Category Archives: Second Chance Bank Accounts
Secured Credit Card – Credit Repair Hack
DIY CREDIT REPAIR HACK
If you really need to improve your credit score in a matter of months, not years, there’s an effective technique that doesn’t cost you any money to implement. In other words, you can avoid paying a credit repair company to “repair” your credit, as they often get mixed results and often have a hefty price tag. There are techniques right at your fingertips that are very easy to execute and cheap (sometimes literally free). So, here’s the deal.
There is a type of credit card called a secured credit card (see the Applied Bank Gold Visa and the Unity Visa below). As the name alludes to, the card is secured by a deposit, say $400 (don’t have $400? Don’t worry, the security amount can be much lower…it depends on what you’re comfortable with). The security deposit amount serves as your credit limit (and is completely refundable when you close the account). It essentially works just like a typical, unsecured credit card, with the exception that the credit card issuer has a security deposit as additional protection and there is NO CREDIT CHECK with a secured credit card.
To build credit using the secured card, you should use as small a portion of your available credit as possible, every month, because a low rolling credit utilization rate will help your credit score. Why is this important? For several reasons. First, credit utilization, which is the measure of how much debt you’re carrying versus how much credit you’ve been extended, accounts for 30% of most major credit scores. YES, YOU READ THAT RIGHT…30%! To put that into perspective, payment history (whether you pay your bills on time, or at all), a metric almost everyone is familiar with as THE major credit score factor, accounts for 35% of your credit score. In other words, using a secured card correctly can have a major impact on improving your score. And again, you can start seeing positive results within 6 months.
“The score doesn’t look at a secured card any differently than an unsecured card,” said Barry Paperno, a credit score expert who has worked with FICO and Experian. “It will look at the fact it’s a credit card, when the card was opened, the credit limit and the balance, and of course the payment history. In that way it will help establish credit just like an unsecured card.” For example, let’s say you open a secured card with a $500 security deposit. If you can spend less than $50 a month on that card, or a 10% utilization rate, and pay that card off monthly, you will be exhibiting a both a low credit utilization rate and simultaneously improving your payment history. Wow, right?!
So, here’s your chance to take 5 minutes and open up one of these cards. It’s a simple application process. I’ve posted a couple cards above and below this article. I think both are awesome choices. Feel free to look into these, they’re the best ones I could find. And if you’re hell bent on hiring someone to help you, which I understand if that makes you comfortable, here’s a link for Lexington Law, a company that has a good track record of helping people repair their credit. BUT AGAIN, have some faith in yourself because you CAN do this by yourself. What have you got to lose?
Click on either card below to begin your path to repaired credi
APPLIED Bank Secured Visa Gold Preferred Credit Card
- Annual Percentage Rate (APR) – 9.99% (fixed)
- Annual Fee – $48
- One-Time Fees – None
- Monthly Fee – None
- Activate Today with $200 Minimum Deposit – Maximum $1,000.
- Increase Your Credit Limit Up to $5,000 by Adding Additional Deposits Anytime
- No Minimum Credit Score
- 5 Minute Online Application Process
UNITY Visa Secured Credit Card
- Annual Percentage Rate (APR) – 17.99% (fixed)
- Annual Fee – $39
- One-Time Fees – None
- Monthly Fees – None
- Balance Transfers Into APR – 9.95% for 6 months, 17.99% remainder
- Activate Today with $250 Minimum Deposit – Maximum $10,000.
- No Minimum Credit Score
- 5 Minute Online Application Process
CIT Bank – Premier High Yield Savings Account
CIT Bank’s Premier High Yield Savings Account allows you to build your savings at one of the highest interest rates available in the industry. Enjoy ultimate online banking convenience by managing your account from your smartphone or computer. This account does have balance tiers to determine the APY you earn, with the lower balance tier earns at a higher APY, while the upper balance tier still earns well above the national average. CIT Bank compounds interest daily to further maximize your earnings. Plus, there are no account opening or maintenance fees to worry about. Your money gets to grow without being disturbed by pesky fees. A $100 opening deposit is required to open an account. Open your account today!
Bad Credit Loans
BadCreditLoans.com understands people run into financial trouble from time to time. They are happy to deal with customers who have poor credit scores and to find them a personal loan that suits their needs.
As opposed to a PayDay Loan or Cash Advance Loan, which can charge interest rates of over 200% and require payment upon receipt of your next paycheck, BadCreditLoans will find you a personal loan with a reasonable interest rate and a much longer term or pay back period.
