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(Credit goes to SDixey for suggesting this topic.)

Banks and other institutions are pulling HARD credit inquiries on their customers with ever-increasing frequency. Whether its because of 9/11 and the "Know your Customer" regs, or just making sure you arent a fraudster or deadbeat, doesnt really matter, the fact is that its being done regularly.

While inquiries are not a big issue for those with perfect credit, too many hard inquiries on one's credit report can be harmful if your credit is borderline, and can result in higher loan or insurance rates. Most people usually expect hard credit inquiries to occur when they apply for credit, a cell phone, a job, an apartment, or insurance. And these places usually disclose that a credit report is being pulled. Thus, we usually take steps to minimize the # of inquiries.

However, many people are surprised (and displeased) to find out their credit reports have been dinged with HARD inquiries when opening DEPOSIT accounts, such as checking and money market accounts. This has been discussed extensively in THIS thread. If you wish to discuss your opinions on this practice, please post in this linked thread.

The purpose of this thread is SOLELY TO LIST INSTITUTIONS WHICH PULL HARD CREDIT INQUIRIES WHEN OPENING A NON-CREDIT ACCOUNT. Simply name the institution, whether it be a bank, cell phone provider, insurance company, etc. You may also want to state whether they INFORMED you a credit report was being pulled. Please keep posts BRIEF, and limited to the items above, so this thread will be an easy-to-read list. Post all discussion and comments about this practice in the linked thread above.

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Does anyone know if WAMU will pull a hard to open one of their CDs?

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(Scroll to bottom to see list of those that DON'T do hard pulls)

A

              • American Express Co. pulled Experian for a One Financial account without margin (combination brokerage/savings).
              • Ameriprise Insurance (division of American Express) - for car insurance quote (Equifax)
              • AT&T pulled Transunion for current customer moving from CA to OH initiating "new" landline
              • ATTWS - Equifax

                B

              • Bank of America pulled Trans Union for a checking account.
              • Bank of America pulled Trans Union for a CD account opened online.(3/20/2007)
              • Bank of America pulled Experian for a checking account. (8/29/06)
              • Bank Of America - Pulled a hard enquiry after applying *only* for savings account.
              • Bank Of America - Pulled a hard enquiry on Experian for MM savings account 4/2007
              • Bank of Atlanta
              • Bank of New York pulled Experian for a checking account and a savings account.
              • BB&T pulled Equifax for a checking account.
              • Brookline Bank pulled Experian for a checking account.
              • Brown & Co. pulls a hard one for EACH account that you open with TransUnion.

                C

              • Catholic Federal pulled TU for new membership and opening of new checking.
              • Charles Schwab Bank pulled Equifax for opening new checking and investor account (without margin option)
              • Charter One Bank pulled Equifax for a checking account under the name St. Paul Bank Corp.
              • Chase Manhattan Bank pulled Trans Union for a checking account.
              • Cingular Wireless pulled Equifax.
              • Citibank pulled Equifax (for opening 6-month CD)
              • Citibank pulled Trans Unions for a checking and savings account opened at the same time.
              • Citibank pulls hard inquiry for opening e-Savings account
              • Citizens - checking - Equifax
              • Clackamas Community Federal Credit Union - hard inquiry for savings and CD accounts
              • Comcast cable TV and HSI
              • ComED
              • Costco AMEX car insurance ran a Hard Inquiry on me
              • Countrywide (stopped pulling sometime in 2007)

                D

              • DCU (Digital Federal Credit Union) pulls a hard inquiry from Equifax when applying for membership.
              • Directv
              • DishNetwork
              • Dollar RENT A CAR (see Thrifty below)

                E

              • Ebank - checking - Equifax
              • Everbank - pulled Experian for a Money Market Account, as well as for a checking one.

                F

              • Fidelity - LionBank (Not Fidelity Investments)
              • Financial Center Credit Union
              • Fifth Third - Opening Checking Account
              • Flagstar Bank - Checking - Pulls TU

                G

              • GMAC Bank - pulled TU for their MM savings account

                H

              • HARRIS BANK -- CD

                I

              • Indiana Members Credit Union
              • ING Direct - When you open Electric Orange checking account, they will hard pull Equifax to determine the overdraft credit line limit for you. No hard pull for opening Orange Savings account.

                J

              • Johnson & Johnson by Yale & Associates on Experian- employment

                L

              • Local gas & electric utility (We Energies - Wisconsin)
              • Local Honda dealer- check + 5K credit card
              • Local Nissan dealer (Coral Springs Nissan Auto Mall) pulled a HARD one when I browsed their inventory
              • Local Toyota dealership- cash transaction

                M

              • Marquette National Bank -- checking, savings, CD and safe deposit box
              • Meadows Credit Union pulled Trans Union for a checking account.
              • Mechanics Bank (sf) did hard pull from Equifax for a checking account.
              • Muriel Siebert & Co. pulled Experian for a brokerage account without margin.

