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tmcgill

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Everything posted by tmcgill

  1. Chexsystems is usually not an issue for temporary overdrafts or unauthorized charges. It may factor in if the charges are not resolved, and the account charges off.
  2. Good news! Keep us updated with any operational or customer service issues with United and Citizens.
  3. The first 30 days after you open an account is a "probationary" or new account period. The banks don't know your banking habits, as you are not an established customer. They closely monitor for any irregularities. Any activity that violates the account agreement might prompt the back office to close the account. When a bank closes your account, contact them and try to pinpoint the reason. Again, any transaction they consider suspect - or that violates the account agreement could trigger a closure. Any basic info is at the top of the section in the pinned posts.
  4. 1) What date were you reported to Chexsystems for the second check? 2) Have you requested a copy of that report? Also, there are numerous banking options if your Chex report is negative. Reply with your city and state for possible options in your area?
  5. NEVER give your routing and account number! There isn't enough space to post the horror stories I've seen through the years. ***You can try Chime or Cash App accounts. They both offer routing and account numbers with their cards. Also, ask your current bank if they offer temporary processing numbers or second accounts not linked to your primary.
  6. Have a financial strategy and watch the inquiries. I've often recommended the following: (My accounts) 1) An account and backup strictly for household expenses. **Local small credit union and fee-free internet-only bank. 2) A saving account only for emergencies (no point-of-sale). **Ally money market 3) A card strictly for point-of-sale and internet purchases. **Chime card 4) I also have accounts for investing only. **M Lynch and Robinhood
  7. Thanks for the updated info. I've learned that BOA is self-serving and fickle like many other banks. The strategy is to stay in control of your money, whether it's personal and business. Always have a backup plan if you have negatives in EWS or Chexsystems. EWS repeatedly says over the phone its five years. However, I've helped some remove entries that were well over 5 and even 7 years.
  8. I don't think there is a single source or CRA. Agents and brokers have told me that scoring is a combo report using several factors, depending on the insurer. Data is merged based on several factors: FICO, age, driving history, claims experience, zip code, etc., all merged from Lexis, one of the big three, C.L.U.E or other specialty CRAs.
  9. Thanks for the input. Note: Several responses that PNC runs Chex when you apply online
  10. SoFi, GO2, Varo and BBVA are widely recommended for those on Chexsystems. Does anyone have experiences with these banks? 1) Approval Process 2) Fees 3) Customer Service 4) Products
  11. Although the FDCPA doesn't apply to OCs, the FCRA allows you to send a 623 letter AFTER a CRA dispute. I've gotten older debt removed with the 623 for re-aging and incorrect debt amounts. a) You have to dispute with a credit reporting agency first. The 623 is done after a debt is verified by a CRA. b) The 623 is not validation but an "investigation" request. You're saying "XYZ credit reporting agency verified my dispute, but it is incorrect because of (why you're disputing). Please investigate your records regarding this account. They have to respond in 30 days with the results of t
  12. I would never give Experian access to my checking account. I understand Boost is for a specific consumer, but if I was that consumer, I would use other options to add points to my score.
  13. Note: A few minor issues: It has been reported that you have to pay those reported utilities through your checking account. If you pay using a non-checking associated card, it doesn't get noted by Experian. Also, if your financial institution is not listed for Boost, you may have to request they add it to their system.
  14. Thanks for the update. 👍 Let us know about any service or operational issues.
  15. Thanks for the info. Note: Federal law requires banks and credit unions to verify identity, so many of them use Lexis, or one of the verification products sold by Experian, Equifax or Transunion.
  16. 👍Thanks for the info. Keep us posted on negative or positive service/operational issues.
  17. I have no qualms sending my license for ID confirmation. The license is a public record (no concerns about copying signature, etc.)
  18. If so, and you have negative Chexsystems, EWS, Telecheck or low FICO score, tell us about it.
  19. A freeze is no guarantee for approval, although it has worked for some.The best strategy is to call the bank or credit union, and ask them which CRA they use for new checking and savings. Then you know whether to apply, or which report to try and clean. Yes, Specialty Consumer Reporting Agencies (as defined by federal law), and used by financial institutions, must follow the FCRA.
  20. Thank you for the update. Keep us posted on any operational or service issues - both positive and negative.
  21. You violated your account agreement with the negative balance. It was reported to Chexsystems - and possibly Earning Warning Services (EWS). Since it was paid, Chex should update it to a paid status. Many banks and credit unions will approve with a paid indicator for negative entries. Each bank or credit union has their own internal policies. During the five year negative reporting period, use non-Chexsystems - non-EWS financial institutions. Let us know if you need help locating a bank or CU in your area. As for legal action, there is no basis.
  22. I haven't heard of a brokerage account closure in this instance. **This is why we advise finding out what is used for approvals first. Those inquiries can negatively affect future applications.
  23. **Paying amounts does not guarantee removal.** The accounts will still report for five years from the charge off date. However, some banks and credit unions will approve if charged off accounts are paid. Each financial institution has their own internal approval system. The key is to identify where you want to bank, and contact them to find out their approval process. Call and ask them what they use. You can also post on this forum for feedback from others who may use that bank, or got denied. This minimizes inquiries which can affect approvals. When Yo
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