The short answer is yes, you can get a checking account no matter what your credit score is. The problem, however, is that it might not be your credit score that’s preventing you from getting a checking account. I’ll start by explaining why this is, and then how to get checking accounts for bad credit.
Many times your credit score is completely irrelevant to your ability to open a new checking account. Instead, you may have ended up on the bank account “blacklist” called Chexsystems. This happens when your bank has closed your account on you or you’ve incurred multiple overdrafts on your account. Either way you’re only on this list for a few years, and after that you can get back whatever account you want. Banks use this as a way to reduce their own risk and protect their credit score.
So how do you get a new account? If you live near a Compass bank they have an account that’s specifically geared towards people in your situation. If not you can look at the small banks that are based in your city since they tend to lend a hand to locals.
If neither of these can work for you, you may want to turn to the internet. There are tons of companies out there that offer second chance accounts to people who are in your situation. Many of these will guarantee you a new account as long as you’re a valid citizen of the US. They don’t care about credit score, employment status, or Chexsystem. Rush Card and Vision Premiere are two of the biggest names in this industry and will both guarantee you an account. Both of these will even allow you to borrow money online right through your account and help improve your credit score at the same time.
Getting a new checking account with bad credit is easy to do, even if your credit score isn’t what’s holding you back! Spend some time figuring out which is the right choice for your situation and then apply. It’s just a matter of time until you can get a normal bank account again.