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Always open a (Checking) line of credit with checking accounts. Saves you from those screwy things.
@jbsea wrote:Always open a (Checking) line of credit with checking accounts. Saves you from those screwy things.
Bingo!
I don't think #1 will make much difference. Maybe at some banks.
Here are a couple more ideas:
Keep INQ's down. INQ's, like new accounts, may cause the bank to do a AR SP. See Commenity closures.
Don't call for interest rate reductions, etc. Even calling to close an account to transfer the limit can cause a review.
Don't do BT's. It may make the profit side happy. But it can raise red flags with the risk department.
Don't use paypal for large amounts. A corollary would be not to run your own credit card through your business credit card machine.
Keep CLI's reasonable. A 50k limit is more likely to be reviewed by a human than a 5k limit.
Keep your FICO score up. If you have a borderline score, it may be worth micromanaging.
Lates, CO, judgements, etc can spook any lender.
Don't leave cards maxed out for long periods of time. It is ok to max a card out and PIF one month. Don't leave the card maxed out.
Don't go over your limit even on flexible spending accounts
EDIT: Cash advances on CC's are a no-no, too.
EDIT 2: Never have a payment returned. Double check your account number when entering it on the CCC's website.
Not all banks have the same triggers. For example, Barclay's take AA when you use one of there BT offers. Another bank may give you kudos for strengthening the relationship.
@kdm31091 wrote:
@red259 wrote:
@ddemari wrote:I also dont like to keep my checking account tied to my credit cards.
+1 I don't keep my main checking accounts with a bank that I have credit cards with. Honestly I don't want one bank having that much access to my financial life due to concerns like this.
Right, but if you keep your utilization down, don't add new accounts constantly, etc, there's no reason to be overly concerned about AA.
^This
It's just pure common sense if not neglected. No brainer.
Steer clear for awhile and build on what was already obtained, stay within reasonable acceptable utility percentages.
We all Goof sometimes.
@kdm31091 wrote:
@red259 wrote:
@ddemari wrote:I also dont like to keep my checking account tied to my credit cards.
+1 I don't keep my main checking accounts with a bank that I have credit cards with. Honestly I don't want one bank having that much access to my financial life due to concerns like this.
Right, but if you keep your utilization down, don't add new accounts constantly, etc, there's no reason to be overly concerned about AA.
I don't get the fear of keeping a checking account with a bank that you have a CC with. It's not like they're going to just drain your checking account and take your money if they slash your limit or close your CC. Two distinct things that have not much to do with one another.
No, but if a bank ever closed your accounts down you would realize how disruptive that would be and having to scramble. It happened to me years ago because my account was linked to someone else account and that person bounced a few checks and the bank closed down all accounts remotely connected including my accounts that never had any issues. It totally screwed me over for days. Therefore I'm not about to consider putting myself in a situation.
@red259 wrote:
@kdm31091 wrote:
@red259 wrote:
@ddemari wrote:I also dont like to keep my checking account tied to my credit cards.
+1 I don't keep my main checking accounts with a bank that I have credit cards with. Honestly I don't want one bank having that much access to my financial life due to concerns like this.
Right, but if you keep your utilization down, don't add new accounts constantly, etc, there's no reason to be overly concerned about AA.
I don't get the fear of keeping a checking account with a bank that you have a CC with. It's not like they're going to just drain your checking account and take your money if they slash your limit or close your CC. Two distinct things that have not much to do with one another.
No, but if a bank ever closed your accounts down you would realize how disruptive that would be and having to scramble. It happened to me years ago because my account was linked to someone else account and that person bounced a few checks and the bank closed down all accounts remotely connected including my accounts that never had any issues. It totally screwed me over for days. Therefore I'm not about to consider putting myself in a situation.
This is a great reason for diversification. (As well as the FDIC limits). NEVER keep all your eggs in one basket.
With my bank where I have my primary chequing, I have NOTHING but chequing and savings. I also have a secondary bank, with chequing, savings, PLOC and a credit card. I have another bank with just savings. And I am seriously considering opening another chequing account at a completely different bank.
Sorry, but finding out my bank (RBS) was HOURS from insolvency during the financial crisis has left me very skitterish when it comes to banking. Also, I just watched The Big Short, which I highly recommend (especially to this group)
@Discover2016 wrote:This is my policy: overall utilization is kept to 15% maximum, less than 10% is best, individual card util 30% max.
