Alexandra Barring, Banking Moderator
@alexandra
You don't need a certain credit score to open a USAA checking or savings account, as there is no credit score requirement. USAA does not require a credit score for these accounts because they are deposit accounts, not loans or lines of credit. This means you can only withdraw or spend money you've deposited into the account, so your creditworthiness isn't really relevant.
To open a USAA checking or savings account, you must be at least 18 years old with a valid SSN or Individual Taxpayer Identification Number. USAA requires a minimum deposit of $25 to open an account.
Popular USAA Deposit Accounts
- USAA Classic Checking
- USAA Savings
- USAA Performance First
- USAA Youth Savings
Information USAA Could Check Before You Open a Deposit Account
While USAA doesn't require a specific credit score to open an account, they will likely check to see if you have an existing ChexSystems report. ChexSystems is like the credit reporting agencies, but for bank accounts.
If you've mishandled a bank account in the past - for example, by bouncing checks or failing to pay fees - you may have a ChexSystems report. Based on the information contained in this report, USAA may refuse to accept you as a customer.
In addition, even though there is no credit score requirement to open a USAA account, USAA may still gather your credit history from all three major credit reporting agencies as per their account disclosures. USAA may also report information regarding your account to these agencies.
Improve Your Credit With a USAA Credit Card
If you're concerned about improving your credit score or beginning to build your credit history, you could consider opening a credit card. It's possible to get a USAA credit card account even if you have bad credit. If you're unsure of where you stand, you can check your credit score (and review your credit report) for free on WalletHub.
People also ask
What is required to qualify for a checking account?
You don't really need to qualify for a checking account. Pretty much anyone who is at least 18 years old can open a checking account. Depending on the bank, you will need one or two forms of government issued photo identification, your social security number, and a utility bill.
read full answer by Alexandra Barring, Banking ModeratorIs it easier to get a checking account online or at a branch?
It's generally easier to get a checking account online. It can take just minutes there's no need for signatures or branch visits.
If your account is with a traditional bank you will have the option to conduct most or all of your business online or at a local bank branch. If it’s with an online-only bank, unless you are granted access to an ATM network, everything you do will be done online.
read full answer by Sydney Garth, Credit Cards ModeratorWhat is the best second chance checking account?
The best second chance checking accounts come with very few limits, low or no monthly fees and no minimum balance requirements. Some of the second chance bank accounts that are offered nationwide include:
- Chime - with no monthly fees and no minimum to open
- Varo Bank - no monthly fees and no minimum to open
- Peoples Bank Cash Solutions Second Chance Checking with a $4.95 monthly fee and a $30 minimum to open.
read full answer by Sydney Garth, Credit Cards ModeratorDid we answer your question?
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