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Regular Contributor
Posts: 155
Registered: ‎06-12-2007
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Online checkings accounts without hardpull??

[ Edited ]
Does anyone know which Online Checking Accounts don't do hard pulls?
 
I had ING Electric Orange for about a few months before they took it away because of a low credit score. The policy at ING when I got the account was "we won't check your credit, and give you free overdraft protection".. ING did a soft pull back in April and closed my account in May. Really I didn't care about OD protection. The paperless checking account was cool. Unfortunately the account comes with OD protection and they do not offer an account without OD protection. Seems ING was afraid I might take my $250.00 in OD protection and move to Mexico.. At first I was unhappy about this, closing an existing checking account. But they will never get any of my money. ING changed the terms to do Hard Pulls for every applicant.
 
I went to HSBC and they did not do any pull my credit to start up a checking account.
 
What about WAMU? or any of the other big ones?



Message Edited by Pants on 07-18-2007 08:28 AM

Message Edited by Pants on 07-18-2007 08:29 AM
Frequent Contributor
Posts: 328
Registered: ‎05-18-2007
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Re: Online checkings accounts without hardpull??

WAMU did a soft pull on me when I opened my new checking and savings accounts with them.
Valued Contributor
Posts: 1,084
Registered: ‎06-24-2007
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Re: Online checkings accounts without hardpull??

I want to open account with Wachovia online. I want to know if they do hard pull. I want to opne account with them because they offer secured loans through savings and that would improve myfico score. Does anyone ahce wachovia account?
Thanks
 
Established Contributor
Posts: 570
Registered: ‎05-02-2007
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Re: Online checkings accounts without hardpull??

I reviewed all the info on ING before opening ONLY a savings account.  I heard it's exceptional for saving and when I know my score is good with FICO I will apply for the checking with OD because you are right, paperless would be ok...tip - be sure to still print your monthly info as you never know when you'll need it.
 
However, I am curious - I didn't read anywhere they close the account based on FICO scores...what will happen to some people when the FICO calculating changes?  Many accounts will be lost!
Contributor
Posts: 96
Registered: ‎04-04-2007
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Re: Online checkings accounts without hardpull??

One United Bank 5.00% interest on savings. www.oneunitedbank.com

Pants wrote:
Does anyone know which Online Checking Accounts don't do hard pulls?
 
I had ING Electric Orange for about a few months before they took it away because of a low credit score. The policy at ING when I got the account was "we won't check your credit, and give you free overdraft protection".. ING did a soft pull back in April and closed my account in May. Really I didn't care about OD protection. The paperless checking account was cool. Unfortunately the account comes with OD protection and they do not offer an account without OD protection. Seems ING was afraid I might take my $250.00 in OD protection and move to Mexico.. At first I was unhappy about this, closing an existing checking account. But they will never get any of my money. ING changed the terms to do Hard Pulls for every applicant.
 
I went to HSBC and they did not do any pull my credit to start up a checking account.
 
What about WAMU? or any of the other big ones?



Message Edited by Pants on 07-18-2007 08:28 AM

Message Edited by Pants on 07-18-2007 08:29 AM


Regular Contributor
Posts: 155
Registered: ‎06-12-2007
0

Re: Online checkings accounts without hardpull??

[ Edited ]
ING Direct is a wonderful place to have a Savings Account. I had about a dozen of them and used them for budgeting purposes. I would save a little bit of a paycheck for car payment, house payment, emergency savings, vacation savings, Pet Emergency savings.. and the list went on and on and On.. I never got burned for doing over 5 withdrawals a month. But I know of people who claim on message boards they were.. I got really upset with ING Direct for initially offering an Electronic Orange Checking account. Then having it yanked away a few months later because of a low credit score. You can do a google search and find other forums of people talking about it. ING did some Spring cleaning and (as I understand) closed about 10,000 Electric Orange checking accounts. I believe it says in the terms they will do periodic credit pulls and if you fall below the guidelines they will close the account. I believe just about anyone has the ability to have rough times at one point or another in their lives. So I probably wouldn't recommend the EO Checking account with anyone. If you use the Checking Account, don't sign up for direct deposit.. There were people who used the entire $1,000 Overdraft protection line. When ING closed the account the OD protection got paid right off the top with the next deposit. Leaving the account holder with NOTHING. or still like a -100 or -200 balance if the Direct Deposit was below $1,000.00.. ING initially made the mistake of giving out these accounts with no credit check. AND really there was no due date to pay off the OD protection line unless you were over the limit. The interest and whatever took you over the limit was immediately due. I don't recall seeing Over the limit fees.. And at that time it said in the terms they would not report the OD protection to any of the credit bureaus. In April or May the terms were changed.. :smileyhappy:It was a really sweet deal, but then too many people took advantage of the loose terms.. ING had to change the policy.

Message Edited by Pants on 07-18-2007 10:18 PM

Message Edited by Pants on 07-18-2007 10:25 PM
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