Just applied for a Chase checking account online and was denied, and this, of course was my first stop.
I was ready to read the riot act to whoever answered the phone when I called over there, but then I realized that yes, I had frozen my Experian report just the other day. So that has to be it. Some additional research has shown me that while they do not necesssarily require a hard or soft pull they are using information in our reports to verify our identities. Not sure why they wouldn't be able to use Lexis Nexis or something, but so be it. I'll wait for the letter to come in the mail.
As long as you decline Overdraft Protection they have no permissible purpose to pull your credit report. I opened a Chase checking account in Jan, 2018 for a new account bonus and all my credit reports were locked since the EQ data breach in Sept. 2017. This was the 2nd Chase account I've opened in the past 2 years for a new account bonus, and I make darn sure they can't pull any of my credit reports because I included a couple Chase CCs in my 2010 BK7 so that would a pretty good reason to deny me opening account.
But I opened & closed my accounts in person at a branch, and expatCanuck who started this thread said he was denied opening an account online but had no problem at a branch, so it's possible you're being denied opening an account online because they can't verify your identity. Stop by a branch and try it, with plenty of ID.
This is in fact exactly what happened. I went into a branch and applied, no probs whatsoever. I'm curious though when you say it was the second Chase account that you had opened in, wouldn't they already have all that info on you still on file? A credit freeze or lock doesn't stop someone with whom you already have a relationship from checking your credit -- not sure if that continues even after you close your account with them. I have never had a Chase product of any kind, so I was a relatively clean slate to them.
I was rather dismayed however that the business banker behind the counter tried to tell me that business credit cards do not fall under the 5/24 rule and that in many cases they don't even pull personal credit reports to approve people. And he was wearing a pin that said ten years of service, which was all the more frightening.
All in all, Chase may have some good products out there, but man, all the hoops they make you jump through to get to them might just not be worth it.
@Achieving"the second Chase account that you had opened in, wouldn't they already have all that info on you still on file?"
- You would think so, especially since Chase used to not allow a new account bonus if you had and account within the past 12 months, now within 24 months according to Doctor of Credit. And the branch I opened both accounts at is in a small city with less than 10k population, but when I opened the second account they had no record of my previous account. But, checking my Quicken I opened the 1st account in March 2015 and the 2nd in Jan. 2018, so apparently they purge records after a certain amount of time.
@Achieving"A credit freeze or lock doesn't stop someone with whom you already have a relationship from checking your credit"
- An existing creditor, yes. With all 3 of my reports locked my existing creditors can still access my report and provide me Fico score. But not previous creditors with account closed, and not a bank or credit union where I don't have any credit accounts, only checking or savings with no overdraft protection service, as those are not credit accounts.
And yes, Chase makes you jump though hoops and I don't care for them, I close my accounts after the 6 months requirement to keep the bonus. On my 2nd account I tried a $2k ACH pull from a verified external account and promptly got my online access suspended and had to call in. The rep wanted to call the other bank to verify I was the owner of the account, while I stayed on the line. I told her No thanks, just cancel the transfer. She did, I got my online access back, and then I just pushed the transfer from the other bank to Chase.
I was rather dismayed however that the business banker behind the counter tried to tell me that business credit cards do not fall under the 5/24 rule....
I am guessing that he meant most business cards do not fall under the 5/24 rule, since most CC issuers do not report their business cards to your personal reports. 5/24 is based on a pull of your personal reports and seeing what cards have been opened in the last 24 months.
Here is an excerpt from the 5/24 writeup at Doctor of Credit. The full article can be found here:
Business Cards Not Reporting
Not all business cards show up on your personal credit report. This means that theoretically you could have 10+ business cards and none of them would be counted towards your five card limit. You can view what business cards do/don’t report by clicking here.
Keep in mind that even though Chase business cards do not normally report, they will still be counted as Chase has this information internally. Update: It seems like Chase business cards aren’t counted.