Reply
New Contributor
mripguru
Posts: 85
Registered: ‎04-20-2013

Does having a checking/savings account w/ CC issuer bank increase chances?

[ Edited ]

As the title states - does having a checking/savings account w/ CC issuer bank increase chances?

 

Currently - I bank with www.simple.com, which doesn't offer a Credit Card account (only debit cards). I'm wondering if I move to/add another account somewhere, would that eventually increase my chances of being approved for a CC of some kind with limited credit history (my banking history being substituted in lieu of a history with the CRA's).


Starting Score: EX: 545 | TU: 545 | EQ: 554
Current Score: EX: 554 | TU: 616 | EQ: 612
Goal Score: 650, for now.


Take the myFICO Fitness Challenge

What's in my Wallet? Simple Bank Card (www.simple.com), Capital One Platinum MC ($300)
Moderator Emeritus
llecs
Posts: 32,880
Registered: ‎08-04-2007

Re: Does having a checking/savings account w/ CC issuer bank increase chances?

It's a YMMV-thing based on the bank. When I re-entered the realm of credit I opened many checking and savings accounts across a dozen or so banks and CUs. Most of them didn't care that I banked with them but then too I only had accounts opened for a year or so and only had a few hundred in each. Certainly wasn't a high-volume customer. I can only recall one bank that gave 2 cents and offered me all sorts of credit.


myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.

>> About myFICO
FICO Score - The Score that matters
Click to Verify - This site chose VeriSign SSL for secure e-commerce and confidential communications.
Fair Isaac Corporation is a BBB Accredited Financial Service in San Rafael, CA
FOLLOW US Social Media Facebook Twitter Pinterest Google+