As loopholes close with credit cards, churning bank account bonuses is becoming more and more popular. Often financial institutions will pull your ChexSystems report, this is similar to your credit report that is maintained by Experian/Equifax/TransUnion but tracks deposit accounts instead. One of the main throttles to signing up for bank account bonuses is that some financial institutions are ChexSystems inquiry sensitive. This makes it important to track the financial institutions that pull your ChexSystems report and also the ones that are ChexSystems sensitive.
How To Calculate Your ChexSystems Inquiries
There are a number of ways to do this:
- You can of course just manually calculate them
- Create a new text file, copy and paste this code into it, save it as a .html. This will give stats for one month, three months, six months, 12 months and 24 months. This has been put together by multiple readers over time (based on Theo’s version with tweaks from Pickle Rick & mothman69)
There are two main things that should be shared when it comes to your ChexSystems data with the community.
- If a financial institution pulled your ChexSystems report. This can either be shared on the individual bank bonus page or the master thread here.
- If you were approved for an account and what your ChexSystems count is. This can either be shared on the individual bank bonus page or the master thread here. You should try to provide the most complete data possible and in the following format:
- Approved with 1/1, 2/3, 12/6, 14/12, 27/24, (this means the person was approved with one inquiry in the last month, two in the last three months, sixteen in the last twelve months and twenty-seven in the last twenty-four months)
- Denied with 4/1, 6/3, 16/6, 50/12, 56/24 (this means the person was denied with 4 inquiries in the last month, 6 in the last 3 months, 16 in the last 6 months, 50 in the last 12 months and 56 in the last 24 months)
F.A.Q’s
I’m lazy, can I just say lol/24 if I’ve signed up for lots of accounts?
Ultimately you can do whatever you want, but the more complete data is the more useful it is. For example recently we were able to determine that Four Leaf Federal Credit Union is ChexSystems sensitive but they mostly care about how many inquiries you had in the last month because people shared more complete data. This will allow many more people to be able to get that bonus.
How do I obtain my report?
More information here.
