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Where can I open a bank account with bad credit?

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Quick Answer

CNN notes that consumers with bad credit who are not eligible for a traditional bank account may be able to open a second chance bank account. Banks such as Wells Fargo, PNC, Chase, Liberty Savings, Woodforest and BBVA Compass, among others, all offer second chance bank accounts.

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Full Answer

According to CNN, a second chance account has restrictions, such as ATM withdrawal limits, fees and daily balance limits, that other checking accounts may not have. After a consumer opens a second chance account and proves to be reliable in handling the account, the consumer may be offered a traditional account after several months. Chase offers a prepaid option that allows consumers to have a prepaid debit card and to make deposits at Chase ATMs.

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