Changing to a New Bank

[HopefulInOhio]

I'm trying to get away from the credit union I bank at and just got turned down by National City. Anyone have any ideas of a bank that will take me? I was going to put my entire student loan in - around $3000 - even. Of course that's going towards attorney fees and my moving, but still...??

Anyone? Or is my credit this ruined already that I'm stuck where I'm at at the credit union?

Thanks!

[lrprn]

I'm trying to get away from the credit union I bank at and just got turned down by National City. Anyone have any ideas of a bank that will take me? I was going to put my entire student loan in - around $3000 - even. Of course that's going towards attorney fees and my moving, but still...??

Anyone? Or is my credit this ruined already that I'm stuck where I'm at at the credit union?

Thanks!

What was the reason you were given by National City for turning you down? Do you have a history of bounced checks or other checking/savings account overdraft problems in your past that may have been reported to the CHEX system?

[HopefulInOhio]

They haven't given me a reason yet. Said they would send it to me in a letter..just got an email saying I was declined. I think I've had 2 checks bounce and that was years ago. I thought maybe it has to do with my CC debt...?? Just don't know...I want to get away from the credit union, but don't know if I should keep on applying at banks...or anyone know one that may be lenient? I think I'll wait to see what the letter says..I'm curious to the reason.

[lrprn]

They haven't given me a reason yet. Said they would send it to me in a letter..just got an email saying I was declined. I think I've had 2 checks bounce and that was years ago. I thought maybe it has to do with my CC debt...?? Just don't know...I want to get away from the credit union, but don't know if I should keep on applying at banks...or anyone know one that may be lenient? I think I'll wait to see what the letter says..I'm curious to the reason.

I doubt it's your cc debt - ours was over $80K and our local bank opened a new checking account for us about six weeks before we filed, no questions asked. Have you tried opening an account at a smaller, locally owned bank yet? Most seem to be less judgmental overall than a large, nationally based online bank like National City.

When you find out why you were declined, please come back and let us know. Hopefully we'll have more ideas for you to try then.

[toomuch]

I'm trying to get away from the credit union I bank at and just got turned down by National City. Anyone have any ideas of a bank that will take me? I was going to put my entire student loan in - around $3000 - even. Of course that's going towards attorney fees and my moving, but still...??

Anyone? Or is my credit this ruined already that I'm stuck where I'm at at the credit union?

Thanks!

I opened a new joint checking yesterday. I have 2 accounts at this bank already. The rep told me they were now pulling credit reports on new accounts (my heart froze) but since I was already a customer, she wouldn't. I still had to sign a paper saying she could.
I checked online this morning and it showed the account active. I'm hoping they won't run the credit check anyway and see I am behind in cc payments.

Good luck to you!

Toomuch

[AMISLANDER]

Is this the norm with banks now? I've been with BOA since 1991 and did not switch during the bk either....they have never sent me anything regarding my bk either....

[GoingDown]

Unfortunately yes, it is now the norm for most banks to run a credit check on new applicants, which does two bad things--

1. It makes it harder for people with bad credit to get a new checking account with favorable terms (i.e.-- free checking). And in some cases, they won't open any account at all for you.

2. It alerts collection agencies that your financial status might be changing and even tells them where to look to find your checking account in case they already have a judgment against you.

Before I applied for a new checking account I would ask if they do a credit check, and if the answer was yes, I would keep looking for a bank that doesn't run credit checks. Otherwise you will have your new bank's information on your credit report for at least two years after you open the new account.

[emoney]

Under the new Patroit Act, financial instutions must identify new customers. Most banks use a credit reporting agency. Other banks use other services like Chek Systems.
Ask before you leap. Say no to the credit checking as that is an inquiry and will lower your FICO score from 5 to 10 points at all above the line inquires do. Use banks and CUs that do not identify you thru credit CRAs.
Regards,
emoney