The approval process for bad credit loans is very straightforward. You must be a legal citizen and an adult (age 18 or older). Basic, required information for the transaction to take place includes a valid email address, working phone number, and the bank account where you’d like the money transferred. It’s that easy. Don’t have a bank account? Visit our second chance banking page for more information on how to easily open a Discover Savings account online (even if you are on Chexsystems or Telecheck).
Combining a fast loan request form and approval process with a quick delivery system makes BadCreditLoan.com the only way to go. Start the process today!
Scottrade Bank Accounts And Features
Scottrade Bank:
Scottrade may be best known for its online trading services, but be sure not to overlook Scottrade’s online banking services as a compliment to the Scottrade trading platform.
Scottrade Bank Accounts
Scottrade Bank provides a variety of different bank account options, including no interest checking, interest checking, savings, money market, and certification of deposits (CDs). Scottrade bank accounts offer conveniences like free online bill pay, ATM/Debit cards, and more.
Pay No Fees With Scottrade Bank!
The fees charged by most major banks can add up quickly. Scottrade online banking boasts NO fees and NO monthly maintenance fees on any banking products, including checking, savings, and money market accounts. Scottrade also does not charge fees for domestic ATM usage, and will reimburse fees charged by most third party bank’s ATM machines.
Scottrade – Single Source Convenience
All you need is a single login to conveniently access all of Scottrade’s banking and brokerage services. Plus, you can link your Scottrade bank accounts to your brokerage account for very quick and easy access to your funds. This can be particularly convenient for doing time sensitive trades. Scottrade’s interest bearing bank accounts are an excellent place to park your money when it is not actively being traded. The overdraft protection feature on your Scottrade banking accounts can also be linked to your brokerage account, for additional peace of mind.
Mobile App Services
Scottrade bank provides a robust mobile app that allows you to conveniently manage your bank accounts while you are on the go. In addition to making transfers, deposits and withdrawals, the app features mobile check deposit options for maximum convenience.
All of the Scottrade online bank account options provide the features we’ve outlined in this article, and more. Learn more about Scottrade online banking options, and start saving on your banking today.
Discover Bank: Rated 4th In the World For Quality
Discover Bank was the only U.S.-based bank to receive top ratings by Lafferty Bank Quality Ratings (LBQR) in a recent report.
Discover Bank: Ranked #4 Globally
Discover Bank received an impressive fourth place ranking, for quality and excellence in banking. Discover was one of 100 global banks that the Lafferty Group evaluated in its recent LBQR report. One hundred major world banks from 28 countries were included in the report, with the majority of banks receiving a rating of two or three stars. Discover, however, receiving four out of five stars.
The Lafferty Bank Quality Ratings reports take a unique approach, using the annual reports from the banks to consider both quantitative and qualitative aspects of the bank and its performance.
In response to the LBQR report, the CEO of Discover, David Nelms, said, “Receiving a top rating for quality is gratifying to us given the emphasis that we place on it at Discover… We are focused on being a leading direct bank and payments partner and believe that if we serve our customers well, then our shareholders will benefit too.”
We here at checkinghelp.com have been singing the praises of Discover Bank for years now. We are happy to see Discover receiving some of the recognition it deserves for its excellent service and product offerings, including Discover checking and savings accounts.
Discover Bank Savings Accounts
Currently, Discover Bank is offering some of the highest interest rates available on online savings accounts, more than 5x the national average. Discover savings accounts are currently paying 1.30% on all balances. Compare that to major banks like Chase, Citibank and Bank of America that are paying 0.01%. Discover Bank savings accounts also do not charge any fees for monthly maintenance, maintaining a minimum balance, incoming wire transfers, and more. Where fees are charged, they are significantly less than other major banks. A Discover savings account allows you to keep more of your money and earn more on your money.
Discover Bank Savings And Checking Accounts
Discover Savings: Discover Bank offers a wide variety of online banking services that outperform most traditional banks when it comes to products, service and value.
Discover Savings Accounts: Get More For Less
The Discover Bank Savings Account pays a higher percentage rate than other major banks, advertised at five times the national average. There are no maintenance fees and no monthly minimum balance requirements for a Discover savings account. Discover Bank also requires $0 opening deposit. Plus, there are no fees for incoming wire transfers and no fees for official bank checks.
When Discover Bank does charge fees associated with a Discover savings account, those fees are lower than the average fees charged by other major banks. The Discover Bank mobile app also supports mobile deposits, and provides easy online and mobile banking options.
