Interesting BoA CLI denial reason.

[Discover2016]

Interesting! Haven't seen this one before: "The amount of deposit and investment balances you have with us and our affiliates is insufficient" After I recieved a nice CLI recently I reconned to try to get a little more to get a Visa Signature I guess they want to see more cash in my checking!

[Kevin86475391]

I wonder if this only occurred because you have bank accounts with them. I have a BofA Visa Signature, but don't use them for banking or investments, so presumably I have less deposit/investment funds with them than you do: $0! lol

I would assume that there are a lot of people out there who only have credit cards with them and no checking, savings, or investments.

[Imperfectfuture]

If I apply for the Alaska Airlines card, that would be moi. Like my banking and credit cards separate.

[icyhot]

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@Imperfectfuture wrote:
If I apply for the Alaska Airlines card, that would be moi. Like my banking and credit cards separate.

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Interesting. Any reason in particular why?

[Imperfectfuture]

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@icyhot wrote:

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@Imperfectfuture wrote:
If I apply for the Alaska Airlines card, that would be moi. Like my banking and credit cards separate.

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Interesting. Any reason in particular why?

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Just habit from the old days (Wamu,yuck).  I also never use the pump, even with car, always went inside.  Habit.  And, it works out well.  The best rates, including business checking, are at CU's.  But the best cash back, mileage cards are with major banks.  Since I will never be palladium material, only the tax man will know all my secrets (to a point).

[NichelleN]

That's exactly the reason listed on my denial letter when attempting to unsecure a BofA card. I thought it was odd.

[Open123]

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@icyhot wrote:

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@Imperfectfuture wrote:
If I apply for the Alaska Airlines card, that would be moi. Like my banking and credit cards separate.

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Interesting. Any reason in particular why?

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I adopt the same practice.  My reasons are:

1.  Never a good idea to have a creditor with ready access to deposits.  Under certain conditions, they can confiscate funds for unpaid debts.

2.  Privacy issues - relationship banking gives an instiutional far too many insights on what or when I do.  If I'm ever under investigation, I don't want to make it easy for the investigators.

3.  Cash is a negative asset.  For me, checking accounts will never exceed $500.  Most of my checking remains under $20, at all times. 

Banks are utilities, and should be treated as such.  We use them to pay bills, get cash, write and deposit checks.