You may find it difficult to get approved; not because of your credit scores, but because you don’t have a bank account when you’re looking for a loan with bad credit. Exorbitant non-sufficient funds, way too many overdrafts, and bank that is even unpaid can place you in the denial list whenever you go to an innovative new bank and use for a merchant account.
Also you can hit yet another wall when you go to apply for a loan if you’ve learned to live without a debit card and checkbook. Many lenders require a bank account before agreeing to offer you a loan today. Luckily for us, it is fairly easy getting approved for the bank account once you try to find a non-ChexSystems bank or an additional opportunity bank checking account.
But you need a checking account (below) and which bad credit lenders are our favorites before you start browsing for those banks, find out why. (more…)