What if I max the card and by the closing date pay it off. WIll they get scared?
@Anonymous wrote:
@red259 wrote:
@kdm31091 wrote:
@red259 wrote:
@ddemari wrote:I also dont like to keep my checking account tied to my credit cards.
+1 I don't keep my main checking accounts with a bank that I have credit cards with. Honestly I don't want one bank having that much access to my financial life due to concerns like this.
Right, but if you keep your utilization down, don't add new accounts constantly, etc, there's no reason to be overly concerned about AA.
I don't get the fear of keeping a checking account with a bank that you have a CC with. It's not like they're going to just drain your checking account and take your money if they slash your limit or close your CC. Two distinct things that have not much to do with one another.
No, but if a bank ever closed your accounts down you would realize how disruptive that would be and having to scramble. It happened to me years ago because my account was linked to someone else account and that person bounced a few checks and the bank closed down all accounts remotely connected including my accounts that never had any issues. It totally screwed me over for days. Therefore I'm not about to consider putting myself in a situation.
This is a great reason for diversification. (As well as the FDIC limits). NEVER keep all your eggs in one basket.
With my bank where I have my primary chequing, I have NOTHING but chequing and savings. I also have a secondary bank, with chequing, savings, PLOC and a credit card. I have another bank with just savings. And I am seriously considering opening another chequing account at a completely different bank.
Sorry, but finding out my bank (RBS) was HOURS from insolvency during the financial crisis has left me very skitterish when it comes to banking. Also, I just watched The Big Short, which I highly recommend (especially to this group)
I just watched this on Friday. Excellent film. Here is Margot Robbie in a buibble bath to explain mortgage bonds! Simply outstanding. Another great film was Too Big to Fail from HBO. Watch The Big Short first then Too Big to Fail. One is the leadup and the second is the government response. For the trifecta watch The Wolf of Wall Street first to set the stage about greed on wall street in general.
@red259 wrote:
@Anonymous wrote:
@red259 wrote:
@kdm31091 wrote:
@red259 wrote:
@ddemari wrote:I also dont like to keep my checking account tied to my credit cards.
+1 I don't keep my main checking accounts with a bank that I have credit cards with. Honestly I don't want one bank having that much access to my financial life due to concerns like this.
Right, but if you keep your utilization down, don't add new accounts constantly, etc, there's no reason to be overly concerned about AA.
I don't get the fear of keeping a checking account with a bank that you have a CC with. It's not like they're going to just drain your checking account and take your money if they slash your limit or close your CC. Two distinct things that have not much to do with one another.
No, but if a bank ever closed your accounts down you would realize how disruptive that would be and having to scramble. It happened to me years ago because my account was linked to someone else account and that person bounced a few checks and the bank closed down all accounts remotely connected including my accounts that never had any issues. It totally screwed me over for days. Therefore I'm not about to consider putting myself in a situation.
This is a great reason for diversification. (As well as the FDIC limits). NEVER keep all your eggs in one basket.
With my bank where I have my primary chequing, I have NOTHING but chequing and savings. I also have a secondary bank, with chequing, savings, PLOC and a credit card. I have another bank with just savings. And I am seriously considering opening another chequing account at a completely different bank.
Sorry, but finding out my bank (RBS) was HOURS from insolvency during the financial crisis has left me very skitterish when it comes to banking. Also, I just watched The Big Short, which I highly recommend (especially to this group)
I just watched this on Friday. Excellent film. Here is Margot Robbie in a buibble bath to explain mortgage bonds! Simply outstanding. Another great film was Too Big to Fail from HBO. Watch The Big Short first then Too Big to Fail. One is the leadup and the second is the government response. For the trifecta watch The Wolf of Wall Street first to set the stage about greed on wall street in general.
Cheers, mate. Both are on my to-watch list. I will definltely push Wolf of Wall Street to the top, and watch Too Big to Fail soon after (HBO does a lot of quality films)
@Anonymous wrote:
@Discover2016 wrote:This is my policy: overall utilization is kept to 15% maximum, less than 10% is best, individual card util 30% max.
What if I max the card and by the closing date pay it off. WIll they get scared?
I would avoid maxing out a card, especially if the account(s) are less than a year old and especially if the account is from Chase. Once they are over a year, maybe.