01-24-2017 11:03 PM - edited 01-24-2017 11:04 PM
I am interested in switching my checking over from BoA to Fidelity or Charles Schwab. I don't have investments with either, but both accounts look very attractive.
I want no ATM fees, and I heard that Charles Schwab doesn't charge foreign transaction fees either. Can anyone confirm this?
Does the CS give you a debit card? I don't see the picture of it on their site.
If anyone has experience with either or both, please write about it.
01-25-2017 05:03 AM - edited 01-25-2017 05:05 AM
I use Charles Schwab as my main account. ATM fees are reimbursed once a month and yes there are no foreign transaction fees.
This is what the debit card looks like.
01-25-2017 08:17 AM
It looks like they do an HP to open a checking account. Do you know if they require anything specific? I have a relatively short credit history and would like to use them just for checking purposes.
02-10-2017 11:38 PM
02-11-2017 11:17 AM
I use both. I originally wanted to compare the two, but as they both have their advantages, I have found no reason to choose one over the other. The accounts are equal in that you can order free checks, use free billpay tools, free Visa debit cards, and both provide access to brokerage services and research tools.
There are also instances where one account has an advantage over the other.
Fidelity advantages over Schwab:
Schwab advantages over Fidelity:
As I mentioned earlier, I like both, so I am perfectly fine with having multiple types of accounts.
02-11-2017 06:10 PM - edited 02-12-2017 09:04 AM
Just opened a checking account (and required investor account) at Schwab; waiting to see if there's an HP or not as I noticed in their default application they had "margin account" checked and that absolutely is a HP with everyone. I unchecked it as all I want is access to their fantastic debit card for when I need cash overseas.
Wanted to thank everyone for the information about both of these, greatly appreciated!
Edit; yup, HP on Equifax, guess I should've just picked up the margin account now even if I don't expect to ever use it haha.
Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.† Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
* For complete information, see the terms and conditions on the credit card issuer’s website. Once you click apply for this card, you will be directed to the issuer’s website where you may review the terms and conditions of the card before applying. While myFICO always strives to present the most accurate information, we show a summary to help you choose a product, not the full legal terms - and before applying you should understand the full terms of products as stated by the issuer itself.
IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more
FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.