I was planning to open a brokerage account and realized that they would perform a credit check. Would this reduce my credit score any? I would be looking to refi my home in the near future (next few months) so dont want my credit score to go down given what the lending standards are nowadays..
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posted: Oct. 4, 2009 @ 11:36a
fwratz1
Ancient Member
posted: Oct. 4, 2009 @ 12:14p
I would like to know this too. Specifically, does TD Ameritrade perform a credit check?
Soriano4life
Member
posted: Oct. 4, 2009 @ 1:55p
NO it wont affect your credit the only reason why they do that is to see if you have any pass delinquency in your history, but far as i know it wont affect nothing
Soriano4life said: NO it wont affect your credit the only reason why they do that is to see if you have any pass delinquency in your history, but far as i know it wont affect nothing
Not exactly true. If they do a hard pull it will knock your score down a few points. Pretty sure most companies do a soft not a hard which will not affect your score, but it will depend on the company.
fwratz1
Ancient Member
posted: Oct. 4, 2009 @ 2:44p
JorgeBurrito said: Soriano4life said: NO it wont affect your credit the only reason why they do that is to see if you have any pass delinquency in your history, but far as i know it wont affect nothing
Not exactly true. If they do a hard pull it will knock your score down a few points. Pretty sure most companies do a soft not a hard which will not affect your score, but it will depend on the company.
Right. I guess I should have been more clear. I want to know if TD Ameritrade does a hard pull?
singhonfire
Cranky Member
posted: Oct. 4, 2009 @ 4:19p
TD Ameritrade - No hard Pull Vanguard - No hardPull Schwab - Hard Pull
craig10x
Senior Member - 5K
posted: Oct. 4, 2009 @ 6:33p
it's no big deal really...it may temporarily take a few points off your credit score....but nothing to get excited about....
davef139
Senior Member - 3K
posted: Oct. 4, 2009 @ 7:16p
singhonfire said: TD Ameritrade - No hard Pull Vanguard - No hardPull Schwab - Hard Pull
Is that for a cash account or margin, with margin you are borrowing money basically.
fwratz1
Ancient Member
posted: Oct. 5, 2009 @ 11:04a
singhonfire said: TD Ameritrade - No hard Pull Vanguard - No hardPull Schwab - Hard Pull
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