You may find it difficult to get approved; not because of your credit scores, but because you donвЂ™t have a bank account when youвЂ™re looking for a loan with bad credit. Extortionate non-sufficient funds, way too many overdrafts, and also unpaid bank costs can place you in the denial list when you attend a brand new bank thereby applying for a merchant account.
Also you can hit yet another wall when you go to apply for a loan if youвЂ™ve learned to live without a debit card and checkbook. Most lenders now need a bank-account before agreeing to provide you that loan. Luckily for us, it is fairly easy to have authorized for a bank account once you seek out a non-ChexSystems bank or an extra opportunity bank checking account.
But before you begin searching for those banks, discover why you may need a bank account (below) and which bad credit loan providers are our favorites. Continue reading