                N

              • National1St Credit Union - When opening an account/CD etc - Experian had pull
              • NASA Federal Credit Union - when applying for membership - Equifax hard pull

                P

              • People's Gas
              • Pentagon Federal Credit Union
              • Presidential Bank pulled Equifax for a checking account under the name Presidential Savings.
              • Principal Bank pulled Equifax for a checking account, also pulls for money market account according to CSR.
              • Provident Central Credit Union, Bay Area, CA - When opening an account - Experean hard pull

                Q

              • Qwest

                S

              • Salem Five - pulled Equifax for a checking account.
              • Schwab - hard pull on Equifax for a checking account.
              • SCOTTRADE - hard pull on Equifax
              • Sprint - Long Distance for having them as the LD provider on a home phone.
              • State Farm Auto Insurance - for getting an auto insurance quote.
              • Suntrust - pulls an Equifax for opening of a checking account

                T

              • T-Mobile for cell phone service on Transunion or Equifax
              • TD Waterhouse/Ameritrade pulled Equifax on an exisiting customer to open IRA
              • Thrifty RENT A CAR did hard pull prior to rental

                U

              • UFBDirect.com - 3.30% on High Yield Money Market Savings
              • US Bank ( online / phone only. soft pull when opening in branch)

                V

              • Verizon - landline, DSL, or VoIP (on Equifax or TransUnion). Also for new cellphone account.

                W

              • Wachovia-Trans union (or Equifax in some cases) for opening a checking account
              • Wanigas CU - Pulls to become Member, Pulls for Checking - Experian
              • Wells Fargo (When ever you make any changes like adding additional account holder, change address on your account etc, their Credit department is making a hard enquiry on Experean, I fought with them to get it Re-Classified as a soft pull, be very careful with Wells Fargo). Add this also, i change my account from regular to all advantage account (have free bill pay, checks etc) and a hard pull.









---------------------------------
Banks that DO NOT pull hard credit inquiries

Amalgamated Bank
Countrywide Bank FSB
FNBO Direct
PNC Bank (for opening a free checking account), soft pull in Equifax
Valley National Bank of NJ
Washington Mutual
U.S. Bank (in-branch visits only)
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Pentagon Federal Credit Union pulls a hard inquiry when you signup to become a credit union member and open a deposit account.

I applied by telephone, and the rep did not mention she was pulling a credit report on me.

Verizon seems to irregularly do hard inquiries.

I have had a land line with Verizon, but not a cell phone, for 5-1/2 years, yet a year and a half ago they did a hard inquiry. I can't recall anything that would have prompted them to do a hard inquiry.

Chase Manhattan Bank pulled Trans Union for a checking account.
Charter One Bank pulled Equifax for a checking account under the name St. Paul Bank Corp.
Bank of America pulled Trans Union for a checking account.
Presidential Bank pulled Equifax for a checking account under the name Presidential Savings.
American Express Co. pulled Experian for a One Financial account without margin (combination brokerage/savings).
Everbank pulled Experian for a Money Market Account.
Muriel Siebert & Co. pulled Experian for a brokerage account without margin.
Brookline Bank pulled Experian for a checking account.
Citibank pulled Trans Unions for a checking and savings account opened at the same time.

I was not informed of any of these pulls specifically, but I'm sure permissions were provided for in the application documentation.

edit to correct the CRA that Charter One pulled.

verizon pulled my CR one year ago at the same time I enrolled in their auto-pay by credit card program. I'm also a land-line only user. I don't believe it informed me specifically. but i didn't read the terms when i signed up.

RetiredCoalMiner said:

<< Verizon seems to irregularly do hard inquiries.

I have had a land line with Verizon, but not a cell phone, for 5-1/2 years, yet a year and a half ago they did a hard inquiry. I can't recall anything that would have prompted them to do a hard inquiry.
>>

cingular Wireless
Progressive Insurance

Isn't it illigal for companies to pull a hard credit inquiry w/o your authorization?

