topic Re: Chase checking improve relationship? in Credit Cards

Chase checking improve relationship?

Anonymous — Sun, 03 Apr 2016 03:17:24 GMT

This may be a dumb question, but I know having a 10k savings account MAY help your relationship with chase. Any idea if a regular checking may also? I bank with BoA and have for years(no complaints really) but I don't know that I'll ever get a Boa card, so it might make sense, if it improves the relationship, to open a checking account(and also get one of the 200ish bonuses floating around.

Re: Chase checking improve relationship?

OmarGB9 — Sun, 03 Apr 2016 03:25:26 GMT

May or may not. I don't think anyone can say for sure.

Re: Chase checking improve relationship?

Open123 — Sun, 03 Apr 2016 04:04:12 GMT

It's definitely a YMMV may vary thing, but I've found having a wide range of financial products leads to a better experience with Chase. This isn't to suggest it'll overcome bad credit, but an extended relationship (deposit account, fixed loan, CPC, etc...) will yield better results with their CC portfolio.

Re: Chase checking improve relationship?

Anonymous — Sun, 03 Apr 2016 04:34:50 GMT

I can't speak for Chase but I do know that at WF I have seen credit apps (mainly HELOCs and PLOC) denied due to lack of relationship with the bank, which can be from being too new a customer or simply not keeping any/enough money with the bank.

Do keep in my mind that this has NEVER been the sole reason for being declined, usually it will pop up as well if your credit is shaky or you have a high DTI or other negative factors

In all honesty having an account with Chase wouldn't hurt or significantly help your approval chances unless you mismanage your account or you keep a lot of money.

Re: Chase checking improve relationship?

jsucool76 — Sun, 03 Apr 2016 05:28:05 GMT

I'm sure if you're a borderline approval, banking with chase can help (or hurt) depending on how you manage your accounts. I don't think it's anything that will play a major role unless you're with chase private client, or JPM wealth management.

Re: Chase checking improve relationship?

Anonymous — Sun, 03 Apr 2016 05:37:18 GMT

Alright thanks for the info guys. That's about all I needed to know, if there was any clear benefit to putting a checking in with them. I'll be opening one regardless I think(just got a mailer the other day for a $300 checking bonus).

Probably just closing BoA out entirely since I don't see any real benefit to staying with them(despite 5ish years of history). And if there's any chance of getting an in bank prequal I'll take it. I'm sure the super shut down that recently happened to another posted is rare.

Re: Chase checking improve relationship?

redpat — Sun, 03 Apr 2016 07:13:09 GMT

Ii keep my banking separate for my credit on the personal side. All my personal banking is done through a credit union.

On the other hand my Commerical banking and credit line have to be the same banking relationship.

Never had.a problem obtaining credit w/o a banking relationship personally.

Re: Chase checking improve relationship?

Anonymous — Sun, 03 Apr 2016 10:39:07 GMT

hmm why wait for an in bank prequal from BoA???

here's a thought, why not take advantage of that 5 yr+ banking relationship with them before closing?!? app for 3 (no annual fee) cards all at the same time/day (going for 1 HP instead of 3) - $200 bonus from the travel card, $200 from a cash reward card (the mlb cash reward recently) and $100/yr bonus from better balance rewards. if you really must close, just close checking and keep savings (keep $300 for no monthly fee) for addt'l $5/qt bonus from bbr for a total of $120/yr. of course, only do it if your profile supports it!!! as always, YMMV!!! but you can always recon and having that 5yr+ banking relationship just might help. meet the requirements/spend and it's an easy $500+ bonus. just a thought! =D

Re: Chase checking improve relationship?

Anonymous — Sun, 03 Apr 2016 12:37:47 GMT

Thanks but I cringe at the sight of my aaoa being destroyed by that. My files short enough as is. Not waiting for an In bank prequal for boa, waiting for a prequal from chase to get around 5/24. If it happens, great, if not, it's only about a year left. I just don't really need boa for anything particular, and I don't really feel like they offer me anything I need

Re: Chase checking improve relationship?

Anonymous — Sun, 03 Apr 2016 12:44:04 GMT

@Anonymous wrote:
Thanks but I cringe at the sight of my aaoa being destroyed by that. My files short enough as is. Not waiting for an In bank prequal for boa, waiting for a prequal from chase to get around 5/24. If it happens, great, if not, it's only about a year left. I just don't really need boa for anything particular, and I don't really feel like they offer me anything I need

oh i thought you were waiting for BoA prequal. i guess i was confused. lolz. don't mind what i said then. =p

Re: Chase checking improve relationship?

Blodreina — Sun, 03 Apr 2016 13:47:02 GMT

I had a BoA decline for "lack of deposit products," so it makes sense that some card issuers may factor that in (to a small degree, probably).

Re: Chase checking improve relationship?

NRB525 — Sun, 03 Apr 2016 14:27:08 GMT

@Anonymous wrote:
This may be a dumb question, but I know having a 10k savings account MAY help your relationship with chase. Any idea if a regular checking may also? I bank with BoA and have for years(no complaints really) but I don't know that I'll ever get a Boa card, so it might make sense, if it improves the relationship, to open a checking account(and also get one of the 200ish bonuses floating around.

Depending on your cash flow, and balance, you could consider keeping the BofA checking open. Looks like minimum balance of $1,500 or DD of $250 (on one DD, which means most payroll should be $500 per month) can keep it free of fees. The BBR card is an easy $100 per year to be added to that checking account.

I am in the dreamer camp of thinking that my Chase checking relationship will help me get around the 5/24 sooner than having to wait for late 2017, but I may merely be setting myself up for disappointment this summer when I app for CSP. I do still have 10 points per swipe and the 10% points on points bonus on my Freedom card, and that may have something to do with the checking account. Checking has been open since April 2011. Minimum DD have been $1,500 per month and I'm routing more transactions through recently and in the next few months to raise the transactions level even more.

Re: Chase checking improve relationship?

FireMedic1 — Sun, 03 Apr 2016 14:33:15 GMT

I switched a year ago after that mailer to open an account and get $300. I'm post BK from last year. Direct deposit from 2 jobs. Now I dont have to work to pay creditors any longer. I have both a checking (No OD) and a savings account, which it has been years since I saved money. I ask their CC dept if they would start me out on a Freedom at $500. Gave them my accounts. My savings was 20 times more than what I asked for. They gave me a song and dance, no real consideration being a customer and I decided not to risk the HP. Doesn't matter now. I got the Venture for 10k a week later. Their loss my gain. JMHO.

Re: Chase checking improve relationship?

Kidcat — Sun, 03 Apr 2016 15:16:46 GMT

I think it can help if your're on the bubble. They gave me a mortgage and I opened up a checking at that time, even though I burned Chase in my BK. When I finally got around to applying for a CC I had to call in for verification. They specifically mentioned my checking account, the amount of my direct deposits being over xx dollars, ahd that they could se my payments to other CC companies, and how I made significant payments. Honestly I was a little floored, but they approved me for $8000.

Your banking relationship may have a small impact on your Chase internal score. So if you're borderline (which I was) it may tip an approval to your favor.

Re: Chase checking improve relationship?

Imperfectfuture — Sun, 03 Apr 2016 17:09:44 GMT

@redpat wrote:
Ii keep my banking separate for my credit on the personal side. All my personal banking is done through a credit union.

On the other hand my Commerical banking and credit line have to be the same banking relationship.

Never had.a problem obtaining credit w/o a banking relationship personally.

I am in this boat. Only CU accounts. So far, Chase seems to like me.