Credit lines from your bank

[ChemGuy]

A couple of things:

OP:  I have lots over at Chase (see my recent post about receiving double CLI at Chase) but had to convince them to give me 10K card limit.  So, I don't think it's automatic, but it certain helps!  And, yes, most CCCs have no clue of your finances, so it helps the bank to actually see the money (in one form or another) that you claim to have.  Doesn't mean they see all of your income, etc, but it does give them something other than "your word".

DI:  USMC is absolutely correct.  If you have loan with bank X and default, they certainly take your money in deposit to cover default proportionaately.  For example, lets say you fall 90 days behind and miss the next payment.  They can and will take the following months' payment out of your account.  They CANNOT clean you out, but they can confiscate / appropriate  the funds according to the terms of the agreement of your loan.  Believe me:  been there, done that (and BOA is very efficient about appropriating your funds :-) ).

[DI]

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@ChemGuy wrote:

A couple of things:

OP:  I have lots over at Chase (see my recent post about receiving double CLI at Chase) but had to convince them to give me 10K card limit.  So, I don't think it's automatic, but it certain helps!  And, yes, most CCCs have no clue of your finances, so it helps the bank to actually see the money (in one form or another) that you claim to have.  Doesn't mean they see all of your income, etc, but it does give them something other than "your word".

DI:  USMC is absolutely correct.  If you have loan with bank X and default, they certainly take your money in deposit to cover default proportionaately.  For example, lets say you fall 90 days behind and miss the next payment.  They can and will take the following months' payment out of your account.  They CANNOT clean you out, but they can confiscate / appropriate  the funds according to the terms of the agreement of your loan.  Believe me:  been there, done that (and BOA is very efficient about appropriating your funds :-) ).

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That's what I was telling the OP the reason why many may not carry a credit card account with the same bank they have checking and savings with. 

[ChemGuy]

Understand and agree completely DI.

So everyone knows, this process is call "The Right to Offset".  Federal law restricts banks' ability to engage in offset (they have to show cause, an attempt to resolve directly, etc) , but it does give them the power to do so.

[vish1]

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@Anonymous wrote:

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@ficonightmare wrote:

You are correct usmc, but I've read here that people get very high CL's and I was wondering if they're a customer or not.

I've also just read that CITI denied someone an increase stating, "you have enough credit already" when their total credit between 5 cards was somethng like 18K. 

If that's not the case, and they're favoring their customers with a history, why can't banks just be honest and say "you don't bank with us, so we won't give you more credit".

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The one thing that person has not stated in that post was what their income was, their debt to income ratio abd what monthly obligations they have..

if they were making 36K a year, or clearing 2400 a month and had a 380 car payment and rent of 500, would it really make sense to give them credit lines that if used would be more in minimum payment a month then they currently clear?

Sometimes "you have enough credit already" is the truth.

its not a right or an obligation,

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In the case you are talking about, the OP mentioned in a later reply to me asking their HHI saying it was 120k.

[JMN]

I have two major banking accounts.

Citicorp and U.S. Bank. 

Citicorp was my highest limit card at $19k, before Navy Fed replaced them at $20k. The following month, U.S. Bank approved me at $25k for my Premier Line of Credit and $23k for my Visa credit card with them.

While I do believe banking with them helps, in the long term, it's history and FICO driven, for the majority of it all.

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@ChemGuy wrote:

Understand and agree completely DI.

So everyone knows, this process is call "The Right to Offset".  Federal law restricts banks' ability to engage in offset (they have to show cause, an attempt to resolve directly, etc) , but it does give them the power to do so.

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 I work for a major financial institution, and while it's rare to see, it's not 100% uncommon after collection attempts are unsuccessful.