DaveLV's Trickâ?¢

Chargedoff,
#1--yes
#2--no
#3--500
#4--yes, I'm mailing it in--Happy 4th

 

Thanks Dave and Marc for your responses. I got encouraged by your experiences and I FINALLY went to umbrellabank.com to apply for their checking account.

I applied for their Preferred Interest Checking ( with $2,500 Minimum Deposit ) and they DID NOT OFFER ME ANY CREDIT CARD!!!!!!!!!!

I checked Experian - they have pulled a soft. I cannot believe this. I have a two bad accounts and both of them are under investigation in Experian.

I am now thinking, I do not even want to send them any money and will call them to say I do not want to open the checking account if they cannnot offer me a CC.

 

Dave - I looked at their website, and they have several checking accounts from which to choose. The "virtually free" $100 min. deposit sounds great. Do you think it matters which checking account you select, whether they offer the platinum or not? Could you please tell us which checking account you selected? I hope this question hasn't already been asked. I read the thread and didn't see it. I'll feel like a real dummy if I'm making you repeat yourself.
Thanks!

 

I just applied for whatever the premier account was, got it, but no credit card and I have around a 730 fico, although I have opened a lot of new accounts recently.

 

Well slppryslp, firstly they only pull experian so I think that is the only CR/score that matters. Secondly, to tell you the truth, I am a bit relieved that if they did not offer to someone with 730, I was way behind with 666 (experian). So, are you still planning to send them the check to open checking?

Dave, Marc,

1. That raises the question, what exactly is their criteria?

2. Do you remember who ever applied for checking and got the offer for CC, were all of them in club 700 ???

 

We both applied for the practically free $100 minimum checking, w/o direct deposit.. EX scores of 719 and 674. BOTH were declined. There is, as of now, still no inq on EX (hard or soft.)

To our knowledge, we do not have and have not ever had a problem with anything on Chexsystems. We've requested reports from them and should know something for sure within a few days.

DemPooches

 

Thank Pooches for the post. Now we know there are at least 3 people with decent to excellent scores who were not offered anything from umbrella bank. By the way, they did pull a soft from experian for me.

May be they are not offering the CC that easily any more? May be in the past few months they were running a campaign or trying to get so many number of CC accounts and hence were offering to more people.

The question is, if we (who were not offered any CC) continue to open the checking account, will they offer CC in the near future?

 

DemPooches, I just read your post again. It seems you were declined even for the checking? Sorry to hear that. With your kind of scores, I wonder what is going on?

 

I don't know...we are at a loss. The only thing we could think of is there might be something wrong on Chexsystems. We've never had need to pull their report for anything so we don't have a clue as to what's on it.

We've gotten new checking accounts (both business and personal) in the past 3 years or so and have had no issue whatsoever. We have never had any kind of problems with old bank accounts or bounced checks or anything like that so we really can't do much until those reports arrive and we see if there is something weird on them.

I'll say one thing, if this little exercise is responsible for us finding out about an incorrect entry on Chexsystems, it will be worth every minute of aggravation just to be able to get it straightened out.

DemPooches

 

Well I did it. I applied for the virtually free checking with a $100 deposit. I was approved for a $500 overdraft and a $2000 classic visa. I'll "sock drawer' it just to improve my ratios. Soft inquiry on Experian. My CE score is at 649 as of this morning.

Thanks Dave!

 

I have a friend with Experian score of 700 who applied on-line yesterday for the free checking $100 min. deposit. She was approved for the checking account and $1,000 overdraft. Nothing else was offered. She has an 8-year old discharged Ch.7 bk, and 10 positive tradelines. No other negatives.

Since others with bk have been approved, could there be a correlation between the number of positive tradelines and approval?

 

My only negative on EX is a two year old paid collection for ~$400 (Chevron). Six positive tradelines.

 

Quixote, if you don't mind my asking, approximately how many total positive tradelines do you have on Experian? More than 10, less than 20? Just trying to figure out how a 700 Experian score would get no automatic card offers.

 

lyttlemac, you may be right. It is possible the correlation is with the total number of positive tradelines. I was approved for the checking, but they did not offer me any CC or overdraft. I only have 2 positive tl's.

 

Three closed "paid as agreed" accounts, two cc's and one car loan.

 

Question. What happens if you close the checking account. Do they take your VISA card away?

 

On mine I have 17 tradelines and no negatives, but as I said I had recently opened several accounts(thats the only reason i can think of why they might decline me)

 

I called today to discuss the credit card issue. Said my friend had referred me and they had received credit card offer. Asked them what's up with me (my EX is my best). Thay said they were not taking any more CC applications.

This has GOT to be BS - any similar experiences?

-Cliff

 

Do u guys know if they check CHEX for PAID or only unpaid?