I want to open an online(discount) brokerage account. I have been told that my credit will be checked before the account is opened. Will this affect my credit score? I want to buy a house in a couple of months and I am concerned a check by the broker will affect my credit score
2006-12-27 09:30:03 · 8 answers · asked by hispy99 1 in Business & Finance ➔ Investing
if opening an account does affect your score, it will be very minimal.
2006-12-27 09:34:27 · answer #1 · answered by loveholio 5 · 0⤊ 0⤋
When you applied for the card, the hard inquiry dinged your score for a few points. Closing this new account reallly won't negatively impact your score any further. By the way, it is not true that having an unused credit card negatively impacts your score. If you don't use the card, it does nothing to help your score but doesn't hurt it either. Credit card companies will close accounts due to inactivity after a certain period of time. I suggest that you keep this card and use it every few months for a small purchase, maybe a tank of gas. Then wait for the statement and pay the balance in full. This will keep the card active, build your credit history, and avoid interest.
2016-03-29 08:38:43 · answer #2 · answered by Anonymous · 0⤊ 0⤋
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2015-01-25 00:52:51 · answer #3 · answered by Anonymous · 0⤊ 0⤋
I have not heard of brokers checking credit when opening accounts. This should have no effect on your credit.
2006-12-27 09:43:31 · answer #4 · answered by Merry B 1 · 0⤊ 0⤋
No.
2006-12-27 10:47:00 · answer #5 · answered by Anonymous · 0⤊ 1⤋