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Chexsystem paid in full.


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The last post in this topic was posted 795 days ago. 

 

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So a few months back I posted that I had paid everything in my chexsystem and ews. I got a recent copy of my chexsystems which shows just that paid in full. None of the accounts are listed for account abuse or fraud. How come when I try to apply at any bank I still get declined. Any can share to give any insight on this thanks.

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**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 You Have Negatives On Chex/EWS:

1) Have a primary bank account for household bills.

2) Maintain a non-Chex, non-EWS account as backup for monthly bills.

3) Keep a debit card for point-of-sale, internet purchases only.

4) Optionally, keep a savings account for emergencies only.

**Never keep funds in a single account only. If possible, split payroll direct deposits between accounts.

 

Here is my setup.

1) Local credit union for monthly bills.

2) Non-Chex/EWS online backup bank account.

3) Chime card for POS/Internet.

4) Ally Money Market for savings.

**I use cash apps like GPay and Venmo to move funds between accounts.

 

Edited by tmcgill
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The last post in this topic was posted 795 days ago. 

 

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