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Frequent Contributor
Posts: 496
Registered: ‎11-13-2012
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Side Effect of ING's Acquisition

[ Edited ]

Now that CapOne has acquired ING Direct in the US, any new Electric Orange Checking accounts now report INQ's as "Cap One Na" (as on my EQ) - so it now looks like an HP from a subprime CC that will be tougher to explain, or maybe easier if you can convince a creditor it was just a checking account hit.  

 


GangnamFICO wrote:

Because the chicks dig it when I throw down the card to the waiter and...it comes in handy if I'm short on cash until payday and need a short spot. AMEX gets the booty, and that's important when you're a Pirate.


Minor vulgarity edit --Rev



Valued Contributor
Posts: 2,732
Registered: ‎08-13-2009
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Re: Side Effect of ING's Acquisition

Ugh.   We have a mortgage with ING and are working as hard as we can to pay it off!!!  I do NOT like Cap 1.

Established Contributor
Posts: 724
Registered: ‎06-06-2012
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Re: Side Effect of ING's Acquisition

Are you saying they do a hard inquiry for a checking account?

 

I was going to actually open a checking account with them but would not if that were the case

 

 

 

Frequent Contributor
Posts: 496
Registered: ‎11-13-2012
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Re: Side Effect of ING's Acquisition


compassion101 wrote:

Are you saying they do a hard inquiry for a checking account?

 

I was going to actually open a checking account with them but would not if that were the case

 

 

 


Most definitely, yes, ING will HP you for an EO checking account - not the savings though.  It's because of how they do their overdraft.  It's a $165 overdraft LOC that can be upped to $1K, but to establish that line it necessitates the HP.  I suppose you could decline the OLOC but I don't recall an opt-out option, and even if it was there and you were to opt-out, it might not prevent the HP anyway (a-la Ally).  I have been one of ING's biggest fanboys - they just kick ass - but the CapOne acquisition has me moving my checking elsewhere (and that's another story itself).  

 

 

Before you give your money to ING, consider who will really hold it.  Besides, you can get a better APR elsewhere for both checking and savings.


GangnamFICO wrote:

Because the chicks dig it when I throw down the card to the waiter and...it comes in handy if I'm short on cash until payday and need a short spot. AMEX gets the booty, and that's important when you're a Pirate.


Minor vulgarity edit --Rev



Senior Contributor
Posts: 3,067
Registered: ‎11-02-2009
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Re: Side Effect of ING's Acquisition


jake619 wrote:

Now that CapOne has acquired ING Direct in the US, any new Electric Orange Checking accounts now report INQ's as "Cap One Na" (as on my EQ) - so it now looks like an HP from a subprime CC that will be tougher to explain, or maybe easier if you can convince a creditor it was just a checking account hit.  

 



I doubt this.  Capital One serves the subprime market, but they serve the prime market also.  I don't think a lender would look at an inquiry from Capital One much differently than any other inquiry.  Your report is a whole picture in any event.  Everything else on your report is going to matter way more than a single inquiry from Cap One.


Starting Score: ~500 (12/01/2008)
Current Score: EQ 681 (04/05/13); TU 98 728 (01/06/12), TU 08? 760 (provided by Barclay 1/2/14), TU 04 728 (lender pull 01/12/12); EX 742 (lender pull 01/12/12)
Goal Score: 720


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