How to Open a New Bank Account with Bad Credit History?
By getbrowser
@getbrowser (1708)
China
October 24, 2009 7:09pm CST
As we all know, it is very difficult for us to open a bank account with a bad credit history. If we have bad credit history, sometimes, trying to obtain a bank account can be quite frustrating.
When people have had a bad credit history, they will be rejected to open a new bank account. Yes, the bank does a credit search on every potential customer who applies for a bank account and if the data reveals a low rating they will turn that person away.
So, is there a bank account available for people with a low credit rating or with bad credit history? How to open a new bank account with bad credit history?
13 responses
@shell2784 (752)
• United States
25 Oct 09
I have never been refused a bank account... even when my credit report was nothing but screaming "HELL NO" and the bank people! lol I had no idea they'd even turn people away *unless* you have negative accounts with other banks (whether its checking or savings) that youve refused to take care of...
@shell2784 (752)
• United States
25 Oct 09
did you apply at an actual bank?? Or did you try going thru a credit union? b/c they're stricter.
@l33tgirl (288)
• New Zealand
26 Oct 09
Hi from my experience working at a bank I know that banks like to know why that bad credit occurred. Was it a one off, such as forgetting to pay a doctors bill or multiple bills that you couldn't keep up with.
Usually if it's minor they are good about loaning money, as for a simple account with no credit facility they should be ok with that.
It's when people are bankrupt it becomes much harder to open an account - however banks realize bankrupt people need bank accounts also and usually let them have one with some restrictions placed on them.
@thea09 (18305)
• Greece
25 Oct 09
Hi getbrowser, you need to request a copy of your credit report and check through it carefully to see where the problem lies. Any inaccurate information you can ask to be removed but no factual information can be removed until 7 years have elapsed. Make sure any outstanding over due debts are completely paid off and then write to those creitors asking for a notation to be added to your file that the debt was cleared and what your circumstances were then.
@doormouse (4599)
•
25 Oct 09
i went bankrupt a few years ago,the only account i could get was a cash card only account,the lowest account possible,that was just over 6 years ago and i still can only have a cash card account
@lakerfanster (2577)
•
26 Oct 09
If you have a bad credit rating or just a lower than average on Then There are cards that will allow you to improve your credit rating while you pay for things on the card. This will help you in getting a full current account type bank account. Maybe try that if some other things aren't working for you.
@celticeagle (159400)
• Boise, Idaho
25 Oct 09
Where do you live? I have a friend who has bad credit and has gotten several bank accounts and never had them even check his credit history. Maybe just certain ones check because he has all services at the bank and even has a line of credit there. Not sure what kind of bank would turn you down since they are there to make money.
@LadyMarissa (12148)
• United States
25 Oct 09
I've never had that problem. I have friends who put all their funds into debit cards & pay their bills from the debit card. That way the don't have to worry with a checking account. Might be worth checking into!!!
@lakerfanster (2577)
•
25 Oct 09
If you just want to get a basic account without an overdraft then you will be able to get a bank account. A lot of people have bank accounts that they don't need when they really only need a basic bank account rather than a current account. Try that and if you can't get that then the other option is about getting an account online that has no credit check or anything like that.
@Baluyadav (3643)
• India
25 Oct 09
Hi,Initial you apply for simple savings account where you can't get any credit facility and bank people also won't find any risk.Operate that account perfectly and gain confidence of bank staff.Then you try whatever you require.
Otherwise if have any REAL FRIEND ask him to apply bank account on behalf of you on his name and know all the codes and operate your self.LOL..
All the best and have a nice time.
@Agoenxz (551)
• Indonesia
25 Oct 09
Excuse me... But, could you tell me by bad credit history means please?!
@shawn1990 (23)
•
25 Oct 09
yeah this can be difficult.
I got declined for a halifax account yesterday simply because i went over my overdraft once by about 20p :s
best of luck to anyone with a bad credit history trying :)
@shawn1990 (23)
•
25 Oct 09
yeah this can be difficult.
I got declined for a halifax account yesterday simply because i went over my overdraft once by about 20p :s
best of luck to anyone with a bad credit history trying :)
