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Turned down by Chase for checking account :(

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DeeBee78
Valued Contributor

Turned down by Chase for checking account :(

I decided to take advantage of one of the bonus offers for opening a Chase checking account ($300). I had to drive two hours to my closest branch to open the account, because they won't take the coupon online.

I went through the application process, and the banker asked me if I'd ever had problems with checking accounts in the past. Fortunately the answer is no. I've been with Wells Fargo since 2008 (and before that was with Compass Bank) and I've never had any issues with either.

He calls their internal approval people, and after 10 minutes of back and forth, I'm told that I'm not going to be able to open an account "based on information contained in my consumer report(s)" in this case Experian. He hands me a letter stating as much, with Experian's contact information. 

He couldn't tell me what specific reason they denied me and kept telling me I need to call Experian for the answer. I read the letter to him which states Experian is unable to supply specific reasons.

So Chase won't bank with me, and won't tell me why, but they'll give me a $3500 Freedom? Ha!

Side note, does anyone want this $300 checking $200 savings bonus coupon? Doesn't look like I'll be using it.

Message 1 of 7
6 REPLIES 6
vanillabean
Valued Contributor

Re: Turned down by Chase for checking account :(

Message 2 of 7
DeeBee78
Valued Contributor

Re: Turned down by Chase for checking account :(


@My-own-fico wrote:

Is your ChexSystems report clean?

 


Should be, I've had Wells Fargo for almost 8 years now. That and Capital One 360 should be the only things on it. I won't know what's in it until it arrives next week. They don't provide access to it online. 

Message 3 of 7
DaveInAZ
Senior Contributor

Re: Turned down by Chase for checking account :(

That is really strange. I opened a Chase account for the $300 signup bonus in late March and was a bit nervous - Chase was a largest creditor in my 2010 BK7, they lost just under $20k in CC debt on me,  Opening the account was very pleasant, the branch manager herself opened the account (small town branch) and complimented me on the $300 coupon, said she rearely sees one that large. She was taking some time to type things into the computer and I asked "Your not pulling my credit report, right? I'm not applying for credit.". She assured me all she checked was ChexSystem, and all went fine. I know my ChexSytem is fine, if I even do have a file - I've never had an NSF or banking problem in my life. And you even have a Chase Freedom card, if they had pulled my Experian or even their internal records on me and seen those Chase CC BK accounts I doubt if they would have opened a checking account for, especially with that large signup bonus. But, when you're just opening a bank account - and not applying for credit - they should not pull a credit report.

 

Sorry you went to all that trouble and came up short.

Message 4 of 7
sillykitty1
Established Contributor

Re: Turned down by Chase for checking account :(


@DaveInAZ wrote:

That is really strange. I opened a Chase account for the $300 signup bonus in late March and was a bit nervous - Chase was a largest creditor in my 2010 BK7, they lost just under $20k on me,  Opening the account was very pleasant, the branch manager hersel opened the account (small town branch) and complimented me on the $300 coupon, said she rearely sees one that large. She was taking some time to type things into the computer and I asked "Your not pulling my credit report, right? I'm not applying for credit.". She assured me all she checked was ChexSystem, and all went fine. I know my ChexSytem is fine, if I even do have a file - I've never had an NSF or banking problem in my life. And you even have a Chase Freedom card, if they had pulled my Experian or even their internal records on me and seen those Chase CC BK accounts I doubt if they would have opened a checking account for, especially with that large signup bonus. But, when you're just opening a bank account - and not applying for credit - they shouild not pull a credit report.

 

Sorry you went to all that trouble and came up short.


I agree ... unless you asked for overdraft protection on the account, it should be a Chex pull only.  Did you get a inquiry on EX?

 

I'd personally persue this.  I'd first get in touch with the bank manager, and if that doesn't resolve it, I'd esclate to EO.

Message 5 of 7
DaveInAZ
Senior Contributor

Re: Turned down by Chase for checking account :(


@sillykitty1 wrote:

@DaveInAZ wrote:

That is really strange. I opened a Chase account for the $300 signup bonus in late March and was a bit nervous - Chase was a largest creditor in my 2010 BK7, they lost just under $20k on me,  Opening the account was very pleasant, the branch manager hersel opened the account (small town branch) and complimented me on the $300 coupon, said she rearely sees one that large. She was taking some time to type things into the computer and I asked "Your not pulling my credit report, right? I'm not applying for credit.". She assured me all she checked was ChexSystem, and all went fine. I know my ChexSytem is fine, if I even do have a file - I've never had an NSF or banking problem in my life. And you even have a Chase Freedom card, if they had pulled my Experian or even their internal records on me and seen those Chase CC BK accounts I doubt if they would have opened a checking account for, especially with that large signup bonus. But, when you're just opening a bank account - and not applying for credit - they shouild not pull a credit report.

 

Sorry you went to all that trouble and came up short.


I agree ... unless you asked for overdraft protection on the account, it should be a Chex pull only.  Did you get a inquiry on EX?

 

I'd personally persue this.  I'd first get in touch with the bank manager, and if that doesn't resolve it, I'd esclate to EO.


No, I always decline overdraft protection and didn't have an inquiry, if they did a SP 'review' I wouldn't see that until my free annual report. And besides getting the manager's verbal assurance she was not pulling my CR I checked everything I signed carefully to make sure I wasn't authorizing them to pull my CR. Perhaps that's the difference, if DeeBee took the overdraft protection that would be a valid reason to pull a CR, but as she has a Chase Freedom card I doubt if her CR has any serious problems. She said she'll get her EX report next week, hopefully she'll come back and solve the mystery.

Message 6 of 7
Revelate
Moderator Emeritus

Re: Turned down by Chase for checking account :(

Was the Chase bank in a different state than your residence?

 

I'm struggling on understanding this one personally unless you stumbled across something archaic like this, don't think this matters but a financial institution can only conduct basis on a state-by-state basis (which is why so many small banks get bought out historically), not sure how you could get a Freedom and not a checking account unless something is strange.




        
Message 7 of 7
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