@yfan wrote:
@RsxWithSlicks wrote:
So she asked me how much and I replied with $10k CL. She initiated the request and put me on hold for about 30 min. Then came back with Congratulations! You've been approved for a new CL of... $5k. I was honestly shocked, a little hurt, and quite a bit angry. I mean over 10 years with BofA, and more than enough to buy a new car in my accounts, and I'm given $5k after 2 CLI. Granted its within 2 months but still.. Chase gave me a $7k and a $4.5k without any prior relationship and/or knowledge of how much I have in my accounts. Anyways, I guess she could hear my displeasure and had to throw in that since my credit account was only open for 2 months with, they wanted to see responsible use. Then she adds in Oh! Well you've been doing a VERY GOOD job of it so far! Keep it up and we'll see about raising it up after you continue to show us responsible use.
The way she said it slightly irked me even more..
Seriously, there is no point bellyaching about how a bank treats you just because you have had an account with them for x number of years and have y amount of dollars in that account. It is very often the case that certain banks treat a given person better when it comes to credit cards and other banks treat them better when it comes to bank accounts. There is also no point in expecting "loyalty" from a for profit business - and I don't say that to be mean. The truth is that banks look after their own interests, not yours, and you should look after your interest, not theirs. If Chase offers you better deposit accounts, then move your money there now, not in a month.
Let me give you an example. Last month, I joined a new credit union because they have a high interest checking account (provided certain conditions are met). When I joined, they also offered me a credit card, and using it a certain number of times per month raises my interest in the checking account, so I accepted it. But the rewards are lousy, and card has one of my lower limits, and will never get more than the requisite number of swipes at fairly low amounts. So their credit card sucks (but it helps me earn a higher interest in my checking). But they also offered to refinance my car, and clipped 2.5 points off the interest rate I was paying. They did it with zero fees (except a title transfer fee, which is charged by the California DMV, not the credit union).
Am I happy with my car loan and my checking account with this CU? You bet. Do I like their credit card? Heck no. So what? One financial institution doesn't have to get all my business.
Thank you for your perspective. I understand what you're saying.. I guess just forgot living out of the US for awhile.
