Americu Credit Check on Account Opening?

UprightStone · ‎09-24-2013

I am considering opening an account at a local credit union that has pretty good rates. I just wanted to get established with them with a savings account. During the process to apply online, I see:

By checking this box I agree to be bound by the terms and conditions of the Membership and Account Agreement, Service Fee Schedule, Truth-in-Saving Disclosures, Electronic Funds Transfer Agreement and Disclosure, Funds Availability Policy, & Privacy Notice Disclosure which I have received electronically above. (Please download and save a copy for your reference.) I authorize AmeriCU Credit Union to obtain a credit report from a credit reporting agency, to verify eligibility for the accounts and services in connection with this request for membership.

I am guessing this would be a hard pull? I was hoping to be able to keep my HPs down. Right now I have 4, which one being a year old in November. I suppose there is no way around this hmm? Maybe it is a soft pull?

llecs · ‎09-24-2013

Most usually there's a HP when opening any deposit account like a checking or savings, especially at CUs.

takeshi74 · ‎09-25-2013

@UprightStone wrote:
I am guessing this would be a hard pull? I was hoping to be able to keep my HPs down. Right now I have 4, which one being a year old in November. I suppose there is no way around this hmm? Maybe it is a soft pull?

You'd only avoid it by not opening the account. It will be a hard pull.

UprightStone · ‎09-25-2013

Would anyone here consider 5 hard pulls as a lot?

llecs · ‎09-25-2013

@UprightStone wrote:
Would anyone here consider 5 hard pulls as a lot?

I used to have approx 20++ on any given report in my early credit days, and all of them were under a year. So, 5 isn't too shabby, IMO (but certainly don't add inquiries for the sake of adding inquiries).