Does Your Credit Score Affect Opening a Checking Account? What You Should Know Before You Apply

Opening a checking account sounds simple enough, right? Walk into a bank, fill out some forms, and boom — you’re in. But here's something that might surprise you: your credit score (and even your banking history) can affect whether a bank approves your application.

If you’ve been denied a checking account or are wondering how major banks and credit unions evaluate new customers, this guide breaks it down — including how companies like Early Warning Services (earlywarning.com) and banks like First Tech Credit Union come into play.

💳 Does a Credit Score Matter When Opening a Checking Account?

Yes — but not always in the way you think.

Most banks do not check your credit score (like a FICO score) when you apply for a checking or savings account. However, many do check your banking history using specialty consumer reporting agencies like:

• ChexSystems

• Early Warning Services (EWS) — owned by major banks like Bank of America, Wells Fargo, Chase, etc.

• TeleCheck

These agencies track how you've managed bank accounts in the past — overdrafts, unpaid fees, bounced checks, fraud flags, and even account closures.

So while your credit score might not be the primary factor, your past banking behavior absolutely is.

🕵️‍♂️ What Banks Are Looking For

When you open a checking account, banks are typically reviewing:

• If you've ever overdrawn and failed to repay the account

• Whether you had an account closed for misuse or suspected fraud

• If you've opened and closed multiple accounts in a short span (a red flag for bonus churners)

• Identity verification (sometimes includes a soft credit check)

Being flagged by EWS or ChexSystems can result in denied applications, especially at major banks.

🏦 What to Know About Opening Accounts at Major Banks

Most major banks (Chase, Bank of America, Wells Fargo, etc.) use Early Warning Services to screen applicants. If you're on their radar, you might run into some trouble. Here's what to expect:

• Application may be denied if negative reports are found

• You may be asked for additional ID verification

• Some banks offer second-chance accounts with limited features for people trying to rebuild banking history

👉 Want to see your file? You can request a free consumer report from Early Warning at earlywarning.com.

💡 Tip: Credit Unions Like First Tech May Be More Flexible

Credit unions, especially member-focused ones like First Tech Federal Credit Union, tend to be more lenient than big banks.

• They may still check your ChexSystems report, but they often consider the bigger picture — like your current income and reason for past issues.

• Many credit unions offer fresh start checking or rebuild options, and they prioritize helping members over strict policies.

• First Tech also offers digital-first features and personalized support, making it a solid alternative to traditional banks.

If you’ve been denied at a big-name bank, looking at credit unions like First Tech can be a smart next move.

✅ How to Improve Your Chances

Want to make sure your checking account application gets approved? Here's what helps:

1. Check your ChexSystems and EWS reports for errors or negative marks.

2. Resolve unpaid balances with former banks.

3. Be honest on your application and bring multiple forms of ID.

4. If denied, ask about second-chance accounts or credit union alternatives.

5. Build positive history by keeping your account in good standing (no overdrafts, maintain a balance, etc.).

While your credit score might not be the main player in opening a checking account, your banking history definitely is. And with systems like Early Warning Services quietly influencing major banking decisions, it pays to know where you stand.

Whether you’re going with a big-name bank or a member-first credit union like First Tech, being proactive about your financial history will help you open — and keep — the account you need.