Discover Bank Checking Accounts
The Cashback Checking account rewards customers for making every day transactions. Please note that this checking account is available to Discover customers and cardholders only. A Discover checking account is free, with no monthly service charge and no minimum balance requirement.
Get Rewarded For Discover Checking Account Transactions
Cashbank Checking account holders earn a small cash back award on every transaction including debit card purchases, online bill payments and paper check transactions. These incentives currently can add up to a total of $120 per year that is refunded back to you.
Discover Bank: Free Incoming Wire Transfers
Free expedited service for replacement debit cards and free check reorders also help set this account apart from the competition. One of our favorite features of a Discover checking account, however, is free incoming wire transfers. We have not seen another major bank that does not charge a fee for incoming wires, which can really add up quickly.
Access Over 60,000 ATMs For Free
Discover checking account holders have access to over 60,000 ATMs in the country for free, without any fees. Discover Bank also offers features that are standard with other major banks like mobile deposits, free online bill pay, and free debit card replacement.
Discover Bank: Top Rated
With the exception of ATM withdrawals, all of your banking with Discover is done online via the Discover Bank website and the mobile app. Discover Bank is also known for providing excellent customer service. Discover was also recently rated fourth among banks in the world for excellence in banking.
BBVA Compass Checking Account
ClearConnect Checking
The BBVA Compass ClearConnect Checking Account is a free checking account and offers customers the chance to open an online checking account for only $25. Open your BBVA ClearChoice Money Market first and then open a ClearConnect Checking account. You can then transfer any portion of your checking account balance to your BBVA Money Market to earn 1.25% interest. Enjoy no monthly service charges, free online and mobile banking, bill pay and online statements. The ClearConnect Checking Account has no ATM fees at any BBVA Compass or Allpoint® ATM. You’ll also receive a BBVA Compass Visa® Debit Card you can personalize with you favorite photo.
ClearChoice Free Checking
The BBVA Compass Clear Choice Checking Account is free and offers no monthly service charge, free online and Mobile Banking with Bill Pay, free online and paper statements, unlimited check writing and no fees on BBVA Compass ATMs. Open your BBVA ClearConnect Checking Account first and then open your ClearChoice Money Market account below. You can then transfer any portion of your checking account balance to your BBVA Money Market to earn 1.25% interest.
BBVA Compass ClearChoice Money Market
Want to earn more on your savings and tired of your checking account not earning you interest? Open your BBVA ClearChoice Money Market account first and then open a ClearConnect Checking Account or ClearChoice Checking Account. You can then transfer any portion of your checking account funds to your BBVA Money Market to earn 1.25% on your money. 1.25% Annual Percentage Yield for 12 months on your entire balance when you open a new BBVA Compass ClearChoice Money Market Account online. Account must be opened online.
Earn Rewards with NBA Banking
Show your support for your NBA team and open an NBA Checking Account at BBVA Compass. You’ll get rewards just for doing your everyday banking like paying bills and using your debit card. NBA Checking turns banking into a game by rewarding you for the banking you’d be doing anyway. Pay bills online and receive a $100 NBAStore.com Gift Card, or get a $15 Amazon Gift Card. You can also receive a $10 iTunes Gift Card just by using your Visa Debit Card to make purchases.
Customize your complimentary BBVA Compass Debit Card with the NBA image of your choice You pay no monthly Service Charge and get complimentary Online Banking, Mobile Banking and Bill Pay.
USAA Bank Checking
Free USAA Secure Checking
- No monthly service fees
- Use any ATM nationwide for free
- Bank anywhere with free mobile apps
- Make deposits anywhere just by taking a picture of the check with our free app (for eligible members). Or, deposit checks at select locations of The UPS Store®. And our deposit-taking ATMs let you manage cash or check deposits.
- Once you open a free Checking Account, you can open a USAA Secured Card® American Express® Card.
2nd Chance Banks in Alaska
What Is Second Chance Checking? Second Chance Banks in Alaska
Some Banks in Alaska offer a “Second Chance Checking Account” Program, which means the bank will open an account for you even if you’re on Chexsystems as long as any overdrawn bank accounts have been paid. Some banks have other names for these banking programs such as “Opportunity Checking” or “Fresh Start Checking”. To open a checking account through one of these special bank programs, you usually have to apply in person and, in many cases, the bank requires that you take a class on how to balance your checking account and avoid overdrawing your account.
