What should I do?

[jmbfl]

I recently applied on-line for a MyAccess checking account from BofA. I already have a credit account with BofA. I asked before applying if there would be a hard inquiry and was told no by several rep's. This was a week ago and so far there has been no inquiry.

However, in the materials I agreed that I had read and assented to as part of the application process I found the following section. Hopfully this settles the matter. Like or not you agreed to it!

Credit Reports and Other Inquiries

We may make any inquiries that we consider appropriate to

help us verify your identity and determine if we should open,

maintain, collect or close your account. This may include verification

of employment and credit reports or other reports from

account information services and credit reporting agencies.

If you ask, we will tell you whether we requested a credit report

and, if we did request a report, we will tell you the name,

address and telephone number of the reporting agency.

[Anonymous]

When filling out the application for a checking account, the section that ask why your social security number is used states this:

  Your Social Security Number

We ask for your Social Security number so that we can pull your credit bureau data, which in turn assists us in processing your application.

[jmbfl]

FYI - Here is the section that pertains to identification:

Identification

Federal law, including the USA PATRIOT Act, requires all financial

institutions to obtain, verify and record information that

identifies each customer who opens an account with that financial

institution.

When you apply for an account, we will ask for your legal name,

address, date of birth and your Tax Identification Number (TIN).

We may require one or more forms of unexpired photo identification.

We may validate the information you provide to us to

ensure we have a reasonable assurance of your identity. We

may contact you for additional information. If your account is

funded before we verify your information, you may not have

access to your funds. If we are not able to verify your identity

to our satisfaction, we will not open your account or we may

close the account if it was previously funded.

[Anonymous]

I have the online app pulled up now but do not need another checking account. I just thought I would check to see if something regarding them requesting your credit was disclosed, and it is.