Edit

Forums ›
Finance

Opening a brokerage account in: Subjects › Credit

  • filter:
  • Tell A Friend
  • tweet this
  • Post to Facebook
  • Text Only
  • Search this Topic »
  • Classic
  • Page :
  • 1
alert mods    
rated:
   posted: Oct. 4, 2009 @ 11:36a

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..

Thanks!!


   posted: Oct. 4, 2009 @ 11:36a

Quick Summary is created and edited by users like you... Add FAQ's, Links and other Relevant Information by clicking the edit button in the lower right hand corner of this message.



alert mods    
rated:
   posted: Oct. 4, 2009 @ 12:14p

I would like to know this too. Specifically, does TD Ameritrade perform a credit check?

Message edited by: fwratz1 on 2009-10-04 12:15:12 CDT
alert mods    
rated:
   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


alert mods    
rated:
   posted: Oct. 4, 2009 @ 2:09p

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.


alert mods    
rated:
   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?


alert mods    
rated:
   posted: Oct. 4, 2009 @ 4:19p

TD Ameritrade - No hard Pull
Vanguard - No hardPull
Schwab - Hard Pull


alert mods    
rated:
   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....


alert mods    
rated:
   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.


alert mods    
rated:
   posted: Oct. 5, 2009 @ 11:04a

singhonfire said:TD Ameritrade - No hard Pull
Vanguard - No hardPull
Schwab - Hard Pull

Thanks. Prolly just cash acct only?


 Close

Sign Me In
Nickname: 
Password: 
Remember My Login Information:

Forget your login information?

Not Already A Member?
Sign Up Now!
  • Quick Reply:  Have something quick to contribute? Just reply below and you're done! hide Quick Reply
    		 
     
    Click here for full-featured reply.


Disclaimer: By providing links to other sites, FatWallet.com does not guarantee, approve or endorse the information or products available at these sites, nor does a link indicate any association with or endorsement by the linked site to FatWallet.com.


While FatWallet makes every effort to post correct information, offers are subject to change without notice.
Some exclusions may apply based upon merchant policies.
© 1999-2009