Opening a new Chase checking account?

[connect4]

Hi Everyone

I filed for BK Ch7 & discharged 2.5 years ago. I had Chase credit card debt that was discharged from the BK and also had a Chase checking account. I closed it prior / during my BK.

2.5 years later, I want to open a new Chase checking account... According to CreditCheckTotal my credit score is about 700 (from credit piggybacking). Not sure how accurate this is.... Never had a problem with Chex/Overdrafts etc......

1. Should I be able to open a new Chase Checking Account?

2. And should I come in to a Chase Branch and just tell them that I used to have a Checking account and closed it because of a BK 2.5 years ago?

3. Or should I just come in and say I want to open a new account with them without mentioning my prior BK?

Many Thanks

[Logan]

Hi Everyone

I filed for BK Ch7 & discharged 2.5 years ago. I had Chase credit card debt that was discharged from the BK and also had a Chase checking account. I closed it prior / during my BK.

2.5 years later, I want to open a new Chase checking account... According to CreditCheckTotal my credit score is about 700 (from credit piggybacking). Not sure how accurate this is.... Never had a problem with Chex/Overdrafts etc......

1. Should I be able to open a new Chase Checking Account?

2. And should I come in to a Chase Branch and just tell them that I used to have a Checking account and closed it because of a BK 2.5 years ago?

3. Or should I just come in and say I want to open a new account with them without mentioning my prior BK?

Many Thanks

Number 3. Why volunteer any information?

Your credit score shouldn't matter when opening a checking account.

[TXskyblue]

Number 3. Why volunteer any information?

Your credit score shouldn't matter when opening a checking account.

If you opt OUT of overdraft protection, they probably won't pull your credit report. If you opt IN to overdraft protection, they will pull your credit report and possibly decline the account due to what they see.

I recommend opening the account, opting OUT of overdraft protection, and keeping your lips sealed.

[Slingerland]

A question: why do you want to open an account at Chase?

[bcohen]

A question: why do you want to open an account at Chase?

I agree. I can't think of any reason either. Chase is one of the worst banks, second only to Bank of America! Wherever you live, there have got to be better choices out there--a smaller locally-owned bank or credit union. I use a local credit union for my checking and savings, and I couldn't be happier. Not only do they pay interest on both the checking and savings, but they do not charge a monthly fee, they provide a paper statement free of charge, and there is no requirement to have direct deposit.

The big banks charge a monthly fee just to have a checking account (though some will waive or reduce it if you have direct deposit) and they charge extra to receive a paper statement each month, and of course they do not pay interest on your checking account unless you have a premium account with a high minimum daily balance.

[iswmle]

A while back someone on these forums said they took a $200 Chase coupon and nervously opened an account. They had BK'd Chase and was afraid that s/he would be laughed out the door. The banking officer didn't blink an eye, opened the account and got the $200.

But seriously, Chase does suck, I'd take PNC over Chase any day.

[TXskyblue]

A while back someone on these forums said they took a $200 Chase coupon and nervously opened an account. They had BK'd Chase and was afraid that s/he would be laughed out the door. The banking officer didn't blink an eye, opened the account and got the $200.

But seriously, Chase does suck, I'd take PNC over Chase any day.

The only reason I can justify using Chase is for the account opening bonuses. Have to keep the account open 6 months and then you can close it. I've done it every year for the last 3-4 years and I've enjoyed spending the free money.

[iswmle]

The only reason I can justify using Chase is for the account opening bonuses. Have to keep the account open 6 months and then you can close it. I've done it every year for the last 3-4 years and I've enjoyed spending the free money.

A friend of mine churns bank accounts. She opened an account with Key Bank for the $200 bonus. Then today I casually mentioned Discover's deal about $50 for their free checking account. 2 hours later she is messaging me on our communicator at work saying she signed up for their checking account and thanks for letting her know, lol. I have been tempted to do the Chase one, myself.

[TXskyblue]

A friend of mine churns bank accounts. She opened an account with Key Bank for the $200 bonus. Then today I casually mentioned Discover's deal about $50 for their free checking account. 2 hours later she is messaging me on our communicator at work saying she signed up for their checking account and thanks for letting her know, lol. I have been tempted to do the Chase one, myself.

I did the Discover one last night as well. $50 free.

Churning accounts is fine as long as you have the ability to meet the requirements and don't mind the hard inquiry on your credit report. My employer has the ability to have three direct deposit accounts and I can set them up myself electronically so I know they're right. At any given time, I'm usually churning two accounts. You have to make sure you can meet the direct deposit requirements, either like I do with my paycheck or by initiating an ACH push from certain accounts that is accepted as direct deposit (more complicated). You have to know the early closure fees and keep the account open the correct length to avoid them (usually 6 months). And you have to have an attention to detail so your bonus isn't eaten up by fees that you should have avoided but didn't.

I think I'll make about $1000 this year by churning accounts for bonuses. I've done First Niagara, BMO Harris, BB&T, Chase, and a local bank. There's another one I'm aware of but I want to wait until I can close one of my open accounts now.

As far as chase goes, it's simple. First you need the bonus offer. You can get a $125 bonus offer from the US Post Office in their free mover's packet. That one is easy but there are better ones. $150 is common and you can usually find this one online year round if you google for it. $200 offer comes and goes but if you are patient, it's not hard to get it. There is also a $300 offer. This one is sent by mail only. No idea how Chase decided whom to mail these to. Well, they are not restricted to the recipient so people sell them. I bought a $300 coupon for $40 off ebay.

The reuqirements are that you open a Total Checking account, fund it with I believe at least $100, have at least one direct deposit of $500 or more, and you'll get the bonus. You have to keep the account open for 6 months or else you will forfeit the bonus. To avoid monthly fees, you can keep a minimum balance in the account (not sure how much, may be $1000 or $1500) or you must have $500 or more in direct deposits each statement period. You can get one account bonus per calender year so I'd recommend doing it soon so it will count as 2014 and you'll be able to do it again in 2015.