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Senior Contributor
Posts: 3,869
Registered: ‎01-10-2008
0

Re: Who is Compass Bank ??

[ Edited ]

 


TLP1234NTX wrote:

 


ngerasimatos wrote:

I bank with Chase, and a local CU for both personal and business. I agree that CUs for the most part are better, but I think since the change in the economy most CUs have become very conservative and taken on a "big bank" mentality. 


 

Sans euphemisms and conjecture, no. Totally wrong.

 

Example, the credit union I just joined a week ago approved a new unsecured Visa CC for $1,000 limit. APPROVED! DONE! IN ONE BUSINESS DAY!!!

 

Compass BBVA would only give me secured VISA (which I promptly canceled today, and I have a clean record, no liens, collections, bankruptcy, no late payments on the closed accounts EVER, AND I HAVE A 746 FICO SCORE!!!, although I don't brag about it in my signature line when I post).

 

BIG BANK MENTALITY?

 

Not on your life. You won't convince me ;-)


 

What's with the attitude?  Just FYI it is not that kind of Forum.

 

Do you know anything about Compass Bank, no?  me neither so I am gonna bounce. Peace.

 

 

DCU EQ 5.0, Citi EQ 08 Bankcard, PenFed EX NG2
EX 08: AFCU, Amex, Chase, PSECU EX 98(?)
TU 08: Barclays, Discover
Member
Posts: 13
Registered: ‎07-04-2010
0

Re: Who is Compass Bank ??

I asked for $500 limit unsecured,I don't need the credit for paying bills. Unlike many people who helped bring the system down along with the irresponsilbility of the of "THE BANKS" and the former "BIG BANK MENTALITY"  living on credit, and the clowns who did the lending and were recently "BAILED OUT" by the FEDS, I don't live on credit. The only credit I chose to go for these days is a mortgage, and recent establishment of new credit will only raise my score for better rates. Nothing complicated about that.


ngerasimatos wrote:

If all you got was $1k and you have a 746 FICO from a CU, then something is wrong. 


 

"If all you got was $1k......"

 

I didn't want or need any more than that. All I asked for was $500!!!

 

"...then something is wrong"

 

Damn right, wasting my time with "expressly for profit" financial institutions like BIG BANKS is wrong!!

 

Some of us don't live on credit, and don't depend on it for every little thing.

 

Only BIG things when we decide to make the decision to do so.

 

 

Member
Posts: 13
Registered: ‎07-04-2010
0

Re: Who is Compass Bank ??

 


score_building wrote:

 


Do you know anything about Compass Bank, no?  me neither so I am gonna bounce. Peace.

 

 


 

They took over the bank that I was happily a member of since 2003 (Laredo National Bank). The attention to detail, and customer service took a major hit since the BBVA Compass aquisition. So, yes I do know something about them.

 

What else do you want to know about them?

Senior Contributor
Posts: 3,626
Registered: ‎10-13-2009
0

Re: Who is Compass Bank ??


TLP1234NTX wrote:

 


ngerasimatos wrote:

I bank with Chase, and a local CU for both personal and business. I agree that CUs for the most part are better, but I think since the change in the economy most CUs have become very conservative and taken on a "big bank" mentality. 


 

Sans euphemisms and conjecture, no. Totally wrong.

 

Example, the credit union I just joined a week ago approved a new unsecured Visa CC for $1,000 limit. APPROVED! DONE! IN ONE BUSINESS DAY!!!

 

Compass BBVA would only give me secured VISA (which I promptly canceled today, and I have a clean record, no liens, collections, bankruptcy, no late payments on the closed accounts EVER, AND I HAVE A 746 FICO SCORE!!!, although I don't brag about it in my signature line when I post).

 

BIG BANK MENTALITY?

 

Not on your life. You won't convince me ;-)


It would be an error in judgment to assume that every one of the thousands of CUs meet your ideals.  The fact is that many -- especially the large -- CUs are starting to show signs of conservatism.  Some even go further than banks in some areas. 

 

But then if you've only dealt with one or two CUs maybe you are just not aware.

