As I mentioned earlier this week, I’ve been researching banks and decided to open an account with USAA, Alliant Credit Union and PenFed Credit Union. My transactions between USAA and PenFed continue to be excellent. Alliant Credit Union, however is a different story. I applied on Thursday and as of yesterday finally received notification that they received my application and wanted me to send in copies of my husband’s driver’s license, another form of ID and some sort of utility bill. I emailed all that back to them. Today, I receive an email that says a welcome package would be sent to us. I called Alliant to go over what actually is needed of us after we get the package and was told that my husband was approved for a checking & savings account, but I wasn’t. WTF?!? Why not?
They couldn’t tell me why I wasn’t approved and that I would be receiving a letter detailing why I wasn’t approved. And then, they told me that they did a hard inquiry into my Equifax report. I have never been denied a simple checking and savings account. When I asked what was on the report that would preclude me to be denied a simple checking & savings account, they Account Specialist couldn’t give me any information except that I would be getting a letter in the mail. They didn’t verify how much money we made or anything. I mean, if you’re going to run a full on credit report on me why not just ask me what my gross/net salary is?
In the end, I told them that my hubby would not be needing the account with them after all because we truly wanted a joint account. I’m a bit bummed out because I thought for sure they would be a great institution to join.
USAA will be our main checking/savings account and I will continue on with ING for the full emergency fund.
This conversation with them annoyed me enough to order a credit report. I’m going to go over with a fine tooth comb. I’ve never known a bank to deny a checking/savings account based on a credit report.