Frozen Credit
 

If I want to invest in a CD with Fidelity or Vanguard, do I need to temperately unfreeze my credit to open an account with either of them.

Cheers!

Should not have to, just will have to put the cash in the account before buying whatever you want to buy. Credit is for borrowing money from a lender. I don't believe you are planning to borrow money from fidelity with a structured note.

good luck

No. I never have and I have 8 accounts with Fidelity starting in 1986, the latest being three weeks ago. They never pulled a check on me.

Thanks for replies to my credit freeze question.

I tried to open up a account online with Vanguard, name, address, social, phone.

I got so far, then a phone number pop up to call Vanguard to continue.
I called Vanguard and they want to send me paper forms to complete to open up an account.

Is this normal procedure?

This almost sounds like a scam, are you sure you were on the actual Vangard site? I would call them and ask them directly why this happened. If you were not on their site, then depending on how much info you gave out you may become a victim of identity theft.

yes, I hate vanguard for all their paperwork issues, because they don't have offices.. .
Its their lost cost advantage. .. I did a fidelity over the internet, approved the next day and the money went in soon after that. .

And if you have a Vanguard paperwork issue, like i did once, you have to fill in the paper work all over again, then wait to see if the paperwork went through correctly.

good luck

Why
 

Why lock yourself into a cd. Several FDIC insured savings accounts out there that are paying 5%. No minimum, no withdrawal penalties. Google search it

I honestly had a NIGHTMARE with Vanguard when both my mom became ill they refused to accept the POA and then demanded a Drs note which they then again refused and then finalized her estate. I ended up telling them to close them and remit checks and not transfer the funds to the beneficiaries because I did not want anyone or myself to deal with them again.

Don’t know for sure. But, if so, ask which Bureau to unfreeze and do it at their office and refreeze after they receive their info.

It has been well known that Vanguard’s computer system is old, prone to errors and delays. It’s been that way for multiple years. Fidelity’s computer system is relatively much better. OP could even go to Fidelity’s office at LSL. If you don’t have a strong preference toward either Vanguard or Fidelity, you might consider Fidelity’s local convenience factor.

This is an example of Vanguard’s computer system problems from a forum of Vanguard investors:

Are Vanguard’s IT Systems At The Breaking Point? - Bogleheads.org

You, the client will need to find out which broker has the best tools to use if you are going to manage your own investments. You don’t have to sign up to vanguard just because you just want to buy vanguard funds, same goes for fidelity or Schwab. I have been a client to all the different brokerage firms (401k’s and personal accounts) and know how to use their online tools. I don’t use any broker for my investments, I do my own research and manage my accounts. Out of all the online apps, I liked schwabs tools better than all the others. From the schwab online tools, I can buy vanguard or fidelity funds. I would recommend going out to each brokerage house and look at each of their online tools and pick the company that has the best tools.

As for buying a CD, why? You can buy a number of money market funds that are paying out above 5% (I have some) and you can get your money out anytime without penalties.

Go talk to Fidelity. I have acounts with both and, IMHO, this would be the way to go for you.

NO! You are not getting a credit card or seeking a loan.

If you want a local office, then Schwab, Edward Jones, Fidelity and possibly others, all have local offices. I haven’t been in a brokerage firms office in over 20 years, not sure why you would need to go into an office. When transferring 401k money from other institutions, Schwab sent me an overnight FedEx envelope to send the check in if I couldn’t transfer the money online.
I have built and/or bought 4 homes using my secure loan benefit from schwab. I was the bank giving draws to the builders, saved over 4% in getting construction/home loans on each home. You get up to 10 years on paying an interest only loan at a fairly cheap rate and then pay it off when you want. You can use these secure loans as a bridge loan when buying a house if you haven’t sold your existing house at no cost.
Being a schwab customer doing my own managing, I get a lot of perks that would normally cost into the thousands of $$$.
Maybe the other guys can provide these services too, but I doubt it.

I have my credit frozen at the big 3 credit bureau. I have never had to unfreeze for any transaction at Fidelity. Not sure if they would require that to open your first account with them, but definitely not required to open additional accounts.

I prefer Fidelity over Vanguard because they do have offices in the major cities. This is helpful to me as they offer notary service which they have always provided to me for free.

Regarding the paperwork, if you receive the Vanguard papers, just make certain that the mailing address you send to is “real” … which you can verify online or by calling the standard Vanguard number.