08-18-2013 05:37 PM
BOA ate up my Banks in the 90's
First checking account i had used to be Summit Bank then it was Eaten up by FLeet which in turn got ate up by BoFa
08-18-2013 06:33 PM
Well i was just sitting and thinking of my credit journey thus far and realized how it changed my banking relationships.. I once had Chase and only Chase... Then i opened a credit union account with Affinity Federal CU then later i closed Chase and opened a DCU was using Affinity and DCU a while now i have transitioned to Affinity and US Bank in which i think i like these two and will settle here as i have credit cards by them both DCU would not approve me for a CC ..... But overall whats your story....
I couldn't recall all of my banking relationships if you offered me $1M. Anyone remember Irving Trust? My banking is a bit of a revolving door. I have tired (without success) to find a bank/CU that I can be loyal to and vice versa. The search continues...
08-18-2013 09:50 PM - edited 08-18-2013 09:50 PM
Hmm...guess I'll go through my banking/credit card history!
TD Bank (Savings) - Opened up a joint savings with my father as soon as I got my first job at 16. Had my paycheck DDed into the account, and with a low $250 monthly minimum to avoid fees, I've never had a problem.
TD Bank (Checking) - Opened it up as soon as I turned 18. Have paycheck to this day split between here and savings. Student account, so no minimum needed.
Orchard Bank/HSBC (Card and Savings), now Cap One (card only) - Secured card I signed up for as soon as I turned 18, but went through a whole rigmarole in getting it and didn't receive the card until June. Had a savings account backed to it that made a measley .5% interest (yes, I mean a .005 dividend...). Think I got a whole 50-odd cents once Cap One unsecured it!
JCP/GE - Former and current employer, and nice to have that GE history
Greater Alliance Federal Credit Union (Savings) - Mom opened up a joint account for me when I went to college...however I guess her and the banker didn't realize that 18 year olds can't have a young saver joint savings, and after about 3 months they promptly removed her from the savings and changed it to a regular savings account in my name. The interest rate is nice, just not the most easily accessible of any of my accounts. Occasionally I move loan refund money into that account to keep it active, and use the account to pay my annual interest fees on my student loans.
TD Bank (CD) - When my grandmother passed away, she left a very small inheritance to her 3 grandchildren. My brother and I each opened up a 3-year CD at TD Bank, since in case we ever had to touch the money (they offer a step-rate, which 10 days from the anniversary date each year you can withdrawal money for no penalty fee), we knew it was there and easily accessible. So far I have never had a need to touch that money, and plan on moving the money when it matures next year to a higher rate CD.
Shell/Citibank - Card stinks, but at least I have some history with Citibank...right?!
Chase (Credit Card) - Freedom card, love the 5x
TD Bank (Credit Card) - Wanted a CC to further build the relationship. Offered $5k platinum (talk about a nail-biting experience...they don't give instant decisions, so you have to wait for the snail mail and hope the card comes in!) and recently received a Visa Sig upgrade.
Chase (Credit Card) - Sapphire, enjoy the 2x on dining since I do spend a good portion of my money at restaurants and fast food.
DCU (Checking/Savings) - Opened up the combo for the free FICO, and the history for potential auto and/or mortgage loans doesn't hurt either! Bare minimum in the accounts, but may make a minimal deposit at the year mark to avoid account closure. Since I am under 23, I don't need the DD or loan product to qualify for the free FICO, except for the electronic statements. May become my main checking in the next 2-3 years though, since TD and Chase will discontinue my student checking privileges on 3/2015 and my 24th birthday, respectively.
Chase (Checking) - Opened up a Chase checking to score the $200 sign up bonus and earn the 10% annual dividend on Freedom points. Stinks to have $1500 tied up in a checking account earning no interest, especially considering TD requires only a $250 minimum on a SAVINGS account. Banker recommended that I could "downgrade" to the college checking after 6 months of holding the account so that I don't lose my sign-up bonus, and I won't have a monthly minimum. Sounds good to me!
AMEX (Credit Card) - Opened this month, snagging a member-since date of 2013. Could look into their banking products if their APRs are favorable.
Phew! 7 credit cards, 3 checking accounts, 3 savings accounts, and a CD that I directly manage. There are other accounts my family takes care of that I barely see except when tax time comes around!
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