Apparently I have NO CREDIT SCORE

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Elijahmex
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Apparently I have NO CREDIT SCORE

Postby Elijahmex » Fri Jan 23, 2015 10:08 am

To make a long story short, I used to live in the US and had a Chase Visa Card. I then moved overseas to Europe and the bank was unable to send me anything overseas resulting in me not being able to pay bills, thus resulting in a company buying my debt and it turned into a whole mess. This all happened when I was 18-19. I made a trip back to NY JUST to pay this debt.

I am now 26 years old, my company is relocated to NY and so am I. My bank acccount @ Chase was closed due to inactivity. I absolutely need a US account in order to transfer funds from CHF to USD so I tried to open an online account with Capital One and at the end of the process, I received the following message.



Thanks for your interest in 360 Checking. As you know 360 Checking requires a credit check to determine your eligibility for the account.

Unfortunately, you're unable to complete the account opening process for the reason(s) listed below:

You have no credit score reported


How is this possible? I clearly had a Chase Visa Card at one point and even though this was about 7-8 years ago & the experience went south, I should still have some sort of credit score shouldn't I? I don't expect it to be good however I do expect to have something!!

I've tried contacting the 3 major report companies but trying to do so from Europe is nearly impossible.

Any advice, pointers are greatly appreciated.
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nismoZtuner
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Postby nismoZtuner » Fri Jan 23, 2015 1:24 pm

[video]https://www.youtube.com/watch?v=rz5TGN7eUcM[/video]

its no help but i just had to do it
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nismoZtuner
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Postby nismoZtuner » Fri Jan 23, 2015 1:26 pm

[color="white"][

-------------------------------------------[/color]
TU 752 (+4) - [5/9/2014] CK 726 - [11/24/14] EX 725 - [11/20/14] EQ 710

BankofAmerica Cash Rewards [2k] I American Express Blue Cash Everyday [3K] l Discover IT[2.5]

American Express Premier Rewards Gold [NPSL] I Marriott Rewards Premier [5k]

Chase Sapphire Preferred[7.3]

Inquires: TU(?) EX(?) EQ(?)

TCL-$19,800

Age-22

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kcm7
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Postby kcm7 » Fri Jan 23, 2015 2:13 pm

So, my understanding is that (and I hope someone jumps in to correct me if this is wrong), if an account has negative information associated with it, it falls off your credit reports after 7 years. Your account would have a 30-days-late associated with it and a 60-days late, and then it went into collections. If this was 7-8 years ago, and this was your ONLY credit account in the USA, there's nothing left to produce a credit score.

As for what to do, I have no idea. I don't have any experience opening an online checking account. In fact, I wasn't aware that any of them required credit checks, as no credit is being extended!
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oldsoldier
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Postby oldsoldier » Fri Jan 23, 2015 2:44 pm

Why not just start a reg checking account at say BofA and direct deposit your checks.

Just wondering.
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Vattené
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Postby Vattené » Fri Jan 23, 2015 3:05 pm

I believe you are correct, kcm7. If enough time has passed, everything will fall off of your credit profile and there simply won't be anything to report. There are people whose goal is to have no credit score or report whatsoever because any and all credit is evil and means you are enslaved to The Man (I have a relative that has fallen into this camp after trying to clean up her personal finances).

Some checking accounts require credit checks or less extensive background checks (like looking you up in ChexSystems) but not all! Your best bet is to get an account that won't require a credit check, but I can't be much help either. A credit union or smaller/local bank may yield better odds. From your experience in first leaving the U.S., it sounds like it might be much more difficult than one would expect to have a relationship with a multinational bank cross borders with you?
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Postby popamode72 » Fri Jan 23, 2015 3:53 pm

Chase doesn't do any HPs for their checking accounts last time I checked. Same with BoA and Wells Fargo. Try one of those.
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Postby augiedog » Fri Jan 23, 2015 4:43 pm

Generally ALL banks do credit checks (ChexSystems is the usual reporting agency for checking accounts). Usually they only look for negative information, such as a history of negative balances, and most banks approve people with no checking history since that isn't really negative. However, as you have just recently come back to the United States, you will likely be denied based on the fact that the bank finds this risky (such as if you leave a negative balance and leaves the States).

You can try applying at a bank in person, which they consider less risky, or you can try living here longer...
Luckily the bad debt you have is likely written off by now, however Chase will have internal records of that transaction which will impede any chances of having an account with them in the future.
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Postby Battery111 » Fri Jan 23, 2015 6:34 pm

augiedog wrote:Generally ALL banks do credit checks (ChexSystems is the usual reporting agency for checking accounts). Usually they only look for negative information, such as a history of negative balances, and most banks approve people with no checking history since that isn't really negative. However, as you have just recently come back to the United States, you will likely be denied based on the fact that the bank finds this risky (such as if you leave a negative balance and leaves the States).

You can try applying at a bank in person, which they consider less risky, or you can try living here longer...
Luckily the bad debt you have is likely written off by now, however Chase will have internal records of that transaction which will impede any chances of having an account with them in the future.


If I read the OP correctly, it sounds like he paid chase what he owed. Still, they are likely to deny opening another account with them, but it could be worth walking into a branch and speaking with a banker if he wants to reestablish a relationship with them. I'm not sure whether or how long Chase holds a grudge.
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Postby whit » Fri Jan 23, 2015 8:35 pm

Op--without further details can't really say what's going on because info you're giving is a bit light

If you want to PM me feel free to discuss more openly

If you've paid off the debt that was collected, and especially if it was years ago, it shouldn't affect the reasoning capital one is giving..unless the amount is astronomical for the bank (a couple hundred is OK, a couple thousand isn't) or the circumstances surrounding that debt

It's interesting the reason capital one gave you, I would try other banks or, brooch about why and call them up..ask them because you just got back to the U.S., you haven't had time to establish credit, and also to see the report they pulled



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