IAALBNYL
Frequent Contributor
Posts: 306
Registered: ‎12-30-2008
0

Re: Who is Compass Bank ??

[ Edited ]

Applied for a checking account about 1 month ago. Got pre-approved for 20k Visa Signature or 20k PLOC with a SOFT pull. Chose PLOC....new account opened in 20 minutes. Only then  they pulled my TU. Was my highest CL at the time.

Regular Contributor
Posts: 193
Registered: ‎07-13-2008
0

Re: Who is Compass Bank ??

This is a fairly old thread ressurected but it is actually timely to add that Compass (BANCO BILBAO, one of the largest in Europe (Spain)), has been deemed one of the most productive banks in the US during the first two quarters of 2010. It's productivity stems from a very conservative nature that would indeed frustrate many consumers. I personally have always found them to be especially friendly to small businesses. I don't have a relationship with them, but they are based in my home town and I am privy to a great deal more new about there financial dealings and standings. Another thing driving their productivity right now is that they are solely concentration on hight growth markets across the sunbelt. All areas are hurting , but these have been hurt the least. Their conservatism makes them a strong bank, and with their alliance with BBVA they are not likely to be the target of a hostile takeover.

 

It would be nice to know how dad and son made out two years later.

 

CI

Member
Posts: 13
Registered: ‎07-04-2010
0

Re: Who is Compass Bank ??

 


O6 wrote:

TLP1234NTX wrote:

 


ngerasimatos wrote:

I bank with Chase, and a local CU for both personal and business. I agree that CUs for the most part are better, but I think since the change in the economy most CUs have become very conservative and taken on a "big bank" mentality. 


 

Sans euphemisms and conjecture, no. Totally wrong.

 

Example, the credit union I just joined a week ago approved a new unsecured Visa CC for $1,000 limit. APPROVED! DONE! IN ONE BUSINESS DAY!!!

 

Compass BBVA would only give me secured VISA (which I promptly canceled today, and I have a clean record, no liens, collections, bankruptcy, no late payments on the closed accounts EVER, AND I HAVE A 746 FICO SCORE!!!, although I don't brag about it in my signature line when I post).

 

BIG BANK MENTALITY?

 

Not on your life. You won't convince me ;-)


It would be an error in judgment to assume that every one of the thousands of CUs meet your ideals.  The fact is that many -- especially the large -- CUs are starting to show signs of conservatism.  Some even go further than banks in some areas. 

 

But then if you've only dealt with one or two CUs maybe you are just not aware.


 

IT would be an error in judgment to assume everyone has "a little common sense". Did you read anywhere I stated ALL CREDIT UNIONS, or ALL BANKS?

 

IF haven't considered that "maybe you are not aware".

 

Other than perhaps business school (are you an MBA?), have you been studying the financial markets, the intricacies of our current financial regulations post and pre the recent legislation, and especially before 2008? I have, but I don't make long babbling pontifications about it. I try to give people the benefit of the doubt ( I shouldn't have to quantify by indicating "a few", "OR ALL"), they know at least the "basics", and if they don't to just say so. Anyone can learn if they want.

 

IT doesn't take a genius level of cognitive skills to deduce after some research, that CU's "MAY" suit the average consumer better because of their structure. They are not structured like banks that are expressly profit driven, and even though they advertise they do, DO NOT CARE about there customers unless you have millions. Their actions and the way they handle business speak the truth. Tell me how many credit unions or "CU's" had to be bailed out by the FEDS recently. I'll bet there are exceptions to "EVERYTHING", but name me one credit union bailed out recently in the last couple of years. I don't look for the ones that have, but I DON'T HAVE TO LOOK FOR THE BANKS THAT HAVE FAILED AND BEEN BAILED OUT, that's all over the place.

 

ALL financial institutions have felt the pain of the current economy. It's a subject beyond the scope of my post, and perhaps this entire forum why, and how the fault of all the mess should be distributed.

 

ANY financial institution would be foolish not to be cautious how, and who they lend money to in this economy. That's a given, and that should be painfully obvious.

