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Hello Everyone! I know there have been comments and opinions made on liquidity and where to keep it. Right now Citibank is offering their Citi Gold Checking account with $400 Bonus. I know that many of you have cash sitting in CU's and Banks, just wanted to get your valued opinions on whether this is a good option to put cash in or if there are better options. Mind you, the goal here isn't to see any type of return as I do not want to lock in the cash to any time frame. Again, thank you all for your guidance and help! Have a great day!!
Hello!! Ok so here is my dilemma. Not sure if this is the right forum.
I’m 25 years old and just discovered what Chexsystem is. I lost my job and my checking account became overdrawn for $420 dollars. Half of which are fees from TD Bank. I contacted TD immediately after I received my first paycheck and they said they were in the process of closing my account it was on day 61; so I just missed it by a day!! Grrrrr! I begged and pleaded ask to speak to supervisors and all I got was there is nothing we could do.
So, I hopped online and back on this board and after reading through everything I went the next day which was this past Tuesday and opened up 4 checking accounts Wells Fargo, Bank of America, Citizens Bank and local Credit Union. I didn’t want to take any chances on when they would report me to Chexsystems so I just went the very next day. From what I’ve read once you’re in ChexSystems you can’t open a checking account for 5 years! That’s crazy! There is no way I could go 5 years. The reason I opened 4 is because I saw where some accounts were closed because the bank did a Chexsystems sweep, so I figure out of 4 I have a better chance of having at least one stay open. My other reasons are because I need to establish credit; so I want to get secured credit cards with all these banks and start utilizing.
My credit file was blank up until last year. I have 2 collections, one medical and one is from an AT&T bill and I am assuming now the one from TD bank will appear soon. I just started working with Credit saint credit repair (heard good things about them and good BBB rating) I’m not that savvy in contacting the bureaus myself.
OK so basically I just need a game plan at this point on how to establish my credit from this point on and rebuild. I REALLY hate I let these stupid 3 things even get on my file! Please help and sorry for the long rant!
I have an entry on Chexsystems that is almost five years old. It actually doesn't even belong to me, but rather to my father with whom I share my name. The last four digits of the SSN on the report don't even closely match mine. However, Chexsystems is steadfast in their refusal to remove it.
To that end, I have had to circumvent Chexsystems and open my accounts at banks that do not subscribe to that silly service. In my experience, there are many credit unions that do not pull Chexsystems, including NASA FCU, PSECU, PenFed, Navy Federal, Apple FCU are just a few. I know Dept. of Commerce FCU unquestionably pulls Chexsystems, as does Alliant FCU, SECU, Georgia's Own, Congressional Federal and Dept. of Agriculture FCU. Additionally, I've found from experience that Chase and Citi uses Chexsystems, but SunTrust, TD, USAA and WF do not.
I have come to realize, much to my satisfaction and surely to their chagrin, that Chexsystems' relevance and influence in the banking industry is slowly eroding. I hope this helps those of you who are stuck under the thumb of Chexsystems.
Hi I just applied for the bank Simple.com online and was declined.
The Reasons from chexsystems were as followed:
Credit Score: 0532 Score Date: 7/30/2014 5:25:52 PM
The key factors that adversely affected your score are as follows:
ASSET OWNERSHIP HISTORY
CURRENT ADDRESS CHANGE HISTORY
DDA CLOSURE PAYMENT HISTORY
1 previous inquiries by 1 Fl(s)
My credit score has never been this low before and I just had a credit report done 2 years ago and it didn't say any of these things. So i'm curious what these mean. I know I have a bad bank account with a Small bank in another state that I had but Im working on paying that off. we recently moved but at the end of our lease so im confused on the current address change history.
Any help on what all of these mean would be greatly appreciated!