SCOTTRADE did a HARD on my Equifax CR

Since I am in the Chicago area I can only comment on my dealings in this area. Here goes:

Chicago market:

HARD INQUIRIES -- WHAT ACCOUNTS GENERATE THAT INQUIRY

Financial Institutions:

MARQUETTE NATIONAL BANK -- CHECKING, SAVINGS, CD AND SAFE DEPOSIT BOX
HARRIS BANK -- CD
FIRST AMERICAN BANK -- CHECKING ONLY (DUE TO THE OVERDRAFT PROTECTION FEATURE)

Non Financial:

Local Toyota dealership

thanks for starting another wonderful topic SiS

ATTWS - equifax
Citizens - checking - equifax

Property management companies or apartment owners for prospective tenants.

sdixey said:

<< Non Financial:

Local Toyota dealership
>>

Did you apply for automobile financing through the dealership? If so, this would count as 'financial' and 'credit account related' since their findings would determine what financing terms to offer you.

Zender--

No it was a cash transaction. Told them it was cash from the get go. Under no circumstances were they ever lead to believe it was a lease or financed purchased. Totally floored me!!

I cant speak for every Toyota dealership but this is what this place did.

S

How did the Toyota dealership get your social ? I recently purchased a car as a cash transaction and no way would I have given them my SSN. So I don't understand how/why they pulled your report.

To stay on topic, our local gas & electric utility (We Energies - Wisconsin) did a check when I moved in to the area and also reports my payment status each month to Equifax. I assume that if my credit had been poor they would have required a deposit.

I don't remember, but I think allsat might pull a credit report when ordering satellite equipment from them.

progressive didn't pull my account, they only do when u don't pay it in full.

yep... this is when you pay in installments.

And I assume most of us know that unauthorized inquiries can be disputed (make sure you did not sign something that allows it).

traebon said:



<< How did the Toyota dealership get your social?

I recently purchased a car as a cash transaction and no way would I have given them my SSN. So I don't understand how/why they pulled your report.

Treabon,

In the case of the Toyota transaction, it is a car my parents purchased so I dont have any paperwork on hand. All I know is that they bought their car at Toyota in October, 2002 and there is a hit/ding on October, 2002 under the Account Inquiry section.

All I can do is call this dealership and ask them what prompted this. If I get any pertinant info I would be happy to post an update. Plus I have a friend that used to work for Carmax in their finance department. I can ask him too and see if Carmax does this.

Anyone else have a non finance/lease transaction with a dealership and also get dinged???

S

skchan2003-

I am wanting to open IRAs at Scottrade now. Due to your post I called their customer service department.

I was ASSURED that they only run a soft inquiry. I was told to refer to the website on the terms and conditions page for more info and cant find hard verses soft lingo.
How do you know for a fact that this happened? Was it actually on your report.

I have reviewed the scottrade website and all I can see is some language in the privacy policy that mentions creditworthiness. WAY TO VAGUE FOR MY TASTE!!!!!!!!!!!!!!!!!

And also the inconsistancies begin.....................

Sue

SUCKISSTAPLES said:

<< Pentagon Federal Credit Union pulls a hard inquiry when you signup to become a credit union member and open a deposit account.
>>



What credit bureau do they use?

HARD inquiry when i opened trading acct there.
if you want to w/d money, make sure you live near a branch cuz its a hassle
sdixey said:

<< skchan2003-

I am wanting to open IRAs at Scottrade now. Due to your post I called their customer service department.

I was ASSURED that they only run a soft inquiry. I was told to refer to the website on the terms and conditions page for more info and cant find hard verses soft lingo.
How do you know for a fact that this happened? Was it actually on your report.

So the inconsistancies begin.....................

Sue
>>

So far 2 Hard ones.

I guess I will have to ask the local branch.

Sue

sdixey said:

<< skchan2003-

Due to your post I called their customer service department.

I was ASSURED that they only run a soft inquiry. ...

Sue
>>



I just did the same thing with Vanguard. Had the rep on the phone and asked him to verify it, he talked to someone senior and they said they don't, unless you request to open a margin account. We'll soon see.

tomprc said:

<< verizon pulled my CR one year ago at the same time I enrolled in their auto-pay by credit card program. I'm also a land-line only user. I don't believe it informed me specifically. but i didn't read the terms when i signed up.

RetiredCoalMiner said:

<< Verizon seems to irregularly do hard inquiries.

I have had a land line with Verizon, but not a cell phone, for 5-1/2 years, yet a year and a half ago they did a hard inquiry. I can't recall anything that would have prompted them to do a hard inquiry.
>>

>>



I find it unusual that a company would check your credit through a hard inquiry, when you are going to pay using a credid card which has already checked your credit. It's not like Verizon will not get paid if you fail to make your cc payments, ... would they?

All in all, I think there's some odd stuff that Verizon does, and I don't like it.

Any phone bill dispute? Address change? etc?

RetiredCoalMiner said:

<< Verizon seems to irregularly do hard inquiries.

