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Synchrony Won't Open CD - Checksytems

Rickny
  |     |   1,297 posts since 2017

Attempted to open CD with Synchrony and both me and my wife said refused due to Checksytems. Have had accounts with them in the past and a current Lowe's credit card. Opened the same length CD and rate at Marcus with no problems and an easy process.

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Rickny
  |     |   1,297 posts since 2017
Never had a late payment, carried a balance or bounced check. I'm a rate chaser and that has been the reason in the past according to a bank rep when I had a Checksytems denial. . This is actually the 3rd time I have been refused with Checksytems as the reason. My report has over 50 accounts listed.The reason may be because I have opened 3 CDs in the past month. As I noted just opened large CD with Marcus and hao problems.
Also my ChexSystems report is clean and no problems as I looked at it a month ago.
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txFish1
  |     |   479 posts since 2023
Rickny My sister has the same issue. No bounced checks or late payments but she has opened over 20 accounts in the last couple of years trying to get the most out of her money with CD's and she has been denied several times recently because of Chexsystems when she went to open new accounts.
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Kaight
  |     |   1,192 posts since 2011
I received a similar rejection, from a different FI, in yesterday's mail. It clearly stated ChexSystems as the reason. Advised me to telephone them if I had any concerns or issues.

Honestly, did you ever try to call ChexSystems and obtain straight answers? It's a fool's errand.

Ken has been in pursuit of this wonderful undertaking for a great many years. I would venture to say this is his life's work, helping others with their banking, and it is highly commendable. But ChexSystems has viciously undercut so much of what Ken has achieved and accomplished. Theirs is a most malign enterprise.
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Rickny
  |     |   1,297 posts since 2017
I myself don't really care. I just go to another bank and don't have a problems. It's not Checksytems doing the denial, it's the institution that makes the call.

If they don't want my funds, I won't do business with them. I'll keep my Lowe's CC issued by Synchrony as I get 5% off at Lowe's and every couple of months they give you a 1 time shot at 10%.
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Rickny
  |     |   1,297 posts since 2017
I don't think missing out on a "killer rate" would concern me that much. I haven't run into a problem where I lost out on a killer rate.

Looks like the days of the "killer" Penfed like rates are over. Maybe you'll find a short term rate that is exceptional but not worth chasing.
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