Frequent Contributor
TheConductor
Posts: 492
Registered: ‎07-24-2012
Re: Local banks are they hard to obtain their CC?
[ Edited ]

+1 SnackTrader

 

It is very much dependent on the specific bank. Some are strict in their lending requirements, some are more lenient. Some give a lot of weight to established checking/savings history with the bank; some give that no weight at all. Some are generous with credit lines but make obtaining a credit card difficult, while others are generous in giving cards and stingy with limits.

 

The good and the bad of community banks is there is a wide variety of them all with different business practices.  One of them will surely be right for you and your current credit profile, it just may not be the one you're with.

 

Definitely ask a banker at the bank. I've banked with credit unions, community banks, and mega-banks over the past 25 years, and in my experience it's the small community banks and credit unions who will be most frank with you about what they want and where you stand, before ever pulling a credit report.

 

Also, you can learn a lot about a bank's likely lending practices by checking out the Health tab on the bank's page at http://www.depositaccounts.com.  Explaining all those numbers and what they mean is a task beyond the scope of this thread, but if you invest some time in understanding them you can get a sense of how much a particular bank's lending is open to sub-prime and/or higher-risk borrowers.

Starting: EQ 622 (myFICO 7/7/12), EX 696 (TU FAKO 8/14/12), TU 621 (CK TransRisk 7/24/12)
Current: EQ 670 (myFICO 9/8/14), EX 694 (Prosper 7/17/14) , TU 693 (WalMart 9/2/14) Goal: 700+ x3
My Wallet: Amex BCP $30k, Chase CSP VS $12.2k, Amex Zync NPSL (> 10k), C1 Venture VS $5k, Amex SPG $4.5k, Walmart (Store) $2.5k, Barclaycard Apple V $2k, Chase Freedom V $1100, BoA Cash Rewards V $500, Best Buy Rewards MC $500
My Loans: Prosper $25k/36mo
My Business: Chase Ink VS $5k