I have had a land line with Verizon, but not a cell phone, for 5-1/2 years, yet a year and a half ago they did a hard inquiry. I can't recall anything that would have prompted them to do a hard inquiry.
>>

Chareter One did not pull hard but said they would pull check systems when opening a checking account.

May I comment on Verizon? We have been with them since 1999 when they aquired our prior cell phone provider. I have NEVER seen them on my credit report. Thanks for the heads up. At least now if they show up I will question to hit.

Seems like there are a number of oddball hits here, and I am predicting they are going to get weirder as time goes on.

Sue

Friends,

I think I shared that Scottrade informed me via Customer Service that they will run credit on any new account, regardless of type of account. When I asked whether or not it would be a hard or soft inquiry I was told it would be a SOFT one, he said he even spoke with his supervisor.

I did however send an e-mail to CS via the website BEFORE I spoke to CS and in the e-mail it is spelled out very clearly that they will run a report to yield a credit score. Since to the best of my knowledge the only way I know that they can get a credit score is from a HARD inquiry, it appears that CS does not even have a consesus about they type of report they run. For those who are interested, here is a copy and paste of the e-mail I received:

Dear Sue,

Thank you for the email. Scottrade requests a credit score for all new accounts.

Section 2 of the SCOTTRADE BROKERAGE ACCOUNT AGREEMENT:
This agreement will be effective only upon our approval of your Account Application. Your Account Application authorizes Scottrade to verify your credit worthiness (as well as your spouse's if you reside in a community property state). Scottrade may obtain credit reports, contact employers, financial institutions, and make any other inquiries we feel necessary. You should be aware that if Scottrade accesses your credit file, your credit score may be effected. Scottrade may also provide negative account information or unsecured debit balances to consumer/credit reporting agencies. Scottrade may reject an application or close an account for any reason. We may accept international individual or joint Brokerage Account requiring a W-8 for certain countries subject to final approval of Scottrade (Hong Kong, China, Taiwan, Puerto Rico, etc).

In maintaining and/or executing instructions for any account, we may require additional documentation and reserve the right to restrict trading, disbursements, transfers or to take no action in an account. This shall also apply to any disputes or conflicting instructions between account holders. Scottrade reserves the right at any time to amend, change, revise, add, or modify the terms and conditions set forth in the Agreement without prior notice. By maintaining the account, I agree to be bound by such amendments, changes, modifications, revisions or additions to these terms and conditions regardless of whether or not I have actually read them. Scottrade shall not be bound by any verbal statements or written amendments/modifications by the customer that seek to amend the terms and conditions set forth in this agreement.

To help the government fight the funding of terrorism and money laundering activities, Federal law (USA Patriot Act) requires all financial institutions to obtain, verify and record information that identifies each person who opens an account. What this means for you: When you open an account, we will ask for your name, address, date of birth and other information that will allow us to identify you. We may also ask to see your driver's license or other identifying documents.

If you have any other questions regarding this, please call the local branch office.

Sincerely,
Mike Gibbons
Scottrade Financial Services, Inc.

Wells Fargo pulled a inquiry with no reason. I was a Wells Fargo customer. I found out when I was applying for refinance and the Lender wanted an explanation of it.

Pentagon Federal pulled Equifax

tomprc said:

<< Any phone bill dispute? Address change? etc?

RetiredCoalMiner said:

<< Verizon seems to irregularly do hard inquiries.

I have had a land line with Verizon, but not a cell phone, for 5-1/2 years, yet a year and a half ago they did a hard inquiry. I can't recall anything that would have prompted them to do a hard inquiry.
>>

>>


No bill disputes, no address change. I had a second business line installed, but that was nine months prior to the hard inquiry.

HappyGuy said:

<< Pentagon Federal pulled Equifax >>



thanks

whats the difference between HARD and SOFT

lolipop said:

<< whats the difference between HARD and SOFT >>

Dont ask us, ask your gf sorry couldnt resist

Hard inquiries are credit inquiries initiated by the consumer, and too manycan lower your credit score.

Soft inquiries can be pulled without your knowledge, for marketing purposes, account review, etc and are not supposed to affect your credit score

whats a "charter member" ??

bumparoo

sprint long distance.. didn't tell me if they'll will do it..

Funny a few of you mention Verizon pulling hard inquiries. They pulled one on me, plus several soft "account review" inquiries before I took notice. Odd thing is, I have absolutely no business with them...no phones, nothing! I had to go on a two-month letter writing campaign to get it taken off my equifax report. Never did figure out what happened, they don't show me being a customer or anything.

Skipping 207 Messages...
Does anyone know if WAMU will pull a hard to open one of their CDs?



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