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So I recently came across a coupon to recieve $150 after opening a new Chase Checking account. At first I was ready to go in and open a new account, while still leaving my CU account open. I was wondering though, does Chase do a HP of your credit if you open a savings/checking account with them? If so, then forget it..
I opened my Chase account in 2009, I don't remember for sure but I believe they did a HP not to mention an inquiry on our wonderful friend ChexSystems...lol.
Well I may go into a branch when I have time, and see if they can open it without a HP. I don't see why they would need to...
@logan_720 wrote:Well I may go into a branch when I have time, and see if they can open it without a HP. I don't see why they would need to...
Employees are not always correct with this question. I do not see why any bank or credit union needs to to open an account but they do. I do not think it is a hard pull though. I opened one in 2010 and it was not on my reports when I looked earlier. I just opened one today so tomorrow I will check creditkarma and request an updated Experian report to see if they did. I already have two credit cards with them though so my identity is already known.
They check chexsystems. Its to prevent money laundering and terrorism. they need to check this along with social and DL
They didn't do a HP on me. And I've gotten/received the $150 offer TWICE. You can do one per year.
But every bank does check ChexSystems/Qualifile.
They want to see if you have any past delinquencies with any other previous financial institutions.
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@logan_720 wrote:Well I may go into a branch when I have time, and see if they can open it without a HP. I don't see why they would need to...
Chase and the other national banks do not.
Credit Unions typically do because they're member owned: namely, they're only as strong as the members they have, and if you're a complete deadbeat, that just drags the membership pool down. Whether they really should or not, I don't know: they can always do a pull for any sort of credit application; however, they all (or most) seem to do it for membership. I don't see why they'd be remiss to let nearly anyone to put money into a share account, in fact I would think they encourage it but my EQ report shows a bunch of HP's from CU membership apps.
On the otherhand my wayward application to PSECU (didn't read the fine print, oopsie) resulted in a soft inquiry on EX, so maybe things are changing somewhat.