Credit/Savings Relationship w/AMEX

nolongeraneqaddict · ‎03-14-2013

I have been looking at Online Savings Accounts as a means of easily dividing my saving money into multiple funds, Emergency Fund, Mortgage Down Payment, Fun Money, Vacation etc. With rates at around .85% I figure this is a much better way of doing it then putting everything into one Savings account with Chase at .05% or whatever it happens to be. I have narrowed it down to either Ally or AMEX, my question is this.

Does anyone know if AMEX takes into consideration Personal Savings Accounts that are held with American Express Bank when being looked at for Credit Line Increases? I already have a BCE so I am not worried about getting my foot in the door, but if I can use this as another method of building a relationship with AMEX then all the better. Plus everything is easily accesible from my normal AMEX log in.

Anyone have experience with this or other online Savings Accounts in general?

START (01/13):TU: 701 | EQ: 692 | EX: 706

Bobert22 · ‎03-14-2013

AMEX has a bank? I've never heard of/seen any branch locations, but then again I haven't been in every state yet, either

Capital One 2006--$5,000 ||| AMEX Macy's 2008--$2,300 ||| Kohl's 2009-- $1,000 ||| JCP 2010-- $1,000 ||| Walmart Discover 2010-- $5,000 ||| Sears 2011 -- $3,600 ||| Sears 2011 -- $3,500 ||| Chase Freedom 2012--$7,500 ||| Discover IT 2013 -- $4,000
||| Chase Sapphire Preferred 2013 -- $10,000

SCORES: EQ FICO: 787, EX FAKO: 801, TU FICO: 790 (Lender Pull)

Repo-ed · ‎03-14-2013

I have my EF set-up w/ amex BEFORE I sent them GW to remove derog.

I believe the savings account MAY have helped me secure my first card (after they closed my initial card (Delta Gold) back in 2008)) the Zync NPSL

5/2012: 560 credit scores across the board
12/2014: 750+
3/2017: 780+
11/2019: 833
2/2023: Experian via Chase United Explorer CC pull - 891

Repo-ed · ‎03-14-2013

I have CDs set-up via Ally though, as well...

5/2012: 560 credit scores across the board
12/2014: 750+
3/2017: 780+
11/2019: 833
2/2023: Experian via Chase United Explorer CC pull - 891

Open123 · ‎03-14-2013

It doesn't help with approvals, but it's part of the "assets known to us" used to consider CLs and approving charges. So, the answer is it won't help to get approved with the card, but certainly will for future CL and spending ability.

nolongeraneqaddict · ‎03-14-2013

If what I read was correct, they have one branch They are mostly online

START (01/13):TU: 701 | EQ: 692 | EX: 706

nolongeraneqaddict · ‎03-14-2013

@Repo-ed wrote:
I have CDs set-up via Ally though, as well...

Repo-ed, what do you think of AMEX Bank in comparisson to Ally regarding customer service and ease of use?

START (01/13):TU: 701 | EQ: 692 | EX: 706

Open123 · ‎03-14-2013

Their rate isn't the best, but if you think you'll need to or plan to spend "more" than your income on Amex, it may be worthwhile given how narrow the spread is on current short term rates.

SisterGirl · ‎03-14-2013

A few years back, I had a online checking account with AMEX when they first got into the banking game. I closed it a couple of years later because it really lacked in many ways (no ATM card, local branch - thought perhaps they would like when C1 did) & stayed with the savings account. I really enjoy having it with no minimum & no monthly fees, but I can't honestly say that it's offered any benefit to my charge card.

SisterGirl

bluedog1 · ‎03-14-2013

I have an Amex revolver and savings account and there doesn't seem to be a lot of crosstalk. Separate websites, separate customer service, and no one on the credit end has ever brought it up.