cancel
Showing results for 
Search instead for 
Did you mean: 

WTH is up with my ChexSystems????

Valued Contributor

Re: WTH is up with my ChexSystems????

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 Smiley Frustrated

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.

Fico 8: .......EQ 850 TU 850 EX 850
Fico 9: .......EQ 850 TU 850 EX 850
Fico 4 .....:. EQ 809 TU 823 EX 830 EX Fico 98: 842
VS 3.0:...... EQ 835 TU 835 EX 835
Fico 8 BC:. EQ 892 TU 900 EX 900
CBIS: ........EQ LN Auto 940 EQ LN Home 870 TU Auto 902 TU Home 950
Message 11 of 66
Valued Contributor

Re: WTH is up with my ChexSystems????

FWIW -

 

ChexSystem.jpg

Fico 8: .......EQ 850 TU 850 EX 850
Fico 9: .......EQ 850 TU 850 EX 850
Fico 4 .....:. EQ 809 TU 823 EX 830 EX Fico 98: 842
VS 3.0:...... EQ 835 TU 835 EX 835
Fico 8 BC:. EQ 892 TU 900 EX 900
CBIS: ........EQ LN Auto 940 EQ LN Home 870 TU Auto 902 TU Home 950
Message 12 of 66
Moderator

Re: WTH is up with my ChexSystems????


@Thomas_Thumb wrote:

FWIW -

 

ChexSystem.jpg


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

Chase | Citibank | Amex | BofA | PenFed | NFCU | Discover | Barclay's | Fifth Third Bank | BB&T | Synovus | Commerce
Message 13 of 66
Senior Contributor

Re: WTH is up with my ChexSystems????

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.





>
Message 14 of 66
Valued Contributor

Re: WTH is up with my ChexSystems????


@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*

Averse580
Moderate545
Aggressive525

 

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

Fico 8: .......EQ 850 TU 850 EX 850
Fico 9: .......EQ 850 TU 850 EX 850
Fico 4 .....:. EQ 809 TU 823 EX 830 EX Fico 98: 842
VS 3.0:...... EQ 835 TU 835 EX 835
Fico 8 BC:. EQ 892 TU 900 EX 900
CBIS: ........EQ LN Auto 940 EQ LN Home 870 TU Auto 902 TU Home 950
Message 15 of 66
Moderator

Re: WTH is up with my ChexSystems????


@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

 

Chase | Citibank | Amex | BofA | PenFed | NFCU | Discover | Barclay's | Fifth Third Bank | BB&T | Synovus | Commerce
Message 16 of 66
Valued Contributor

Re: WTH is up with my ChexSystems????

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/

Fico 8: .......EQ 850 TU 850 EX 850
Fico 9: .......EQ 850 TU 850 EX 850
Fico 4 .....:. EQ 809 TU 823 EX 830 EX Fico 98: 842
VS 3.0:...... EQ 835 TU 835 EX 835
Fico 8 BC:. EQ 892 TU 900 EX 900
CBIS: ........EQ LN Auto 940 EQ LN Home 870 TU Auto 902 TU Home 950
Message 17 of 66
Senior Contributor

Re: WTH is up with my ChexSystems????

I have a couple of those in the sensitive group. They didn't seem very sensitive. BBVA was no HP at all. Maybe because I already had a CC with them.. I don't know.
I've found many don't use the Chex system. Some SP a certain CB.

I've done that SP so much for bank accounts. I can give the answers before they are asked. The Wells Fargo CSR was amazed I answered the questions before he could finish asking them.😂

Hopefully it's just an address thing CC.




>
Message 18 of 66
Valued Contributor

Re: WTH is up with my 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.

https://www.creditinfocenter.com/community/topic/325881-how-chexsystems-responds-to-bank-inquiries-a...

Fico 8: .......EQ 850 TU 850 EX 850
Fico 9: .......EQ 850 TU 850 EX 850
Fico 4 .....:. EQ 809 TU 823 EX 830 EX Fico 98: 842
VS 3.0:...... EQ 835 TU 835 EX 835
Fico 8 BC:. EQ 892 TU 900 EX 900
CBIS: ........EQ LN Auto 940 EQ LN Home 870 TU Auto 902 TU Home 950
Message 19 of 66
New Contributor

Re: WTH is up with my ChexSystems????

Banking bonuses average about $200 each... Savings accounts don't pull Chex which is good...
Message 20 of 66