 

INSPITE of all that, CU's as a whole, are a better deal for most "little people" (aka average consumers) like myself. Don't believe it? Do your own research, ask people who belong to them. It's not difficult.

 

I've been debt free for sometime. It wasn't until I went shopping for a home loan among the instruments available that I realized how "conservative" ALL of the many lending institutions had become since I got rid of my last house and mortgage over twenty years ago.

 

I need to keep my money somewhere "besides under a mattress". Wells Fargo, BOA, Chase and (gag) BBVA Compass are large, bloated with top heavy mgmt, and corporate bureaucracy, who have shown themselves as large, tarkus,and  inept. When it takes a banks (BBVA Compass in this event) credit card dept three weeks to find out why they don't report to all three CB's, and in the end still don't know (I cancelled my VISA with them and closed out all but one account)., then;

 

SOMETHING IS DEFINITELY WRONG!!!

 

Anyone offlist wanting to see the emails, I have them and will send them as proof.

 

 

 

 

 

 

Senior Contributor
Posts: 3,626
Registered: ‎10-13-2009
0

Re: Who is Compass Bank ??


TLP1234NTX wrote:

 


O6 wrote:

TLP1234NTX wrote:

 


ngerasimatos wrote:

I bank with Chase, and a local CU for both personal and business. I agree that CUs for the most part are better, but I think since the change in the economy most CUs have become very conservative and taken on a "big bank" mentality. 


 

Sans euphemisms and conjecture, no. Totally wrong.

 

Example, the credit union I just joined a week ago approved a new unsecured Visa CC for $1,000 limit. APPROVED! DONE! IN ONE BUSINESS DAY!!!

 

Compass BBVA would only give me secured VISA (which I promptly canceled today, and I have a clean record, no liens, collections, bankruptcy, no late payments on the closed accounts EVER, AND I HAVE A 746 FICO SCORE!!!, although I don't brag about it in my signature line when I post).

 

BIG BANK MENTALITY?

 

Not on your life. You won't convince me ;-)


It would be an error in judgment to assume that every one of the thousands of CUs meet your ideals.  The fact is that many -- especially the large -- CUs are starting to show signs of conservatism.  Some even go further than banks in some areas. 

 

But then if you've only dealt with one or two CUs maybe you are just not aware.


 

IT would be an error in judgment to assume everyone has "a little common sense". Did you read anywhere I stated ALL CREDIT UNIONS, or ALL BANKS?

 

IF haven't considered that "maybe you are not aware".

 

Other than perhaps business school (are you an MBA?), have you been studying the financial markets, the intricacies of our current financial regulations post and pre the recent legislation, and especially before 2008? I have, but I don't make long babbling pontifications about it. I try to give people the benefit of the doubt ( I shouldn't have to quantify by indicating "a few", "OR ALL"), they know at least the "basics", and if they don't to just say so. Anyone can learn if they want.

 

IT doesn't take a genius level of cognitive skills to deduce after some research, that CU's "MAY" suit the average consumer better because of their structure. They are not structured like banks that are expressly profit driven, and even though they advertise they do, DO NOT CARE about there customers unless you have millions. Their actions and the way they handle business speak the truth. Tell me how many credit unions or "CU's" had to be bailed out by the FEDS recently. I'll bet there are exceptions to "EVERYTHING", but name me one credit union bailed out recently in the last couple of years. I don't look for the ones that have, but I DON'T HAVE TO LOOK FOR THE BANKS THAT HAVE FAILED AND BEEN BAILED OUT, that's all over the place.

 

ALL financial institutions have felt the pain of the current economy. It's a subject beyond the scope of my post, and perhaps this entire forum why, and how the fault of all the mess should be distributed.

 

ANY financial institution would be foolish not to be cautious how, and who they lend money to in this economy. That's a given, and that should be painfully obvious.

 

INSPITE of all that, CU's as a whole, are a better deal for most "little people" (aka average consumers) like myself. Don't believe it? Do your own research, ask people who belong to them. It's not difficult.

