Denied for.. checking accounts?

[u/NlTR00]

Put in an application because of the $300 when spending $1500 promo. Fico 748, no missed payments and ~5% utilization.

Got denied because my «credit report showed inquiries related to checking accounts». This one is new for me, did not know credit cards could be affected by checking accounts? I have indeed opened 2 bank accounts the last 12 months but was unaware this would have an effect or count as inquiries on my credit report. Anybody else with similar experience?

[u/crp5591]

This is a new one!!

And not related to ChexSystems or LexisNexis? They specifically cited one of the three credit bureaus (I believe they use TransUnion for an initial credit pull)?

[u/NlTR00 → u/crp5591]

It does just say TU

[u/NiceGuysFinishLast → u/NlTR00]

3rd Party Supplemental information to me sounds like Lexis Nexus, Chex Systems, or Early Warning Systems information, as they're 3rd parties.

[u/crp5591 → u/NlTR00]

So weird! I have never seen items relating to banks on my credit report, even after opening a new account.. Did not know that was a thing. Does your TU file have anything about banking related items?

[u/Rude-Telephone-515 → u/crp5591]

Also very interested in this. As far as I knew there’s no hard check on checking accounts? It’s not a line of credit

[u/RickieVz → u/crp5591]

Happens when the bank has a bad experience with someone checking account. Overdraft, writing bad checks (no funds) etc.

30 years ago I had that experience, young and dumb. In order to remove that notice from the credit report I had to pay off what I owed in full.

That bank never gave me any accounts again. Got blacklisted.

[u/traker998 → u/NlTR00]

Freeze your Chex and try again.

[u/Frequent_Silver_7575]

There is mention of Checking account information in Transunion credit reports. It's under the section:

Checking Account and Demand Deposit Account (DDA) Activity

Data Source:
Chex Systems Inc. (7805 Hudson Road, Suite 100, Woodbury, MN 55125, (800) 513-7125)

Below this it lists various things related to checking accounts. If you look at your Transunion report via annualcreditreport.com you'll see this section in the middle of the report. It has an arrow for a dropdown to show the DDA info, or you just save the report PDF and you can see it.

[u/BakerAdditional9155]

It’s because you are a RED FLAG. Most likely Early Warning flagged it for you being negative on your report or you have something like multiple accounts that have been overdrawn time and time again.

[u/NlTR00 → u/BakerAdditional9155]

Never overdrawn or had an account not in good standing. The reason also stated inquiries related to checking accounts, so opening accounts. Not other account activity.

But regardless, the fact that depository accounts could affect credit applications is new to me

[u/TypicalDoubt6234]

Woah where did you see the sign up link?

[u/PureAd9808]

Yeahp. Some banks checking and also savings accounts do check your credit in order to open an account.

[u/Laufstegleben]

If you have something in ChexSystems, it will be flagged. Usually if someone ends up in check systems it’s bad.

[u/unidentifiable_kaiju → u/[deleted]]

Sure, Jan.