@Anonymous wrote:
@Anonymous wrote:As another data point: I opened a Schwab brokerage + checking acount a few weeks ago, and haven't seen a HP yet! I specifically made sure to un-check the "margin" option when signing up.
Just saw got a notification from Credit Karma— Charles Schwab did in fact do an HP on EQ when I signed up. Not sure why it took so long to appear (about two weeks)
Might as well apply for margin now
interesting no hp for me, but i didn't go for checking so maybe where that is where hp originated shrug. 'I keep my credit monitored like a hawk as well. No I just need to find some money to money into said account although not going to do any trade this month as october scares me in the market 
@wasCB14 wrote:Schwab eliminating most trading fees.
Beat me to it. This will hopefully allow for more people to start investing.
AU
The only thing I don't really like about schwab is they really don't have a great money market option compared to say vanguard and fidelity to lesser extent. Correct me if i am wrong but the schwab sweep account doesn't go automatically into a govermenmet money market account like it does with fidelity and vanguard.
With that being said i do like that they are getting rid of a lot of fees for most trades, but for me personally doesn't really affect me since I have a really simple portfolio, of US total market index fund and long term treasury index fund. I can buy those almost anywhere and they are basically the same. I do like fidelity because they have no min balance required so it fits my needs the best .
@wasCB14 wrote:
@mongstradamus wrote:The only thing I don't really like about schwab is they really don't have a great money market option compared to say vanguard and fidelity to lesser extent. Correct me if i am wrong but the schwab sweep account doesn't go automatically into a govermenmet money market account like it does with fidelity and vanguard.
With that being said i do like that they are getting rid of a lot of fees for most trades, but for me personally doesn't really affect me since I have a really simple portfolio, of US total market index fund and long term treasury index fund. I can buy those almost anywhere and they are basically the same. I do like fidelity because they have no min balance required so it fits my needs the best .Bank sweep pays very little - 0.12% or 0.50% above $1M.
The Schwab sweep money fund (1.37%) is closed to most new domestic investors:
https://client.schwab.com/secure/cc/products/investments/cds_and_money_markets/sweep
There are some better returns on purchased (no commission, generally no minimums) money markets funds.
But a lot of my cash goes to cover puts, so I'll take the low-fees-but-little-interest tradeoff.
I am more a buy and hold kind of guy , so I don't really know too much about puts and options and all that stuff, so for me I think its just easier to have sweep account that pays a decent amount. I think in my vanguard account its 2% for prime money market and fidelity its ~1.55% for their treasury money market fund. Its probably a really minor thing since I usually don't have all that much money in those accounts ever.
The other thing about schwab which is really minor is that they don't have mutual fund for long term treasuries like you do with vanguard and fidelity. I think if you want to invest in long term treasuries you had to use spdr etf for that, now you have access to TLT VGLT and EDV, but its still only etf. I know this is really nitpicky but I like idea of mutual funds where you can just put in dollar amounts with partial shares not have to buy entire share of etfs.