When i opened a broker account they pulled none and when i got the e*trade visa on 2/2002 they pulled Experian
George, Many brokerage firms do pull credit reports. Particularly, if you open a margin account. PArt of the due dilegence know your customer mantra.
Hi, I am wanting to know if they pull chexsystems and what cb they pull when you apply for a bank account. Do they do all of this after you send them your opening deposit or online when you apply? I applied for a bank account and all the screens came through okay, I called in and they said I was approved and everything was fine. I am wondering if they wait until they have your money before they do the checking out on you. That was not the impression I got from the reps I spoke with, but you never know.
Scottrade pulled EQ, DATEK pulled TU and Brokerage America pulled EQ on me. All these accounts were cash only. I don't think brokerages should be allowed to pull unless you have a margin account, but they do anyways.
iamsamiam: Any new info on the E*Trade account application? I'm following your lead...did the application...printed out the info. and mailed it yesterday. Haven't called yet, but will let u know if i hear anything. DB
I opened brokerage account six months ago and have check/atm card for the account. No inquiries. Only problem is if you make a stock trade, your available funds are frozen for three days. Even if you make a trade for $100 and you have $5000 in the account, it is all frozen for three days! Pain.
Hi Davey, I ahven't heard anything, they tell me on the phone that I am approved and everything is fine, but it seems just a little too easy? Maybe I am paranoid and everything is fine. Keep me updated on what you find out, I am wiring my money in tomorrow. It is only a $100 so if they decide to not give me the account I am not out much.
$5,000 "HOLD" ON A $100 CHARGE SOUNDS AS GOOD AS THE $10,000 "HOLD" ON MY ACCOUNT BECAUSE NEXTCARD OWED ME ABOUT $100!!! They said you are NOT allowed to use the card when it has a NEGATIVE BALANCE... ...so they had to send me a check so the balance was $0.00 again!!!
I completed the application last night and mailed my deposit today. It also told me I was 'approved'. I know I am in Chexsystems. Not sure of the amounts, but I do know that any accounts showing on Chexsystems is from 12/96 or so.
Chex items fall off five years to the day that they are reported, you should be free and clear of them.
Davey, I have pulled my Experian and Equifax reports, unless they checked TU then they did not run any reports on me. I am betting that they wait to receive your deposit before they run the checks. What do you think?
iamsamiam: Good question. Personally, I'd think it'd be a waste of their time and money to wait until they recieve the deposit to run a report and then deny it and have to cancel everything and do a refund/return. If they ran a report initially, it'd be much easier for them to say "hey, don't bother w/ the deposit..you're denied.". PS. I did the online authorization for them to ACH the $ from my current checking acct. I think they said they'd wait for my signature card before doing the wire. Mailed it on Wed., nothing yet. I'll keep u informed. Just my thoughts... DB
