@DaveInAZ wrote:
@ThriftySaver wrote:
These reports are used by banks and credit unions when opening accounts. But once the account has aged do the banks still pull these reports from time to time? Or only when new accounts are opened? Also, do banks have hard pull and soft pull on these reports or is it everytime a bank views your report it shows up on these systems?
Banks/credit unions might "soft pull" Chex from time to time to review, but it won't show up on your Chex report that can be seen by anyone other than you. I pulled my Chex report last January and at the end it lists "Inquiries viewed only by you", it listed 3 "reviews" by a CU I had accounts with.
But many do pull Chex again if you open a new account even if you already have an an account with them, especially credit unions. I had a savings account with OneAZ CU, which allows up to $500 in CC funding for new accounts that codes as a purchase. They have accounts they call "Club Savings Accounts" and you can have up to 10. So I opened 1 per month for 3 months for the rewards on my PayPal MC. When I pulled my Chex I saw I had 4 inquires from them, so I shut everything down. I do bank account bonuses regularly so $10 in CC rewards isn't worth a Chex HP. I also had a checking account with BMO Harris Bank a couple years ago, I opened a savings account a month or so after the checking an saw they pulled Chex again. And as indicated in other posts, EWS reports everything.
@DaveInAZ
You just did me a solid. I was going to troll for someone here to refer me for memebership in this CU. But like you concluded, it is not worth it if messes up you Chex reports.
I wonder what would happpend if people froze the Chex and EWS reports?
