Second Chance Checking

• Your local banker might be able to set you up with a Second Chance Checking account.Keith Brofsky/Photodisc/Getty Images
  
  It wasn't too long ago that a few dings on a credit report could easily torpedo an applicant's attempt to open a bank account. Enter Second Chance Checking, a special type of account for people with less-than-impressive credit scores. While most come attached with rules that must be followed to keep the account active, they are generally easy to comply with. Some require that you enroll in direct deposit; others specify a minimum balance; and others, like Wells Fargo, merely require an automatic monthly transfer of $25 from checking to savings, even if the customer transfers it back every time. If you don't like the rules being enforced by one bank, you can take your business elsewhere. There are banks in all 50 states that offer Second Chance Checking programs.
  
  

Work Relief

• In the absence of Second Chance Checking opportunities, you might stand a chance of having your credit issues overlooked at your employer's bank, especially if you work for a big company. One way that banks stay afloat is by charging interest on loans, which come from the money their customers deposit. So accounts that regularly show a zero balance don't do banks a whole lot of good. However, if your employer is an account holder, the bank will feel safe knowing your paycheck will have no trouble in clearing each pay period, even more so if you sign up for direct deposit.
  
  

Credit Union

• If you can't get an account at a bank, try a credit union. They differ from banks in that they are non-profit organizations owned by their account holders. With less money going out, more money is funneled back to customers/owners in the form of higher interest on savings and checking accounts, and lower rates on credit cards and loans. Furthermore, credit unions are bound by a less stringent set of application requirements than banks, increasing your odds of being accepted.
  
  

Guaranteed Option

• Prepaid cards can be used anywhere bank-issued debit cards are accepted.Jupiterimages/Creatas/Getty Images
  
  If all else fails, you might consider getting a prepaid debit card. Walmart, for example, offers a Visa card for a service fee of $3 per month. Your paycheck can be deposited directly into the account and the card can be used anywhere a bank-issued card is accepted. Best of all, there's no credit check and you won't be turned down. On the other hand, no checks are issued with prepaid accounts, so you can only access your money by using a debit card. Also, if you're looking to improve your credit, maintaining a prepaid account won't help because issuers of prepaid cards don't report to credit bureaus.