2. Open a Checking Account Online

How to Handle a Denied Application

If your application is denied due to the consumer banking report, the bank must tell you who generated the report and how to contact them. Use this information to obtain a copy of your report. Under the FCRA, you are entitled to a free copy of your report any time you are denied an account based on your consumer banking report.

If denied, here are three things you can do:

  1. Ask the bank to reconsider. Give your reasons and make your case. The bank is not bound by the report and may grant you an exception.
  2. File a formal dispute. If information in the report is not accurate and the bank won’t reconsider, you have a right to file a dispute with the reporting agency.
  3. Look into a “second chance” account. This type of account, offered by some banks, typically has higher fees and more restrictions but provides a pathway to rebuild your checking account reputation.

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