The best checking accounts you can open in Alaska with no credit check, low to no opening deposit and no Chexsystems are: List of Second Chance Banks
- CIT Bank – CIT Bank’s Premier High Yield Savings Account allows you to build your savings at one of the highest interest rates available in the industry. Enjoy ultimate online banking convenience by managing your account from your smartphone or computer. This account does have balance tiers to determine the APY you earn, with the lower balance tier earns at a higher APY, while the upper balance tier still earns well above the national average. CIT Bank compounds interest daily to further maximize your earnings. Plus, there are no account opening or maintenance fees to worry about. Your money gets to grow without being disturbed by pesky fees. A $100 opening deposit is required to open an account.
- BBVA Compass Bank – Open an online checking account with the new ClearConnect checking account. The BBVA Compass ClearConnect Checking Account is a free checking account and offers customers the chance to open an online checking account for only $25. Enjoy no monthly service charges, free online and mobile banking, bill pay and online statements. The ClearConnect Checking Account has no ATM fees at any BBVA Compass or Allpoint® ATM. You’ll also receive a BBVA Compass Visa® Debit Card you can personalize with you favorite photo. Ch
- Discover Bank – Open a Discover Bank savings account online instantly and earn a rate 5x the National Savings Average with a low opening deposit and access to your cash anytime. The opening deposit is $0 but you have 30 days to make a deposit at a local branch or by setting up direct deposit. Discover Bank also offers its customer the opportunity to open a checking account. You have to have either a Discover Savings account or credit card to open a Discover Bank checking account. Checking Alaska Banks
All of the banks on our list of “Best Second Chance Banks in Alaska” have short, online applications and most of them do not require an opening deposit as most banks require. So, you can open a checking account from several banks in Alaska online and get an instant account number to set up direct deposit. Or you can mail the opening deposit to the bank, or sometimes use a credit card or prepaid card. Second Chance Banks in Fairbanks Alaska
Banks in Alaska Offering Second Chance Checking
Of course, you can always open a checking account specifically made for second chance banking customers. One such second chance checking account is available from True North Federal Credit Union and open to all Alaska residents. You cannot apply online for this type of account, and there is a $10 monthly fee to keep the account open. But True North Federal Credit Union’s second chance checking account offers free online banking and bill pay and a free Visa check card upon approval.
ALASKA CHECKING ACCOUNTS
Still, only if you have the money available to pay off your old, overdrawn bank accounts, will banks specifically offering second chance checking let you open a bank account. Your Chexsystem record stays on file for five years unless the information Chexsystem’s has is inaccurate and you file a dispute. Even if you pay off your old bank account, you still have to make sure the bank sends a letter to Chexsystems requesting the removal of any negative information.
Applying for a Bank Account with Bad Credit
Bad Credit Banks with No Credit Check Checking Account
When you apply for a new bank account, some banks will also check your complete credit report and score. The credit check itself typically isn’t the reason you were denied a checking account. Banks tend to deny you a bank account, not because you have unpaid credit cards or a bad credit score, but because you bounced checks in the past or still have a negative balance with a previous checking account.
bad credit banks and banks with no credit check
To prevent terrorism and fraud, all banks are required by law to verify your identity in the form of a “soft pull” of your credit report. This means they only access your credit report to check that your name and address match up with your social security number. This is how the bank obtains the information that makes up the random identity confirmation questions during the process of applying for a checking account. A soft pull of your credit report won’t lower your credit score and doesn’t give the bank can’t see detailed information about late car payments or bills in collection.
No Chexsystems banks. How do I get a checking account if i am on chexsystems?
Banks requiring that your checking account is enrolled in overdraft protection in the form of a bank-issued line of credit, will require that you don’t have bad credit. The bank will conduct a “hard pull” of your credit report, meaning that the credit check itself will lower your credit score by 2 points. Our list of recommended Banks in Alaska do not use Chexsystems or check your credit history. Alaska banks that have a second chance bank account
Why You Need A Checking Account No Opening Deposit Checking Account in Alaska
Many employers today no longer bother issuing checks and require that you have direct deposit. This can be an embarrassing situation if you need a bank account but keep getting denied because of Chexsystems and don’t want to explain to your new employer that you bounced checks at your last bank and can’t get a checking account. Second Chance Banks in Fairbanks Alaska – Second Chance Banks in Alaska with free checking accounts and no opening deposit
Because Chexsystems works like a consumer credit reporting agency, if you try to cash a check, even at a popular retail location such as Walmart, they will also run your identity through a check system such as Telecheck or Chexsystems and refuse to cash your check. Also, without a checking account, you’re usually left with the option of paying a higher fee and cashing your check at a check cashing store or currency exchange, businesses that profit from your past mistakes; the greater the amount of your check, the higher the fee. second chance banks in alaska
2nd Chance Banks in New Mexico
Banks Not Using ChexSystems in New Mexico
A few banks in New Mexico specifically offer a “Second Chance Checking Account” Program, which means they’ll open an account for you even if you’re on Chexsystems as long as any money owed has already been paid. Some banks have other names for these banking programs such as “Opportunity Checking” or “Fresh Start Checking.” To open a checking account through one of these special bank programs, you usually have to apply in person and, in many cases, the bank requires you take a class on how to balance your checking account and avoid overdrawing your account.
