Recently open a Charles Schwab checking acct?

[M_Smart007]

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@jasonbourne84 wrote:

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@M_Smart007 wrote:

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My opinion is they would not open it, if your report was'nt up to their requirements.

I doubt they would open it just to close it. If you really want the account(s), you are going to have to risk a HP for it.

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It sounds strange, but the majority of rejections appear to happen after the fact. 

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Interesting. Have not read that part. I opend mine 25+ years ago, don't even know if they checked my credit back then? LOL

[Anonymous]

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@jasonbourne84 wrote:

I'm trying to figure out what their credit requirements are, in terms of FICO score, derogs/delinquencies on reports, etc. 

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oh. I think my score was around 640-ish and I had one negative (collections). Actually for some reason the HP just fell off from EQ, or at least that's what credit karma says 😂.

[coldfusion]

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@Anonymous wrote:

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@jasonbourne84 wrote:

I'm trying to figure out what their credit requirements are, in terms of FICO score, derogs/delinquencies on reports, etc. 

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oh. I think my score was around 640-ish and I had one negative (collections). Actually for some reason the HP just fell off from EQ, or at least that's what credit karma says 😂.

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Check if it's still gone after your next CK score refresh, occasionally CK will mistakenly report a dropped HP only to have it quietly reappear. 

[M_Smart007]

This might be of some interest!

https://www.doctorofcredit.com/schwab-brokerage-removes-hard-pulls-for-new-checking-brokerage-custom...

[randomguy1]

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@M_Smart007 wrote:

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@jasonbourne84 wrote:

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@Guyatthebeach wrote:

The negative thing on my CR is my chapter 7 bankruptcy from Nov 2011. 

I have not had any issues issues since then.

Guyatthebeach

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Very nice work! Unfortunately, I've got some fairly recent delinquencies from a really rough period in 2018 that have me worried. I REALLY want this checking/brokerage option! But I don't want to apply only to have it closed a few days later. Sigh. 

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My opinion is they would not open it, if your report was'nt up to their requirements.

I doubt they would open it just to close it. If you really want the account(s), you are going to have to risk a HP for it.

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Last July or August they closed my account several days after for something on my CR. I had a few thousand in there...  I tried to reopen but it indicated I have to mail in an application or call a number... "Please download the Schwab One® Account Application , complete it and submit it by mail. For assistance, please call us at 866-232-9890."

On a sidenote, my HP was gone as of last night. 

[SpiritSoul11]

Hey guys, so I am interested in in getting the Charles Schwab checking account as I live as an expat in a foreign country at the moment. They offer rebates on all ATM fees with 0% foreign transaction fees. Does anyone have any experience with them? How long does it take to get approved for the checking account? After I signed up, they allowed me to login to the brokerage accoint, but the checking account hasn't been approved yet. I plan to transfer $100 to the account once it's approved, and move my direct deposit over. Are there any qualifications I need to meet before getting this account? Thanks so much!

[Mr_Mojo_Risin]

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@SpiritSoul11 wrote:

Hey guys, so I am interested in in getting the Charles Schwab checking account as I live as an expat in a foreign country at the moment. They offer rebates on all ATM fees with 0% foreign transaction fees. Does anyone have any experience with them? How long does it take to get approved for the checking account? After I signed up, they allowed me to login to the brokerage accoint, but the checking account hasn't been approved yet. I plan to transfer $100 to the account once it's approved, and move my direct deposit over. Are there any qualifications I need to meet before getting this account? Thanks so much!

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I believe @M_Smart007  has some dealings with Schwab. They may be able to assist?

[ZehTy]

I opened my account in December of 2017. If I recall, there was option to open a checking account and then it forced you to open the brokerage account along with it. Both were created at the same time for me. 

When you signed up? Did you pay attention to what it was asking to sign you up for? The Checking account option is the last option on the bottom of the signup page. Once you proceed, it then tells you it is opening a brokerage and checking account for you. 

Both should open around the same the time, if not a day apart from each other. 

[coldfusion]

You'll want to fact-check this but I believe they still HP EX(?) as part of the application.  I opened mine several years ago and they may have lightened up since then.

[M_Smart007]

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@Mr_Mojo_Risin wrote:

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@SpiritSoul11 wrote:

Hey guys, so I am interested in in getting the Charles Schwab checking account as I live as an expat in a foreign country at the moment. They offer rebates on all ATM fees with 0% foreign transaction fees. Does anyone have any experience with them? How long does it take to get approved for the checking account? After I signed up, they allowed me to login to the brokerage accoint, but the checking account hasn't been approved yet. I plan to transfer $100 to the account once it's approved, and move my direct deposit over. Are there any qualifications I need to meet before getting this account? Thanks so much!

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I believe @M_Smart007  has some dealings with Schwab. They may be able to assist?

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@SpiritSoul11&  @Mr_Mojo_Risin 

Solid info here ...

https://ficoforums.myfico.com/t5/Personal-Finance/Schwab-Removes-Hard-Pulls-For-New-Checking-amp-Bro...