AR--for checking account???

Discussion in 'Credit Talk' started by mirabelle, Sep 2, 2001.

  1. mirabelle

    mirabelle Well-Known Member

    I noticed an "AR" notation from my credit union on Equifax--I only have a checking, savings and debit card with them; no loans of any kind, not even a credit card. Has anyone else had this happen? I am just curious, as I don't see what relation my credit report has to do with my checking account...seems like they'd go through Chexsystems or something more applicable.

    Also, does anyone know specifically what Citibank looks for in their every-2-month AR? And do they only use Equifax?

    Many thanks.
  2. Reshod

    Reshod Well-Known Member

    The CU could be considering extending you a pre-approved line of credit via a credit card or a loan.

    Citibank will check your reports every two-three months. They are just checking for the account activity on your other cards, to ensure that your credit hasnt all of a sudden went down the TUBE.

    Good Luck,

    and the pre-approval will be coming soon.
  3. mirabelle

    mirabelle Well-Known Member

    I wish...but I highly doubt it; the credit union is really, really conservative and I've never know them to do preapprovals (they may, but we've never gotten anything). But they have some great checking/savings account plans so I'll stay with them.

    I know Citi does the AR every 2 months (like clockwork) and I called the CS line anonymously and asked what they are looking for specifically and of course the CS reps don't know (but they are nice at least). We just had some dings in the last few months due to my husband being laid off a while back (the dilemma of staying caught up as long as we could and then a few accounts got paid late this summer). It shouldn't happen again (he got a good job), but with my luck they'd say "even though you've had an account with us for 13 year and never paid late and have a good apr, we want to jack your rate up to 24% because of this."

    I'll just have to hold my breath and monitor. Thanks for the kind words!
  4. lbrown59

    lbrown59 Well-Known Member

    ==========This rip off should be out lawed! It has nothing to do with being delinquent on the account!==========

    GEORGE Well-Known Member

    ASK THE CU WHY...(and tell them to stop it)...
    Also you can tell them (the CRA) you have NO loan with them so remove the AR's...
  6. breeze

    breeze Well-Known Member

    How can we go about getting this done?


    GEORGE Well-Known Member

    I couldn't see them puting a "legal" company out of business...
  8. dlo64

    dlo64 Well-Known Member

    My thoughts are the same as Reshod's. I thought that they may be looking to see if you're a candidate for some sort of credit offer, even if not preapproved.

    One of the CU in my area does a credit check as part of the process of opening an account as well as checking through Chex. Still could never understand why any financial institution would check your credit to open an account.
  9. mirabelle

    mirabelle Well-Known Member

    They said that they do actually do some sort of credit check when you open the account--but we've had this account for about 4 years. I asked them at the time what they were looking for--CS rep at the credit union of course didn't know--and then said she thought it was to see if there were bad checks so I didn't worry about it at the time.

    Maybe they are looking for judgements, like from a county court??? For hot checks?! After I've had this account for 4 years, maybe they figured out they never checked up on me.

    I am most definitely calling them tomorrow and inquiring what is up--and you can bet I am going to dispute that w/ Equifax..
  10. mirabelle

    mirabelle Well-Known Member

    It has nothing to do with the account I have with them... you are so right...but I know they do the AR to come up with an excuse to raise APR's. I can understand the logic if they have a default rate if you pay that specific creditor poorly, but it annoys me that they scrutinize every single thing with other creditors as well.
  11. lbrown59

    lbrown59 Well-Known Member

    Didn't say put them out of business = just put a stop to the rip off >

    There is states law also>

  12. lbrown59

    lbrown59 Well-Known Member

    You do not owe any kind of a default penality on accounts not in default.Take them to small claims.


Share This Page