 

I've been debt free for sometime. It wasn't until I went shopping for a home loan among the instruments available that I realized how "conservative" ALL of the many lending institutions had become since I got rid of my last house and mortgage over twenty years ago.

 

I need to keep my money somewhere "besides under a mattress". Wells Fargo, BOA, Chase and (gag) BBVA Compass are large, bloated with top heavy mgmt, and corporate bureaucracy, who have shown themselves as large, tarkus,and  inept. When it takes a banks (BBVA Compass in this event) credit card dept three weeks to find out why they don't report to all three CB's, and in the end still don't know (I cancelled my VISA with them and closed out all but one account)., then;

 

SOMETHING IS DEFINITELY WRONG!!!

 

Anyone offlist wanting to see the emails, I have them and will send them as proof.

 


Sans common sense, you must be confused.  Nobody is talking about who did or did not get bailed out and the reasons therefore.  Nobody is talking about anything that happened in 2008.  This is not the time or the place for the baffle them with b.s. routine.  The comment was made saying that CUs are becoming more conservative and starting to think like big banks and you made the obtuse reply that, based on your isolated experience with one relatively small CU that gave you a $1k line of credit, it was totally wrong.

 

There are, according to the CUNA, more than 11,000 CUs in the US.  How many of them exactly are you a member of and has each extended you credit?  Have you published the research you have claimed to have conducted in any reputable peer-reviewed academic journal? 

 

Most people here do agree that CUs are, as Ngerasimatos stated, for the most part better than big banks.  However, some things are true whether you believe in them or not and the fact is there are indications that most of us in this forum have probably seen that more and more CUs are becoming more conservative.  CU industry journals write about the trend for CUs to tighten their underwriting standards.  Many CUs, with PenFed as a prime example, already have underwriting standards that would put even Bank of America to shame.  If you default with Navy Federal you are in for a rough ride as they are more aggressive in their collections that any three of the biggest banks combined.  Alliant CU is no longer handing out credit cards like lollipops anymore when you initially join online.     

 

In any event, good luck on your high school research paper.  Hopefully you make the honor roll.

IAALBNYL
Member
Posts: 13
Registered: ‎07-04-2010
0

Re: Who is Compass Bank ??

[ Edited ]

O6 wrote:

TLP1234NTX wrote:

 


O6 wrote:

TLP1234NTX wrote:

 


ngerasimatos wrote:

I bank with Chase, and a local CU for both personal and business. I agree that CUs for the most part are better, but I think since the change in the economy most CUs have become very conservative and taken on a "big bank" mentality. 


 

Sans euphemisms and conjecture, no. Totally wrong.

 

Example, the credit union I just joined a week ago approved a new unsecured Visa CC for $1,000 limit. APPROVED! DONE! IN ONE BUSINESS DAY!!!

 

Compass BBVA would only give me secured VISA (which I promptly canceled today, and I have a clean record, no liens, collections, bankruptcy, no late payments on the closed accounts EVER, AND I HAVE A 746 FICO SCORE!!!, although I don't brag about it in my signature line when I post).

 

BIG BANK MENTALITY?

 

Not on your life. You won't convince me ;-)


It would be an error in judgment to assume that every one of the thousands of CUs meet your ideals.  The fact is that many -- especially the large -- CUs are starting to show signs of conservatism.  Some even go further than banks in some areas. 

 

But then if you've only dealt with one or two CUs maybe you are just not aware.


 

IT would be an error in judgment to assume everyone has "a little common sense". Did you read anywhere I stated ALL CREDIT UNIONS, or ALL BANKS?

 

IF haven't considered that "maybe you are not aware".

 

Other than perhaps business school (are you an MBA?), have you been studying the financial markets, the intricacies of our current financial regulations post and pre the recent legislation, and especially before 2008? I have, but I don't make long babbling pontifications about it. I try to give people the benefit of the doubt ( I shouldn't have to quantify by indicating "a few", "OR ALL"), they know at least the "basics", and if they don't to just say so. Anyone can learn if they want.

