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I ordered my report and score at the same time last year. I think it took 1 to 2 weeks to get the reports The report was free but, I had to pay for the "no score" score
1) It's the summary report that lists no information available.
2) It's the score report that says insufficient data.
From what I read about CS, it appears that the primary focus is negative info. So never having a negative event might translate to not being in their system. However, I read that ordering checks is an event that is often communicated to CS.
Side note: . I have not opened up any new personal checking or saving accounts in over 12 years. I read that ChexSystems retains data for five years. If so, lack of new account activity might be another reason for "no information available"
Regardless, being unscoreable and invisible does not appear to be a bad thing in my case.
@Dinosaur - Regarding Wells Fargo, they are on a list of banks that don't limit checking account approval due to an unfavorable CS score (they have something called a 2nd chance program). They do, however, use ChexSystems.
FWIW -
@Thomas_Thumb wrote:FWIW -
I expect and hope to see only inquiries there as that is all "I" have done. I suppose reordering checks as well.. Just did an order today with PenFed with my new address, but several other entries will be on there as well
I checked mine last year. There was nothing on it. I had opened more than 15 accounts in a two year period at that time. I've only been blocked once in the last 2.5 yrs and that was Blue FCU. The other 20 plus could care less. lol
I've opened three in the last 3 weeks. Must be something else CC.
@Gmood1 wrote:I checked mine last year. There was nothing on it. I had opened more than 15 accounts in a two year period at that time. I've only been blocked once in the last 2.5 yrs and that was Blue FCU. The other 20 plus could care less. lol
I've opened three in the last 3 weeks. Must be something else CC.
You've opened that many checking, debit card and savings accounts? Hmm.
Credit card accounts and loans are not part of ChexSystems database. The CS report and score are primarily used for fraud risk analysis. They are not credit worthiness focused.
"ChexSystems provides certain “cutoff” segments from which banks can choose based on the level of risk they’re willing to tolerate. Each bank can decide for itself which specific segments and scores correspond with account approval and rejection. If a bank wants to tolerate a moderate amount of risk, for instance, it will approve applicants with a ChexSystems score of 545 or higher and either reject or at least consider applicants with a lower score."
https://www.perfectfinances.com/chexsystems-score
Risk Level Cutoff Score*
Averse | 580 |
Moderate | 545 |
Aggressive | 525 |
Check out the below link to a quiz for Red Flag and ID theft training:
https://www.proprofs.com/quiz-school/story.php?title=untitled-quiz_2216
@Gmood1 wrote:I checked mine last year. There was nothing on it. I had opened more than 15 accounts in a two year period at that time. I've only been blocked once in the last 2.5 yrs and that was Blue FCU. The other 20 plus could care less. lol
I've opened three in the last 3 weeks. Must be something else CC.
Yes that is what scares me.. Hopefully it is the move that threw off the score and rose the risk score of fraud?? That is my hope!! As I am at a lost for words unless someone got my old checking account checks that i close long ago and tore up and threw away during move, but that account has been closed 4+ years so surely they werent honored anywhere.. Guess the report will show if something is astray or not... As stated i would of heard from said merchant/bank/ca by now so no frigging clue other than move that is causing me this huge headache i am about 15 as well proably in the last few years... gotta get my bonuses lol. My checking account balance has not been less that 10k with penfed my primary CU ever... So certainly no bounced checks from there. The old accounts are what scares me that i have closed and tore the checks up etc if someone got ahold of those but as stated those accounts were closed so no way should be honored.. I am just freaking myself out more and more of what is probably a simple thing such as address
Below is a link to various banks and their sensitivity to info in ChexSystems reports.
http://www.hustlermoneyblog.com/what-is-chexsystems/
Here is a link to a list of banks that have account options that do not use ChexSystems:
https://smartfinance101.com/banks-that-dont-use-chexsystems/
@CreditCuriosity wrote:
@Gmood1 wrote:I checked mine last year. There was nothing on it. I had opened more than 15 accounts in a two year period at that time. I've only been blocked once in the last 2.5 yrs and that was Blue FCU. The other 20 plus could care less. lol
I've opened three in the last 3 weeks. Must be something else CC.
Yes that is what scares me.. Hopefully it is the move that threw off the score and rose the risk score of fraud?? That is my hope!! As I am at a lost for words unless someone got my old checking account checks that i close long ago and tore up and threw away during move, but that account has been closed 4+ years so surely they werent honored anywhere.. Guess the report will show if something is astray or not... .. I am just freaking myself out more and more of what is probably a simple thing such as address
It's likely the address change. That's often a trigger for fraud risk. Refer to the episode detailed in the below link.