Capital One Checking account?

Question

does any one have one or heard about it? good? bad? requirements? do they check your credit or check to see if you are in chexsystems?

Answer 1

Virtually all banks check your credit before opening an account. And the vast majority of them use ChexSystems as well. The major national-brand chains are virtually certain to do both.

I don't do business with Capital One (or any other bank for that matter - credit unions only!) but I've been told that they're nice enough as long as you're current on your payments and don't bounce any checks BUT turn into a snarling doberman if you get behind.

I highly recommend dealing with local credit unions, never with banks. Credit unions are owned by their member/depositors. They have a stake in your financial health and really do care about you and your finances. You'll get the fairest rates on any loans and decent rates of return on deposits.

Some people shun credit unions saying that they disapprove too many loan applications. There may be a bit of truth in this but that's only because they really DO care about your financial health and won't willingly allow you to get in over your head. Many credit unions offer free classes in managing your finances and it was one of these classes that started me on the road to financial recovery many years ago.

Although some credit unions do use ChexSystems, many do not. And even those that do may be willing to work with you to get you started on the road to financial stability.

Answer 2

Most major banks DO CHECK YOUR CREDIT. Sometimes it's for ID verification, and sometimes it's to see if you quality or not. Wachovia, Bank of America, Wells Fargo, Citi Bank, etc. all check BOTH ChexSystems AND CREDIT.

Capital one DOES NOT OFFER checking accounts.

They have money market accounts that have greater restrictions, no checks, and an atm card. They look at your credit.

Answer 3

I think all the major banks check with Chex -- if you have a history, it's better to try a credit union. They are cheaper. But if you've ever stuck a credit union in bankruptcy they may refuse to deal with you. Bankruptcy (or whatever) should not be a problem with a credit union if they didn't write off anything though.

Answer 4

Update info. On most Free Checking or basic checking account both with Checkcard and no interest . There is no credit check but they will use telecheck or cheq systems to see if you have written a bad check. They may do credit check for other accounts like Money Markets. No most bank’s do not do Credit Checks for their basic or free account. Some do for their checkcards but most do not. I have asked all my banks in my town. Only one said they do credit checks.

Answer 5

don't do it!! http://www.cap1sucks.com/