topic Re: BOA new Accounts and ChexSystems in General Credit Topics

BOA new Accounts and ChexSystems

bengalih — Tue, 08 Jan 2013 22:37:46 GMT

Hi all -

I'm looking at opening a new account at BoA. I was worried that they might do a hard pull so I called 3 different branches in the area.

All told me no hard pull, with 2 going so far to tell me what they do is use ChexSystems.

I see quite a few older posts (pre-2009) that seem to indicate that BoA did do hard pulls (sometimes with or after a ChexSystem pull).

How much faith can I put in what they are telling me (ChexSystem only)? And is a ChexSystem pull safe regarding my credit score?

Thanks!

Re: BOA new Accounts and ChexSystems

llecs — Wed, 09 Jan 2013 02:16:43 GMT

Always assume that the credit-related CSR giving the advice is wrong. IME, they are wrong. I opened a checking and a savings on different days and a hard inquiry was placed for each. Now that was in 2007 and maybe they change, though I doubt it.

A Chex pull has no bearing on your credit. Chex is it's own CRA.

Re: BOA new Accounts and ChexSystems

bengalih — Wed, 09 Jan 2013 02:19:47 GMT

Yeah I have found a lot of posts from 2007 and 2009 stating various institutions were doing hard pulls - BoA listed among them. But, I haven't seen anything recent that claims they still do that.

I wonder if they got wise to the fact that people don't like thier credit being pulled. Both of the reps that mentioned CreditChex did so without me urging - they seemed to know exactly what I was talking about and said they just did a CreditChex with my SSN and no hard pull or other credit inquiry was done.

I'm hoping someone with fairly recent accounts can chime in on their experience.

thanks.

p.s. Do I have any recourse if they do a pull after telling me they wouldn't?

Re: BOA new Accounts and ChexSystems

llecs — Wed, 09 Jan 2013 02:24:34 GMT

bengalih wrote:

p.s. Do I have any recourse if they do a pull after telling me they wouldn't?

There are a lot of posts in here concerning other creditors whereby the creditor swore to the customer that there would be no hard pull, only to there be a hard pull. Make the assumption that they are wrong. Get any promise for a soft pull/no pull in writing. Only then would you have recourse, otherwise it would be your word against theirs.