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Who is Compass Bank ??

Regular Contributor

Who is Compass Bank ??

My son just got a car approved by Compass Bank and now he is being offered a CC from them. Who are they and should he mess with them? He already has AE,Chase,Citi,Wamu. Thanks for any info!! p.s. he is a jr. in college and I think I got him started off right.TU-715 EQ-701 EX-709

Starting Score: 550-tu 550-eq
Current Score: 745-tu 777-eq (ex-736 lo)
Goal Score: 800-tu 800-eq


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Message 1 of 32
31 REPLIES
Valued Contributor

Re: Who is Compass Bank ??

From their website: http://www.compassbank.com/compass/

 

They are a medium size bank that is a subsidiary of a much larger foreign bank. Perfectly fine for a car loan, I am not sure what kind of cards they offer.

 

"Compass Bank is a Sunbelt-based financial institution which operates 420 full-service banking centers including 166 in Texas, 90 in Alabama, 76 in Arizona, 44 in Florida, 33 in Colorado and 11 in New Mexico. Compass Bank is a subsidiary of Compass Bancshares, Inc., a wholly-owned subsidiary of BBVA (NYSE: BBV) (MAD: BBVA). BBVA is a global financial services company with more than $698 billion in total assets, 44 million clients, 8,800 branches and approximately 110,000 employees in more than 30 countries. When combined with BBVA's three other U.S. banking companies, Compass will rank as the largest regional bank in the Sunbelt region and among the top 25 banks in the U.S. by total deposits."

Message 2 of 32
Moderator Emeritus

Re: Who is Compass Bank ??

IMO- The only bank worse than Wells Fargo is Compass bank-

 

I had a bad experiance with them-

Message 3 of 32
Valued Contributor

Re: Who is Compass Bank ??

Regional banks can be real problems. I don't have any info on their CC's to share. Personally I would use a CU rather that a regional bank CC issuer.
Message 4 of 32
Regular Contributor

Re: Who is Compass Bank ??

Thanks everyone for getting back with me. To be honest now I'm scared and I hope we haven't hooked up with a nightmare. This is no time for a trick-or-treat. If anyone else can give me more info on them please do. It's hard trying to help manage my sons credit and mine too. We don't  need a seedy company to slip up on us. Now I feel like I didn't help good enough this time. Tim, if you don't mine can you elaborate a little for me.


Starting Score: 550-tu 550-eq
Current Score: 745-tu 777-eq (ex-736 lo)
Goal Score: 800-tu 800-eq


Take the FICO Fitness Challenge
Message 5 of 32
Established Contributor

Re: Who is Compass Bank ??


creditchief wrote:

If anyone else can give me more info on them please do. It's hard trying to help manage my sons credit and mine too.




There's a website called epinions where people review everything from appliances to banking experiences. Here are several links to Compass Bank reviews:

47 consumer reviews for Compass banks in Alabama ( link )

6 consumer reviews for Compass banks in Arizona ( link )

2 consumer reviews for Compass banks in Massachusetts( link )

Also, there's another consumer review website ( link ) where I found comments about dealings with Compass Bank. In the search box in the upper-right corner of that link, do a search for "Compass Bank". There are 193 results.
Message Edited by MojaveMoon on 10-14-2008 05:17 AM
Message 6 of 32
Member

Re: Who is Compass Bank ??

I have checking and savings accounts with Compass Bank since 2002 and I have not had any problems with them at all.

They are local to me right around the corner from my work.

Message 7 of 32
Established Contributor

Re: Who is Compass Bank ??


creditchief wrote:

Thanks everyone for getting back with me. To be honest now I'm scared and I hope we haven't hooked up with a nightmare. This is no time for a trick-or-treat. If anyone else can give me more info on them please do. It's hard trying to help manage my sons credit and mine too. We don't  need a seedy company to slip up on us. Now I feel like I didn't help good enough this time. Tim, if you don't mine can you elaborate a little for me.


 

If it helps...the company I work for uses Compass Bank and to my knowledge we've had no problems.
Message 8 of 32
New Member

Re: Who is Compass Bank ??

I used to work for Compass Bank. I would keep a close eye on the account. They are not easy to work with if mistakes are made (even if it's their mistake). They're also not very forgiving about late payments or overdrafts.

 

 

Message 9 of 32
Established Member

Re: Who is Compass Bank ??

When I lived in Phoenix, I had a bank account with Compass Bank and I never had any problems with them.  I also had a car note with them and never had any issues either.  Obviously, I always paid the car note on time and didn't overdraft my account. 

 

They are a reputable bank and I would have stuck with them, but when I moved to South Florida, I found out the nearest branch was in Jacksonville...

Maria

myFICO Scores:
01/22/08 - Ex 651, Eq 569, TU ???
05/14/08 - Ex 637, Eq 615, TU 636
08/07/08 - Ex 651, Eq 620, TU 630

Chase ID Protection Scores (they use FAKO):
9/25/08 - Ex 499, Eq 480, TU 508
Message 10 of 32