Re: Bank of America Checking Account Question...

GST2008 · ‎03-09-2009

Does anybody know if BOA does a hard pull to open a checking account? I want to open a new account with them but am unsure if they pull a hard copy or a soft or use chexsystem. Any information would be appreciated. I'd really hate to waste an inquiry on a checking account.

Current:
TU (5/14/14): 796 (Inquiries; 8/23/13)
EQ (3/23/14): 791 (Inquiries: 8/23/13)
EX (9/24/13): 780 (Inquiries: 7/2/12; 11/20/12; 7/30/13; 8/23/13)

Goals: No new inquiries for 2014, 800 for all CRs by 12/31/14

Scamp · ‎03-09-2009

GST2008 wrote:
Does anybody know if BOA does a hard pull to open a checking account? I want to open a new account with them but am unsure if they pull a hard copy or a soft or use chexsystem. Any information would be appreciated. I'd really hate to waste an inquiry on a checking account.

Yes, they do, in general. Several members have been hit with hard inqs when opening checking accounts with them.

_____________________________________________________________________________
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02/12/09 EX: 701 / 02/08/10 EQ: 719 / 02/08/10 TU: 723

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smallfry · ‎03-09-2009

I got a soft pull but I applied for the checking account a few weeks after a credit card.

Anonymous · ‎03-09-2009

Last April I got a hard inquiry on EX when opening an account.

I don't know if they use ChexSystems or not, but I do know I have something reporting on there and got a checking and savings account.

Anonymous · ‎03-16-2010

Yes, they do. I know this topic is a tad out of date, it was just the first one that popped up when I searched. I didn't know they pulled a hard inquiry either. I have two credit cards with them and they pull a soft inquiry every month so I don't know why they would do a hard pull for a checking account. It was really frustrating to see when I bought my credit report this month.

Does anyone know why they do this? I'm sure there's some logic behind it, I'm just not seeing anything. I don't really understand why they would do a hard pull just because you decide to *let* them hold your money. Could anyone enlighten me on the subject, help me understand this particular practice?

Thanks

Anonymous · ‎03-16-2010

I have no idea the logic. Perhaps due to the old law of allowing overdraft without having the customer op out. So now that customers have to op in, maybe they will leave the credit reports alone as they won't be "extending" you money until you correct your overdrawn bank account.

Bank of America Checking Account Question...

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Bank of America Checking Account Question...