Originally Posted by
Happy
Slightly OT - I opened the brokerage account after receiving the credit card. It did not generate any hard pull. However, when I enquire whether it would be any hard pull if I get the Investor Checking Account to go with the brokerage account, I was told they could NOT guarantee there would be no hard pull. After a few emails back and forth on the Soft Pull versus Hard Pull subject, they called me today and basically subtlely told me, despite we had previous history with Schwab brokerage (1994), but since we never have banking history with Schwab Bank, they might do a hard pull for the Investor Checking Account. The rep suggested me to have a cover letter attached to the application form to stress that if a hard pull is required, then customer does NOT want to open the checking account....
Just a data point. When I applied for the Investor Checking Account when they rolled it out in late 2007 or early 2008, they didn't hard pull on me. The new account was opened in about a week, and then I received all the confirmation documents. Of course things may have changed a lot since then. This is just my experience.