Many of my readers have been opening multiple bank promotions over the years to take advantage of the higher interest rates or sign-up bonuses. Whenever opening a bank checking or savings account, you can get either get a hard pull or a soft pull depending on the bank.
It’s important to find out if the bank will perform a hard credit check since a hard inquiry can negatively affect your credit score and may not be worth opening the checking or savings account. Too many hard inquiries on one’s credit report can be resulted in higher loan or insurance rates.
Based on the reported experiences of the many consumers online from sites such as FatWallet, FicoForums, Slickdeals, CreditBoards, Flyertalk, etc, we’ll put together the most extensive list of Banks(alphabetically) on the type of inquiry they will perform whenever opening a checking or savings account.
Click on Review to read more in-depth explanation for each bank bonus such as direct deposit(full list of what count), account type, expiration date, hard or soft pull, credit card funding, geographical restrictions, additional bonus requirements, and early closure fee.
Quick Summary of a Hard Pull vs. Soft Pull:
- What Is A Hard Inquiry (Hard Pull)?
- A hard pull is an inquiry that occurs when a lender checks your credit report to make a lending decision. Hard pulls can slightly lower your credit score and will typically stay on your report for two years.
- What Is A Soft Inquiry (Soft Pull)?
- A soft pull is an inquiry that occurs when a person or company checks your credit report as a background check. It’s like when you check your credit score or when you get approved for a loan from a mortgage lender. Soft pulls may occur without your permission but does not affect your credit score in any way.
Important: Please help us update our list with your own personal experience by commenting below. If you recently open a bank account, you can check your credit report to see if there is a hard pull or soft pull and from what credit reporting agency such as Equifax, Experian, or TransUnion.
Disclaimer: We make no promise the information below is 100% correct since banks can change their way of checking credit often.
|HSBC Premier checking account: Get a $750 Welcome Deposit for eligible new customers who open an HSBC Premier Checking Account with qualifying activities. To earn the bonus, open your new HSBC Premier checking account online, deposit a minimum qualifying balance of $100,000 or more in new money, & maintain at least the minimum qualifying balance for 90 calendar days. Member FDIC Terms|
|TD Bank Checking Bonus: Earn $300 with the Premier Checking acccount when you receive direct deposits of $2,500 or more within 60 days of opening your account. Earn $150 with the Convenience Checking account when you receive direct deposits of $500 or more within 60 days of opening your account.
Apply Now---TD Bank Checking Review
|Chase College CheckingSM: Get $100 as a new Chase checking customer when you open a Chase College CheckingSM account, enroll in paperless statements and complete 10 qualifying transactions within 60 days of account opening. The account comes with free Chase Debit Card, Mobile Check Deposit, Banker guidance, Text banking and QuickPay with Zelle. Get Coupon---Chase College Checking Review|
|Chase Premier Plus CheckingSM – Earn $300 bonus when you open a new Chase Premier Plus CheckingSM account and set up direct deposit. The Chase Premier Checking account comes with free Chase Debit Card, free Online Banking and Online Bill Pay, free Mobile Banking, free Account Alerts, and free access to 16,000 Chase ATMs and 5,100 branches. Apply Now---Chase Premier Plus Checking Review|
Top Bank Accounts Soft Pull or Hard Pull
|Chase Sapphire Preferred® Card - Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $750 toward travel when you redeem through Chase Ultimate Rewards®. |
Apply Now---Chase Sapphire Preferred Card Review
|Wells Fargo Propel American Express® Card - Earn 30K bonus points when you spend $3,000 in purchases in the first 3 months - that's a $300 cash redemption value! Earn 3X points on popular categories.|
Apply Now---Wells Fargo Propel American Express Card Review
|The Business Platinum® Card from American Express - Welcome Offer: Earn up to 75,000 Membership Rewards® points. Earn 50,000 Membership Rewards® points after you spend $10,000 and an extra 25,000 points after you spend an additional $10,000 all on qualifying purchases within your first 3 months of Card Membership.|
Apply Now---American Express Business Platinum Card Review