topic Re: Checking/Savings division & Credit Card division.....not one in the same at the Bg Banks in Credit Cards

Checking/Savings division & Credit Card division.....not one in the same at the Bg Banks

veracious — Fri, 21 May 2010 01:16:42 GMT

I've never been offered a credit card from my bank. My checking/savings account was with

LaSalle Bank for many years, they then were aquired by ABN AMRO who was aquired by BOA.

Never was offered a credit card by any of these institutions. Are all big banks operating this way?

My BOA branch manager told me I was a "legacy" account, so maybe I wasn't entitled to the same perks.

I've always had CC'cs but never with my main Bank.

Am I wrong for expecting some offers?

veracious

Re: Checking/Savings division & Credit Card division.....not one in the same at the Bg Banks

Anonymous — Fri, 21 May 2010 01:48:46 GMT

There are very few offers compared to previous years. If you want a particular card, why not apply?

Re: Checking/Savings division & Credit Card division.....not one in the same at the Bg Banks

Anonymous — Fri, 21 May 2010 02:43:10 GMT

@veracious wrote:
I've never been offered a credit card from my bank. My checking/savings account was with
LaSalle Bank for many years, they then were aquired by ABN AMRO who was aquired by BOA.

Never was offered a credit card by any of these institutions. Are all big banks operating this way?
My BOA branch manager told me I was a "legacy" account, so maybe I wasn't entitled to the same perks.

I've always had CC'cs but never with my main Bank.
Am I wrong for expecting some offers?

veracious

Hi veracious,

I don't think you're wrong for expecting offers. DH gets offers from USBank with some regularity. We've been banking with them for about 8 years.

Take note, though, that there are several BofA cardholders that are not at all happy with their current M.O. There's probably a ton of options out there, and a good deal of them are rating higher with their customers than BofA.

As Wolf3 says, if you're hankering for a particular card, why not apply?

If you let us know what card, or what characteristics in a card appeal to you, and give us a quick overview of what's on your credit reports & score, we might be able to provide some attractive options.

Re: Checking/Savings division & Credit Card division.....not one in the same at the Bg Banks

veracious — Fri, 21 May 2010 11:41:34 GMT

Thank for the replies.

I guess some of the big banks haven't got a clue how to keep customers. I mean, if they

can send pre-approvals all over the country to people they don't know, why not me.

I'm going to try the credit unions. I know FICO prefers you to have a credit card with one of

the mega banks,but I'll just have to take the score hit.

veracious

Re: Checking/Savings division & Credit Card division.....not one in the same at the Bg Banks

Anonymous — Fri, 21 May 2010 15:19:02 GMT

veracious wrote:
... I know FICO prefers you to have a credit card with one of the mega banks,but I'll just have to take the score hit.

veracious

Why do you say that? As far as I know the size of the bank does not matter.

Re: Checking/Savings division & Credit Card division.....not one in the same at the Bg Banks

veracious — Fri, 21 May 2010 16:06:20 GMT

Thanks for the info Wolf3.

I think I read on this site that FICO weighs the major banks-Chase, Citi, BOA, etc. as more influential

than credit cards from CU's or smaller banks.

I could be wrong, though.

Re: Checking/Savings division & Credit Card division.....not one in the same at the Bg Banks

Anonymous — Fri, 21 May 2010 18:39:59 GMT

Lenders themselves can weigh things any way they want, but I think FICO score is independent of size of underwriter. Please post if you see that reference again.

However, FICO does give more weight to major card (VISA, MC, Discovery, AMEX) than to store cards.

Re: Checking/Savings division & Credit Card division.....not one in the same at the Bg Banks

veracious — Sun, 23 May 2010 05:09:36 GMT

Wolf3, I was basing my statement based on the info in this post. There was a post linked by haulingthescoreup.

It was mentioned that the statement was made by My FICO Barry.

I hope you can find the post, because I'm not sure if I attached the link correctly. Try the link below.

Scoring of credit union cards vs "national" bank cards

veracious

@Anonymous wrote:

Lenders themselves can weigh things any way they want, but I think FICO score is independent of size of underwriter. Please post if you see that reference again.

However, FICO does give more weight to major card (VISA, MC, Discovery, AMEX) than to store cards.

Re: Checking/Savings division & Credit Card division.....not one in the same at the Bg Banks

Anonymous — Fri, 21 May 2010 21:52:38 GMT

I found the posts. Not very definitive or compelling. I might open a new topic on it some time.

Re: Checking/Savings division & Credit Card division.....not one in the same at the Bg Banks

Anonymous — Sat, 22 May 2010 04:56:21 GMT

@veracious wrote:
Thanks for the info Wolf3.

I think I read on this site that FICO weighs the major banks-Chase, Citi, BOA, etc. as more influential
than credit cards from CU's or smaller banks.

I could be wrong, though.

FICO does like to see one revolving account (credit card, HELOC or personal LOC) with a bank or national credit card company. It's FICO reason code #3 "Too few bank revolving accounts". They don't give a noogies-button what size the bank is, they can be either federal or state chartered banks. Last time I looked, there were about 1700 banks listed on http://www.federalreserve.gov/releases/lbr/.

CU cards are in a different category. We love our bank and our CU's. Well, we don't really love them, but we're pretty good buddies with both groups.

Re: Checking/Savings division & Credit Card division.....not one in the same at the Bg Banks

veracious — Sun, 23 May 2010 03:39:32 GMT

Thank you beamMEup.

Nice resource, I bookmarked this link.

veracious