Hard Pull Vs. Soft Pull Data For Opening Top Bank Accounts

Hard Pull/Soft Pull data for opening Checking and Savings accounts from banks that offer sign-up promotions can be found below.

Helpful pages for bank promotions:

• My Bank Promotions List
• Banks That Allow Credit Card Funding Opening Deposits
• Meeting Direct Deposit Requirements For Bank Promotions
• Banks With No International ATM Fees

Taking advantage of bank promotions and bonuses is a great way to make a little money on the side, but you have to take into consideration how it can affect your credit. This may be important to you if you’ll be applying for a loan in the near future, for example.

What is a Hard Inquiry?

• These inquiries DO affect your credit score.
• Can happen when opening Checking/Savings accounts from some banks.
• Other common situations where this will occur is when you apply for a loan, credit card, or mortgage.
• They will lower your credit score by a few points and may remain on your credit report for two years.

What is a Soft Inquiry?

• These inquiries DO NOT affect your credit score.
• Opening Checking/Savings accounts from some banks will only require a Soft Inquiry.
• Other situations include background checks and pre-approved credit card offers, for example.
• Soft inquiries may or may not be recorded in your credit report, depending on the credit bureau.
• Knowing this, you may want to consider those bank promotions that only do a Soft Inquiry first.
• *Tip: Many banks will only do a Hard Inquiry when Overdraft Protection is added to your account, so be sure to opt out of this if you don’t deem it necessary.

Hard Pull Vs. Soft Pull Data For Banks With Promotions

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