www.enire.com Free Credit Checking Does wells fargo do a credit check before giving you a free checking account? Does wells fargo do a credit check before giving you a free checking account? Banks do not do credit checks…they do a Chexsystems or Scan check that tells them if you have bad accounts with other banks or if you bounce a lot of checks. If you have a negative Chexsystems report or Scan report many banks will not allow you to open an account with them (80% of banks use Chexsystems). Every one is entitled to one free Chexsystems report per year, just like with your credit report). You can order your free copy at www.consumerdebit.com … /index.htm. It comes in the mail you cannot view it online like your free credit report. Negative information stays on your Chexsystems report for 5 years after the bad debt is paid…so if it takes you 5 years to pay the bad debt then the negative info will stay on your report for 10 years. My bank is offering a free credit report, but I have heard that checking your credit can actually be bad 4 it. I’m not worried about hidden fees or any of that sht, I’m very careful. Just wondering if it will have an adverse effect on my credit. Too many inquiries into your credit drive your credit score down. The reason? The credit models do not take into account the “shopping for a good rate”, it sees it as being unable to obtain financing. Checking your credit report is a good thing to do once a year (some say twice) to be sure you have …
