I took my son in the other day to open a teen checking account at Wells Fargo, where I am an existing customer. They said that I had to be on the account as well (presumably because my son is a minor) so I said ok. Prior to going in, I’d called their customer service to find out the details of the account, and to ask if they did a credit check. The representative explained that they use ChexSystems, but that they don’t do a credit check. I explained that I wanted to be sure that there wasn’t a credit check because I was thinking of applying for a mortgage in the next year or so. He reassured me that it was just ChexSystems, so I went on in to open the account with my son.
The next day, I get a credit watch notice from Equifax. When I login in to Equifax, I see this:
WELLS FARGO BANK-CBG has made an inquiry against your credit report on 08/28/2007. If you did not authorize this inquiry, contact WELLS FARGO BANK-CBG for clarification.
Guess I will be contacting Wells Fargo to see what’s what. I’m glad I keep an eye on my credit so that at least I was alerted immediately.