Where To Find Checking Accounts For Bad Credit

When trying to find checking accounts for bad credit, it’s important to realize that it is probably not your credit score that’s preventing you from opening a new account. It’s easy to lump bad credit and your lack of a checking account together, but many times that’s not the case. I had bad credit for a very long time, and had no problem opening a new account at Wells Fargo.

So what is it then? Banks use a service from a company called Chexsystem that serves as a list of people who have had bank accounts forced close on them in the past. There are other reasons for ending up on this blacklist, but that is the most common. You won’t always be on this list, and after a few years you will simply be removed and you can bank again wherever you like.

Fortunately, there is a new type of account called second chance checking. You can get this is in a number of different ways. Some banks offer it, but it’s most common online. We’ll cover both of these so that you can know your options.

Second Chance Checking Accounts

Online, these accounts most commonly come from a company called Vision Premiere. What’s awesome about these is that as long as you’re a valid citizen of the US you’ll be qualified. It’s really that easy. They don’t care about income, employment, Chexsystems, or your credit score.

Fees with these are similar to those of the pricier standard checking accounts. Some companies will charge you a flat monthly fee, others will charge you for specific actions. I know that Vision waives many of these fees if you have direct deposit on your checking account.

So What If You Want A Bank?

That’s fine too, there are options! If you live anywhere near a Compass Bank branch your problem is solved. They offer bank accounts to people in your situation. It’s also surprisingly affordable at about eight bucks a month. If what I’m to read is true, they will automatically upgrade your account to a standard one after showing that you can responsibly manage your account.

The problem is that most people live nowhere near a Compass branch! So what can you do in this situation? One option is to look at the banks that are based in your city. There are probably more of these than you think, and they love to help out their community. This means they may be more flexible and lenient to your situation than other big banks. Otherwise, you’re stuck with the type discussed above.

Checking accounts for bad credit, or for those stuck on Chexsystem, come in a few different forms, but either one you choose is going to be a hell of a lot better than using check cashing!

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My name is Lydia and I'm and expert at getting fast cash. I've been through it all, and now I want to share my experience with you

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