 

IT doesn't take a genius level of cognitive skills to deduce after some research, that CU's "MAY" suit the average consumer better because of their structure. They are not structured like banks that are expressly profit driven, and even though they advertise they do, DO NOT CARE about there customers unless you have millions. Their actions and the way they handle business speak the truth. Tell me how many credit unions or "CU's" had to be bailed out by the FEDS recently. I'll bet there are exceptions to "EVERYTHING", but name me one credit union bailed out recently in the last couple of years. I don't look for the ones that have, but I DON'T HAVE TO LOOK FOR THE BANKS THAT HAVE FAILED AND BEEN BAILED OUT, that's all over the place.

 

ALL financial institutions have felt the pain of the current economy. It's a subject beyond the scope of my post, and perhaps this entire forum why, and how the fault of all the mess should be distributed.

 

ANY financial institution would be foolish not to be cautious how, and who they lend money to in this economy. That's a given, and that should be painfully obvious.

 

INSPITE of all that, CU's as a whole, are a better deal for most "little people" (aka average consumers) like myself. Don't believe it? Do your own research, ask people who belong to them. It's not difficult.

 

I've been debt free for sometime. It wasn't until I went shopping for a home loan among the instruments available that I realized how "conservative" ALL of the many lending institutions had become since I got rid of my last house and mortgage over twenty years ago.

 

I need to keep my money somewhere "besides under a mattress". Wells Fargo, BOA, Chase and (gag) BBVA Compass are large, bloated with top heavy mgmt, and corporate bureaucracy, who have shown themselves as large, tarkus,and  inept. When it takes a banks (BBVA Compass in this event) credit card dept three weeks to find out why they don't report to all three CB's, and in the end still don't know (I cancelled my VISA with them and closed out all but one account)., then;

 

SOMETHING IS DEFINITELY WRONG!!!

 

Anyone offlist wanting to see the emails, I have them and will send them as proof.

 


Sans common sense, you must be confused.  Nobody is talking about who did or did not get bailed out and the reasons therefore.  Nobody is talking about anything that happened in 2008.  This is not the time or the place for the baffle them with b.s. routine.  The comment was made saying that CUs are becoming more conservative and starting to think like big banks and you made the obtuse reply that, based on your isolated experience with one relatively small CU that gave you a $1k line of credit, it was totally wrong.

 

There are, according to the CUNA, more than 11,000 CUs in the US.  How many of them exactly are you a member of and has each extended you credit?  Have you published the research you have claimed to have conducted in any reputable peer-reviewed academic journal? 

 

Most people here do agree that CUs are, as Ngerasimatos stated, for the most part better than big banks.  However, some things are true whether you believe in them or not and the fact is there are indications that most of us in this forum have probably seen that more and more CUs are becoming more conservative.  CU industry journals write about the trend for CUs to tighten their underwriting standards.  Many CUs, with PenFed as a prime example, already have underwriting standards that would put even Bank of America to shame.  If you default with Navy Federal you are in for a rough ride as they are more aggressive in their collections that any three of the biggest banks combined.  Alliant CU is no longer handing out credit cards like lollipops anymore when you initially join online.     

 

In any event, good luck on your high school research paper.  Hopefully you make the honor roll.


Sans common sense, you are not only confused, you cannot read either, so here is what I said earlier;

 

"I've been debt free for sometime. It wasn't until I went shopping for a home loan among the instruments available that I realized how "conservative" ALL of the many lending institutions had become since I got rid of my last house and mortgage over twenty years ago."

  • FINANCIAL INSTITUTIONS
  • ALL
  • CONSERVATIVE

NEED MORE CLARIFICATION?


 

Senior Contributor
Posts: 3,869
Registered: ‎01-10-2008
0

Re: Who is Compass Bank ??

[ Edited ]

A pity.  Clearly doesn't know when to leave well enough alone after that 06 undressing, oh well Smiley Indifferent

 

DCU EQ 5.0, Citi EQ 08 Bankcard, PenFed EX NG2
EX 08: AFCU, Amex, Chase, PSECU EX 98(?)
TU 08: Barclays, Discover

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