Decided to open a second checking account to give my daughter a debit card she could use for college applications, travel expenses, etc. Just went through this last year w/my son and the last minute calls to get my CC number to submit online were something I wanted to avoid this time around. So I fill out the paperwork and since I've had an account w/them for 8 years, figured it was pretty straight forward. Pull my EQ and find out they pulled an inquiry. There was no credit line or CC associated w/this account, just regular checking. Anyone else get this recently? I intend to challenge them on the inquiry, of course, but I'm wondering how common this is. If I wind up pulling my account over this, am I going to get another ding? For everyone's benefit, it is Citizen's Bank.
Ok.. BUT I had an account w/them, plenty o' history, and there's nothing different here from what existed before (no cc, no overdraft) - and this is their top tier checking account, have my IRA there...
Anymore, I think that most major banks are doing a credit check to open any type of account. DH & I have a checking account with BofA and when we decided to open a savings account they did another hard inq. paw67
THEY CAN PULL...THEY DON'T HAVE TO...LIKE THERE IS NO LAW THAT MAKES THEM!!! You can ask UP-FRONT "IF" they pull..."IF" they do...take your money and run!!! Don't run too fast since you will pass the bank nextdoor!!!
BE UP-FRONT WITH THEM...my business is granted to you "IF" you DON'T do a credit report...DO YOU WANT THE BUSINESS???
Because the legal titling of the account is most likely different than your other accounts (you have a new account for your daughter who is on the account), this is most likely why a soft inquiry was pulled. (It was a soft inquiry, right?) Banks CAN use all sorts of means to verify financial responsibility before granting a new banking account to a new customer.
George, on the money guy - it was a HARD inquiry. I would not get upset about a soft. My daughter had NOTHING to do w/the account - she's 17, I was told she CAN NOT have an account since she can't sign a contract. This is an additional account, added to my existing checking, savings and IRA accounts. Because I have "circle checking", their highest tier (covered by a substantial deposit in the IRA), the second account is a fring benefit. I don't care what's "routine" out there, this burns my ass and I will stick it back up theirs. I intend to apply for a mortgage in the next six months and now I have to wait longer for it to slip off?
Re: Re: inq on straight checking account? 2 YEARS (usually) "THEY" say it does not HURT after 6 months...
Re: Re: inq on straight checking account? ...BUT "THEY" also say PAYING OFF ACCOUNTS does not hurt either!!!
Re: Re: inq on straight checking account? GEORGE your hysterical. I do know of several banks that DO NOT pull bureaus...just ChexSystems. And The original poster said Citizens Bank? Are you in Michigan? I am and want to know if this is the same bank. If so, the funny thing is I opened an account with them 2 months ago and they just did the Chexsystems. SnakeMan
Re: Re: Re: inq on straight checking account? I don't care about CHEXSYSTEMS... I care about the F.I.C.O. "HIT" ON MY SCORE THAT IS TOTALLY UNNECESSARY!!!
Re: Re: Re: inq on straight checking account? I would not care about ChexSystems, I've got "nothing" on their report, just got a copy recently. They (Citizen's Bank, MA) would know if I bounced any checks because they've had my account for the last 8 years! BTW, I don't think any paperwork I signed said anything about a credit check. I was in a hurry, meant to ask, but I did look quickly.
