Last year I applied to several banks, but got denied because I had a some ID thief that fraudulently opened an account with Bank of America in 2015. I disputed with it recently and got it cleared from the BofA as well as chex systems and early warning. I confirmed this with updated consumer reports. I reapplied to banks last week and still got denied. Of course the banks and reporting agencies say they cant give info. Anyone have any idea why i might still be getting rejected?


I would suggest taking your cleared documentation into a branch and speak with a branch manager if possible?

or search for banks that do not use ChexSystems/EWS?

 

Message 4 of 11
SouthJamaica
Mega Contributor

Re: Still getting denied after cleaning my consumer record with chex systems and ews


@Anonymous wrote:

Hi all, I really need some help. I have been trying to apply for a small business checking account for my LLC. Last year I applied to several banks, but got denied because I had a some ID thief that fraudulently opened an account with Bank of America in 2015. I disputed with it recently and got it cleared from the BofA as well as chex systems and early warning. I confirmed this with updated consumer reports. I reapplied to banks last week and still got denied. Of course the banks and reporting agencies say they cant give info. Anyone have any idea why i might still be getting rejected?


They have to send a letter to you giving a reason for denial of the account.

 

That letter will probably give you a good clue as to what you need to do next.

 

Part of your problem may be that you reapplied to "banks" rather than to a single bank. A flurry of applications will get you denied at most institutions.


Total revolving limits 741200 (620700 reporting) FICO 8: EQ 701 TU 704 EX 685

Message 5 of 11
debts
Valued Member

Re: Still getting denied after cleaning my consumer record with chex systems and ews


@SouthJamaica wrote:

@Anonymous wrote:

Hi all, I really need some help. I have been trying to apply for a small business checking account for my LLC. Last year I applied to several banks, but got denied because I had a some ID thief that fraudulently opened an account with Bank of America in 2015. I disputed with it recently and got it cleared from the BofA as well as chex systems and early warning. I confirmed this with updated consumer reports. I reapplied to banks last week and still got denied. Of course the banks and reporting agencies say they cant give info. Anyone have any idea why i might still be getting rejected?


They have to send a letter to you giving a reason for denial of the account.

 

That letter will probably give you a good clue as to what you need to do next.

 

Part of your problem may be that you reapplied to "banks" rather than to a single bank. A flurry of applications will get you denied at most institutions.


what do we call a " flurry of applications" ?

2 bank apps in a week/month/year?

6 chexsys inquiries within a 6 month period

 

I have the following & wonder if i will be approved with Chexsys banks? i need CU for auto refinancing in August/Sep 2020. DCU or RBFCU is my preference for auto refinance.

is that a flurry of apps for chexsys.

05/30/2020; BECU inquiry; no approval. 
03/2019 ; FT FCU inquiry; Auto loan inquiry. 

02/2018 ; SDFCU inquiry
12/27 & 12/28 2017 FT FCU inquiry

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6/18/15

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Message 6 of 11
Anonymous
Not applicable

Re: Still getting denied after cleaning my consumer record with chex systems and ews

No but did you check TeleCheck? Some institutions use them instead of chexsystem or EWS.
Message 7 of 11
Brian_Earl_Spilner
Credit Mentor

Re: Still getting denied after cleaning my consumer record with chex systems and ews


@debts wrote:

@SouthJamaica wrote:

@Anonymous wrote:

Hi all, I really need some help. I have been trying to apply for a small business checking account for my LLC. Last year I applied to several banks, but got denied because I had a some ID thief that fraudulently opened an account with Bank of America in 2015. I disputed with it recently and got it cleared from the BofA as well as chex systems and early warning. I confirmed this with updated consumer reports. I reapplied to banks last week and still got denied. Of course the banks and reporting agencies say they cant give info. Anyone have any idea why i might still be getting rejected?


They have to send a letter to you giving a reason for denial of the account.

 

That letter will probably give you a good clue as to what you need to do next.

 

Part of your problem may be that you reapplied to "banks" rather than to a single bank. A flurry of applications will get you denied at most institutions.


what do we call a " flurry of applications" ?

2 bank apps in a week/month/year?

6 chexsys inquiries within a 6 month period

 

I have the following & wonder if i will be approved with Chexsys banks? i need CU for auto refinancing in August/Sep 2020. DCU or RBFCU is my preference for auto refinance.

is that a flurry of apps for chexsys.

05/30/2020; BECU inquiry; no approval. 
03/2019 ; FT FCU inquiry; Auto loan inquiry. 

02/2018 ; SDFCU inquiry
12/27 & 12/28 2017 FT FCU inquiry


I applied for 3 accounts in one month. Approved for 2 of 3, including DCU who was the last.

    
Message 8 of 11
core
Valued Contributor

Re: Still getting denied after cleaning my consumer record with chex systems and ews


@debts wrote:

is that a flurry of apps for chexsys.

05/30/2020; BECU inquiry; no approval. 
03/2019 ; FT FCU inquiry; Auto loan inquiry. 

02/2018 ; SDFCU inquiry
12/27 & 12/28 2017 FT FCU inquiry


Nah, that's certainly not a flurry of Chex INQs by anyone's definition except maybe Charles Schwab.  Looks very reasonable to me.  You could try disputing the 12/27 FT FCU's as duplicates but they are so old I'm not sure I'd bother.

 

I have a good example of a flurry of Chex pulls:  12 inquiries over the course of 9 days.  I was rather ticked off because I "only" applied for 10 accounts but received 12 INQs.  Axos bank duplicate pulled me on two different accounts for a total of 4 INQs from them.

 

All of those accounts got opened eventually, too! (with some trouble, I might add)   Except Schwab closed mine days later.  Stingy Schwab.

Message 9 of 11
coldfusion
Community Leader
Mega Contributor

Re: Still getting denied after cleaning my consumer record with chex systems and ews


@core wrote:

@debts wrote:

is that a flurry of apps for chexsys.

05/30/2020; BECU inquiry; no approval. 
03/2019 ; FT FCU inquiry; Auto loan inquiry. 

02/2018 ; SDFCU inquiry
12/27 & 12/28 2017 FT FCU inquiry


Nah, that's certainly not a flurry of Chex INQs by anyone's definition except maybe Charles Schwab.  Looks very reasonable to me.  You could try disputing the 12/27 FT FCU's as duplicates but they are so old I'm not sure I'd bother.

 

I have a good example of a flurry of Chex pulls:  12 inquiries over the course of 9 days.  I was rather ticked off because I "only" applied for 10 accounts but received 12 INQs.  Axos bank duplicate pulled me on two different accounts for a total of 4 INQs from them.

 

All of those accounts got opened eventually, too! (with some trouble, I might add)   Except Schwab closed mine days later.  Stingy Schwab.


If you were 10 for 10 in opening accounts, well, 9 for 10 since Schwab circled back and closed theirs, over a 9 day stretch you should probably consider yourself fortunate and that warrants a congrats.   Smiley Happy   I'm not surprised you had some trouble.

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Message 10 of 11
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