Re: Best high yield savings?
10-11-2012 04:22 PM
I have the sneaking feeling that they (Amex) might feel more comfortable in knowing that they can whack the savings account if you go bad on the credit account....just like BOA (and a few others...ya gotta read the small print).
I would understand if that happened. Although, I think I would drain my savings before defaulting on a credit card. I never make purchases that I don't already have cash to cover. I have seen too many people screw up their credit.
AFAIK they don't take your deposit accounts into account when doing UW for a card. The amex deposit accounts are American Express FSB, the cards are American Express Centurion Bank which operate as two seperate entities, unlike banks like Chase, BoA, WF that do everything together.