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Posts Tagged ‘Checking Account’

Question about credit at 18 years old?

Posted in Credit on 02/08/2010 07:05 am by admin
destructfashion asked:


I just turned 18 about 10 days ago, and I tried opening a checking account with bank of America, but received the following notification a few days later:

“We are unable to open your account(s) at this time. Our decision was based in whole or in part on information obtained in a report from a consumer-reporting agency.”

I’m assuming this means that it wasn’t opened because of information on my credit report. However, up until this point I haven’t been able to sign up for anything that involves credit, so shouldn’t I not really have a credit report? Considering that a checking account just involves me using money in my own account, I don’t know why it would be turned down based on a lack of credit.

Also, I tried checking my credit report online but every site requires a credit card number (even if the service is free), and I don’t have a credit card because I was a minor until about a week or so ago. So I don’t know how to check my credit report either.

Any tips on either of these things?

FELIX

 

If a bank does a hard pull on my credit report to open a bank account how will this negatively effect my score

Posted in Credit on 09/09/2009 02:58 am by admin
The Great Poomba asked:


I wanted to open an online checking account and am planning on buying a house soon. How much will this effect my credit score?
Thanks! It’s actually a checking account through Schwab that gives a pretty high percentage interest on your money, so I’m not sure if that makes a difference.

VANCE