I have bad credit. I was wondering if there are any banks that will allow me to open an account?

Answer 1

There are banks that will open new accounts for people who have had financial difficulty in the past. There are some guidelines however for these second chance checking accounts.

You must have any debt that has been reported to check systems paid.

You must be able to have your payroll direct deposited into your account.

You must be willing to pay a monthly service fee in order to rebuild trust with the bank.

These new terms are generally only enforced during the first 6-12 months. After that you can change the account over to a more traditional checking account.

Check out:

US Bank
Wells Fargo
Chase Bank

~Danke Schoen

[e-mail]

Answer 2

You are actually much smarter than most of the posters to this question. I know for a fact that if you have bad credit some banks will not allow you to open an acocunt (even a savings account). I am not sure what the law is, but banks are refusing to open accounts based upon your credit.

Answer 3

ahhh, you dont need credit to open an account....what are they teaching these kids? just take your money to the bank and open a checking or savings account with it. Now can you "borrow" money from a bank with bad credit?...possible yes with the right colateral. Best bet, use cash for as many puchases as you can, save what you can and avoid over using credit...it gets people in debt. If you use a credit card, make small purchases and pay it off at each time the statement arrives. In no time at all you will have great credit. They really like it if you have a job also.

Answer 4

Sure you can open an account also by keeping your account up you can build up credit with the bank

Answer 5

I never heard of a bank that wouldn't take your money. You may not be able to get a credit card or a mortgage, but a bank account? Of course!

Answer 6

most credit service company do offer a secured line of credit. where you put a amount of money into a account, and the credit limit is what your deposit is. after a time it will help your credit score as long as you make your payments on time and in full, else they would deduct any balance from the account. and give you a negative reporting on your credit report.

Answer 7

I have an account at U.S. Bank and I don't have the world's greatest credit. I like them and have never had any problems with them.

Answer 8

the law is that all banks have to let you open a bank account - however it will be a basic bank account with no cheque book, credit card, debit card or overdraft.

Answer 9

Yes boo is right. It's the law you just will get the bare bones account aka the welfare account

Answer 10

You might want to take a look at some of the offers from this website to see if they suit your needs. I haven't checked in awhile but I think they still have some pretty good offers there...

Here's the site:

http://www.badcreditchargecard.com