General Credit Topics

[casinoannie97]

I opened ING savings (direct) and linked it to my checking acct. at another bank,hence: no pull.

[Spudo769]

I recently opened an Electric account after having savings accounts since 2005. They did pull credit and I was given a choice of overdraft limits, $165, around $500 and also $1000. My credit score at the time was about 650 EQ, 690 EX and 675 TU.

[Guardian]

Wow, I guess I got lucky then.

[jacred]

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Spudo769 wrote:
I recently opened an Electric account after having savings accounts since 2005. They did pull credit and I was given a choice of overdraft limits, $165, around $500 and also $1000. My credit score at the time was about 650 EQ, 690 EX and 675 TU.

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Thanks for the info!  I am not certain what scores I will see when I check later this month, but this is a good reference - thanks!  Do you happen to know which score(s) ING checked specifically?

I looked at my reports for when I applied last October, and ING does not appear to be mentioned anywhere on my Experian report. 

It does look like a "hard pull" from Equifax (and actually, ING's rejection letter specifically said they used my Equifax report info).

The odd thing I'm noticing is ING is mentioned on my Transunion inquiries, but in the "Account Review Inquiries" section which states "The companies listed below obtained information from your consumer report for the purpose of an account review or other business transaction with you. These inquiries are not displayed to anyone but you and will not affect any creditor's decision or any score (except insurance companies may have access to other insurance company inquiries, where permitted by law)."

So did they also do a soft pull from TransUnion when I applied?  I'm not sure if that makes any sense...and it was at the same time as the inquiry from Equifax, so it's not as though the softed me a few months later...

[Spudo769]

I am not sure which ones they pulled. I do seem to recall a notice that they would be checking credit.

[pjxf99]

I opened checking with them after opening savings. They pulled EQ for the checking. Of course. It's my lowest score and creditors are drawn there like moths to a flame.

[jacred]

To my total shock, I checked my Equifax FICO score for the first time this morning and it was 720!  Way more than I was expecting.... I have two credit cards, 8 months and 6 months old, and as of today only two inquiries affecting my EQ score.

I went ahead and applied for a PenFed CC - application pending - and then applied for the ING Electric Orange account and was instantly approved!  I was given a choice of $165, $500, $1000 overdraft lines - I went ahead and selected $1000, as I couldn't think of any reason not to (I doubt I'll ever need to use the overdraft line at all, however).  I'm curious if this will report as a LOC on my credit reports...

Anyway, I'm really really excited to finally have the Electric Orange checking account!  I'll have to spend some time over the next few days switching around direct deposits and payments and whatnot.... excited I'll be earning 1.5% interest on my checking balance rather than 0%

[dannydannyFICO]

what exactly is a ChexSystem?

[Shogun]

Chexsystems is a service that keeps records mainly for banking institutions.  If  you've bounced checks, etc. then they have a record and the banks check with them before allowing you to open an account.

[jake619]

most definitely a HP for an EO checking even with preexisting savings account. it's because of the OLOC. also consider since your last app ING was purchased by Cap1. it will show up as Cap1 NA and not ING. I have used ING since 2010 and they were good but I've moved on. I really just dislike Cap1.  mine does not report but I've never dipped into the OLOC so it might be due to no utilization to report.

EDIT: I just realized how old this thread is.  CLASSIC.  I'm an idiot