The best checking accounts you can open online with no credit check, low to no opening deposit and no Chexsystems are: List of Second Chance Banks
- CIT Bank – CIT Bank’s Premier High Yield Savings Account allows you to build your savings at one of the highest interest rates available in the industry. Enjoy ultimate online banking convenience by managing your account from your smartphone or computer. This account does have balance tiers to determine the APY you earn, with the lower balance tier earns at a higher APY, while the upper balance tier still earns well above the national average. CIT Bank compounds interest daily to further maximize your earnings. Plus, there are no account opening or maintenance fees to worry about. Your money gets to grow without being disturbed by pesky fees. A $100 opening deposit is required to open an account.
- BBVA Compass Bank – Open an online checking account with the new ClearConnect checking account. The BBVA Compass ClearConnect Checking Account is a free checking account and offers customers the chance to open an online checking account for only $25. Enjoy no monthly service charges, free online and mobile banking, bill pay and online statements. The ClearConnect Checking Account has no ATM fees at any BBVA Compass or Allpoint® ATM. You’ll also receive a BBVA Compass Visa® Debit Card you can personalize with you favorite photo. List of Second Chance Banks in New Mexico that do not use Chexsystems
- Discover Bank – Open a Discover Bank savings account online instantly and earn a rate 5x the National Savings Average with a low opening deposit and access to your cash anytime. Discover Bank also offers its customer the opportunity to open a checking account. To open a Discover Bank checking account, you have to open either a Discover Savings account or credit card. You have 30 days to make a deposit at a local branch or by setting up direct deposit. You can also make your opening deposit by mail. Second Chance Checking
The banks on the list of Second Chance banks in New Mexico do not use Chexsystems or check your credit history. Most have short, online applications and most of them do not require an opening deposit as most banks require. So, you can open a checking account online and get an instant account number to set up direct deposit. Alternatively you can mail in the opening deposit, or sometimes use a credit card or prepaid card. Second Chance Banks in New Mexico
Of course, you can also apply for a new checking account with a bank that offers second chance accounts. One such second chance bank in New Mexico is Lea County State Bank. Lea County State Bank offers New Mexico residents a “Second Chance” checking account, which requires a $100 opening balance and entails a $10 monthly service fee.
Yet, if you don’t have the money to pay off your old, overdrawn bank accounts, even banks specifically offering second chance checking might not let you open a bank account. Your Chexsystem record stays on file for 5 years unless the information in Chexsystem’s report is inaccurate and you file a dispute. Even if you pay off your old bank account, you still have to make sure the bank sends a letter to Chexsystems requesting the removal of any negative information.
Applying for a Bank Account with Bad Credit
When you apply for a new bank account, some banks will also check your complete credit report and score. The credit check itself typically isn’t the reason banks will deny you a checking account. Banks tend to deny you a bank account, not because you have unpaid credit cards or a bad credit score, but because you bounced checks in the past or still have a negative balance with a previous checking account.
To prevent terrorism and fraud, all banks are required by law to verify your identity in the form of a “soft pull” of your credit report. This means they only access your credit report to check that your name and address match up with your social security number. This is how the bank obtains the information that makes up the random identity confirmation questions during the process of applying for a checking account. A soft pull of your credit report won’t lower your credit score and doesn’t mean the bank can see detailed information about late car payments or bills in collection.
Still, banks requiring that your checking account is enrolled in overdraft protection, in the form of a bank-issued line of credit, will require that you don’t have bad credit. The bank will conduct a “hard pull” of your credit report, meaning that the credit check itself will lower your credit score by 2 points. Our list of recommended national and local second chance banks in New Mexico include banks that do not use ChexSystems or check your credit history. Second Chance Banks in New Mexico