Bad Credit Checking Account

Not everyone knows that you can get bad credit and get denied for a checking account. That crappy part is that you can. People with bad credit also need a checking account. If you are denied for a checking account, the reason is because your name is on the Chexsystems List. This list is used by over 80% of banks to share a list of people who owe them money. The majority of people who are rejected checking accounts are ones who got an insane amount of overdraft fees and could not pay it back. In my opinion, it is unfair how banks charge an overdraft fee if a checking account goes 2 dollars in the negative from a cup of coffee. Then if you go and charge another 2 dollar item when you account is negative, you will get another 30 dollar non sufficient funds fee, also known as an NSF fee.

Ok, now lets get to the good part of this. Despite your bad credit, you can still get a checking account. Just because your name is on the Chexsystems list and you have bad credit, it does not mean that it is impossible to get a checking account again. For one, there are banks out there that simply do not use chexsystems, so they would not see that you have bad credit. Secondly, even if they do use the list, they may still grant you a checking account because they are not forced to automatically deny you if they see your name on it. So, what is your job? Your job is to find the banks that will give you a checking account. When you get a new checking account, make sure that you fix your credit and watch your finances. Do not let your account get low enough where it might go negative! It is not fair how the banks can charge insane fees, but you will have to just watch it very close. For the most part, a bad credit checking account is going to be the only option for some people.