Bank of America does pull your credit report when you open a checking account, but it's a soft inquiry that doesn't affect your credit score
When you apply for a checking account at Bank of America, the bank will request your credit report from one or more of the three major credit bureaus (Equifax, Experian, or TransUnion). This is called a soft inquiry or soft pull. Unlike a hard inquiry—which happens when you apply for a loan or credit card—a soft pull does not lower your credit score and does not appear on the credit report that lenders see.
Bank of America uses this soft pull to verify your identity, check your banking history, and assess risk. The bank is looking for patterns like unpaid overdrafts, fraud, or previous accounts closed due to mismanagement. Even if you have poor credit or a thin credit file, a soft pull will not damage your score or show up on future credit applications.
The soft pull happens during the application process, whether you apply online, by phone, or in person at a branch. You will see a disclosure about this when you sign up, usually in the terms and conditions or a separate notice about how the bank uses consumer reports.
Key Takeaways
- Bank of America performs a soft credit inquiry when you open a checking account, which does not lower your credit score or appear on reports lenders see.
- The bank uses this pull to verify your identity and check for past banking problems like unpaid overdrafts or fraud.
- A soft pull is different from a hard inquiry; only hard inquiries affect your credit score.
- You will receive notice of the credit pull in the account opening disclosures, usually online or in writing.
Why Bank of America checks your credit for a checking account
Bank of America is required by federal law to verify your identity when you open any deposit account. The bank also uses credit information to assess the risk of opening an account with you. This is part of the bank's ChexSystems check and credit review process.
The bank is looking for several red flags: a history of overdrafts you did not pay back, accounts closed by the bank due to fraud or misuse, or patterns of returned checks. If you have been reported to ChexSystems—a banking history database separate from your credit report—Bank of America may deny your application or require a deposit.
The soft pull also helps the bank comply with anti-money-laundering rules and know-your-customer (KYC) regulations. These federal rules require banks to understand who their customers are and where their money comes from. The combination of a credit pull and a ChexSystems check gives Bank of America a complete picture of your banking behavior and identity.
What happens if you have bad credit or no credit history
A soft credit pull will not prevent you from opening a checking account at Bank of America, even if you have a low credit score or no credit history at all. The bank's decision to open an account depends more on your banking history (checked through ChexSystems) than on your credit score.
However, if you have been reported to ChexSystems for unpaid overdrafts, fraud, or other banking problems, Bank of America may deny your application or require you to maintain a higher minimum balance. Some people with ChexSystems records are offered second-chance checking accounts with restrictions.
If you are denied, Bank of America will send you a notice explaining why, including information about how to contact the credit bureau or ChexSystems to dispute any errors on your record. This notice is required by the Fair Credit Reporting Act and will tell you exactly which bureau or database was used in the decision.
The difference between a soft pull and a hard inquiry
| Soft Pull | Hard Inquiry |
|---|---|
| Does not lower your credit score | Lowers your credit score by a few points |
| Does not appear on reports lenders see | Appears on your credit report for two years |
| Used for account verification and risk assessment | Used when you apply for credit (loans, cards) |
| You may not see it on your credit report | You will see it listed on your credit report |
Bank of America's soft pull for a checking account is routine and does not count against you. Hard inquiries, by contrast, are what damage your credit score when you apply for a credit card, auto loan, or mortgage. Multiple hard inquiries in a short time can signal to lenders that you are desperate for credit, which raises your risk profile.
The key difference is visibility and impact. A soft pull is invisible to other creditors and has zero effect on your score. A hard inquiry is recorded on your credit report for two years and typically costs you a few points each time it happens. When you open a checking account, you are only dealing with a soft pull, so there is no downside to your credit.
What information Bank of America sees in the soft pull
When Bank of America pulls your credit, it receives a limited version of your credit report. The bank sees your name, address, Social Security number, date of birth, and basic credit history—but not your full credit score or detailed payment history. The bank is checking for identity verification and red flags, not evaluating your creditworthiness the way a mortgage lender would.
The bank also cross-references your information against ChexSystems, which is a separate database that tracks banking problems. ChexSystems records include closed accounts, unpaid overdrafts, fraud, and returned checks. If you appear in ChexSystems, that information may influence Bank of America's decision more than your credit score will.
Bank of America does not see your full credit score or a detailed breakdown of your payment history on credit cards or loans. The soft pull is much narrower than what a credit card company or mortgage lender would see. This is why your credit score matters far less for a checking account than it does for credit products.
How to check what Bank of America found about you
You have the right to see what information Bank of America received about you. You can request your credit report for free once per year from each of the three bureaus at AnnualCreditReport.com, the official site run by Equifax, Experian, and TransUnion.
You can also request your ChexSystems report directly from ChexSystems. Go to chexsystems.com and look for the "Consumer Disclosure" or "Request Your Report" option. You can order your report online or by mail. If you find errors—such as an overdraft you already paid or an account you did not open—you can dispute it with ChexSystems or the credit bureau.
If Bank of America denied your application, the denial notice will include the name and contact information of the credit bureau or ChexSystems that provided the information used in the decision. You can contact them directly to review your file and challenge any inaccuracies within 30 days.
What to do if Bank of America denies your application
If your application is denied, Bank of America must send you a written notice explaining the reason. The notice will include the name of the credit bureau or ChexSystems that provided information, and instructions for how to contact them to dispute errors or request your report.
If the denial was based on ChexSystems, check your report for mistakes. Common errors include accounts you did not open, overdrafts already paid, or closed accounts listed as unpaid. You can dispute these errors in writing with ChexSystems, and they must investigate within 30 days.
If you cannot resolve the issue, consider opening a checking account at a bank that offers second-chance or basic checking accounts. Some credit unions and online banks have less strict requirements than Bank of America. You can also ask Bank of America whether you can reapply after a certain period or whether a higher minimum balance would make you may be able to access.
Frequently Asked Questions
Will the soft pull show up on my credit report?
No. Soft pulls do not appear on the credit report that lenders see. You may see a record of it in your own credit file if you order your full report, but it will not be visible to banks, credit card companies, or other creditors evaluating you for credit.
Can Bank of America deny me a checking account because of my credit score?
Bank of America can deny you based on credit information, but the decision usually depends more on your banking history (ChexSystems) than your credit score. A low credit score alone is unlikely to disqualify you; unpaid overdrafts or fraud is more likely to cause a denial.
How long does the soft pull stay on my credit file?
Soft pulls typically remain on your credit file for about one year, but they do not affect your score or appear to other lenders. You can see them if you order your full credit report, but they have no impact on your creditworthiness.
What if I was denied because of ChexSystems, not my credit score?
Request your ChexSystems report at chexsystems.com and look for errors. If you find mistakes, dispute them in writing. If the information is accurate but old, you can ask Bank of America to reconsider or try applying at a different bank with less strict ChexSystems policies.
Do I have to give Bank of America permission to pull my credit?
Yes, but permission is built into the account opening process. When you apply for a checking account, you are agreeing to let Bank of America pull your credit and check ChexSystems. This is disclosed in the terms and conditions you sign or accept online.