Originally Posted by
zer0k1
I think that BMO does. MBNA claims they will in the future, although I am not sure if they also pull or not.
I've done a fair number of product switches with TD, CIBC, BMO and MBNA. I don't believe any of them resulted in a HP, at least I don't see them in my EQ report. They are the same asset/account/trade line in your credit file, even though it may be a new CC number, so the switch should have no affect on your score. I would try to get a verbal confirmation that there would be no affect to my credit score when I request the product change, but as per other people's reports, you could still get a pull...in this case I would call back and get them to re-play the conversation that assured there would be no credit pull, and have the FI submit a request to cancel/nullify the HP.
As for pre-approved offers, not all of them come with a guarantee that you will not get a HP, so again it's best to ask for confirmation. Personally, I've avoided several pulls with my pre-approves, but then when the new accounts are reported to the bureaus, then the score will eventually drop.
Originally Posted by
winebug
No, unless you request a credit product, or want cheques deposited into the account immediately available during the first month of account opening instead of waiting 7 days, banks have no reason to do a pull other then hitting your score.
Watch it when you sign the papers you tick the box you do not want credit pulled and do not want any credit products (having a cheque immediately available upon deposit is considered a credit product believe it or not).
Bankers think it is good to hard pull you on account opening, and don't mention it is hidden deep in their T&C.
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This is good info, thanks for posting!