topic Re: Which bank should I bank with?? in Credit Cards

Which bank should I bank with??

BearsAndTurtlesRtheBest — Fri, 06 Sep 2013 04:55:42 GMT

Okay SOOOO I might get a job as a receptionist or housekeeping at a Holiday Inn. Gonna go tomorrow to talk with the manager(fingers crossed). So I wanted to ask who should I bank with? I have as local banks Citi, BofA, Wells Fargo, Chase, US Bank. Or a CU?

Re: Which bank should I bank with??

BearsAndTurtlesRtheBest — Fri, 06 Sep 2013 04:57:46 GMT

Ill check in with you guys tomorrow. Goodnight!

Re: Which bank should I bank with??

daybreakgonesXe — Fri, 06 Sep 2013 04:59:16 GMT

@BearsAndTurtlesRtheBest wrote:
Okay SOOOO I might get a job as a receptionist or housekeeping at a Holiday Inn. Gonna go tomorrow to talk with the manager(fingers crossed). So I wanted to ask who should I bank with? I have as local banks Citi, BofA, Wells Fargo, Chase, US Bank. Or a CU?

That depends...although I would say pick the bank you'd like the closest relationship with, also pick a bank you'd liek to stick with long term. Are you in/going to college? If so, a student account would be fantastic for you! If you're not, and considering you're going for your first job, picking a bank/CU with a low minimum monthly balance would likely be best!

Re: Which bank should I bank with??

Anonymous — Fri, 06 Sep 2013 04:59:43 GMT

If you qualify, I'd highly suggest joining Navy Federal. If not, a credit union is usually a better option for your primary banking IMO if you have a simple banking relationship.

Once you progress up to needing multiple types of relationships (banking, wealth management, etc.) then you can start worrying about selecting the best firm for each purpose.

Re: Which bank should I bank with??

Anonymous — Fri, 06 Sep 2013 05:01:32 GMT

Chase could be helpful

Re: Which bank should I bank with??

Anonymous — Fri, 06 Sep 2013 05:04:51 GMT

@Anonymous wrote:
Chase could be helpful

Chase is bad about nickel and diming mass-market account holders to death, IMO.

Re: Which bank should I bank with??

Anonymous — Fri, 06 Sep 2013 05:07:20 GMT

I would choose an internet bank, better rates and less fees. Large number of pretty good ones out there.

Re: Which bank should I bank with??

mnavas — Fri, 06 Sep 2013 05:08:40 GMT

I love banking with Chase!! They have a very nice website to manage your accounts online and They've been really good with me... I also have a CU Checking account but i mainly use Chase for my banking needs..

Re: Which bank should I bank with??

CAnNY — Fri, 06 Sep 2013 05:11:24 GMT

Key bank and I think Fidelity bank can't remember are offering $200 for new customers if you direct deposit so much within a certain time period. The Fidelity one I saw on a billboard about a month ago. Key Bank I saw somewhere just a day or two ago. Otherwise NFCU if you can get in.

Re: Which bank should I bank with??

Anonymous — Fri, 06 Sep 2013 05:11:51 GMT

Most banks are good about not nickel and diming students.

For example chase will waive monthly fee's for 5 years.

Or, if you have military relations, the big banks are great in that regard. They will permanently waive fee's for top tier accounts.

Otherwise as mentioned, credit unions will be the way to go for a basic account.

Re: Which bank should I bank with??

SunriseEarth — Fri, 06 Sep 2013 05:14:12 GMT

I've been a member of a regional credit union since 2007. I haven't had any luck getting a credit card through them (yet), but I'm very satisfied with my checking and savings. I actually do have free accounts. The last time that I had any sorts of fees (NSF fee and overdraft transfer), it was far more reasonable than what I had with BofA way back in the day. Plus, I LOVE that credit unions use the CO-OP network, which means I have access to cash for free (you can use the ATM at any 7-11 or ANY credit union).

I would recommend seeing what CUs you'd be eligible to join.

Re: Which bank should I bank with??

Anonymous — Fri, 06 Sep 2013 08:08:24 GMT

A lot of the "big banks" have a $1,500 average daily balance threshold to avoid the monthly service fee. I don't know if that's too high for you; otherwise, they usually also waive the monthly service fee if you have direct deposit (usually require a min. amount deposited every month).

If you wish to avoid ATM fees, as SunriseEarth mentioned, a number of Credit Unions share feeless ATM-networks; not just the little dinky kiosk inside drugstores and gastations, but they also share "drive-up ATM" networks with other local CUs.

The "big banks" almost always (well... imho) have better websites; haha, I don't know if that matters to you. CU websites get the job done, but man they tend to be stuck in the 90s (although there are exceptions).

Lots of variables, if you have a nice computer just open up a Word processor and start comparing theme.

I'm wonder if anyone has any insight into which big banks are more accommodating in approving credit cards?

I suppose you could also consider Wells Fargo, since their secured credit card has a halfway decent annual fee; although I hear BofA graduates to unsecured more easily.

I wish Citi was local to me

Re: Which bank should I bank with??

Eightiron — Fri, 06 Sep 2013 12:47:27 GMT

I would just suggest picking the banks you are interested in, and paying them each a visit. Explain to them your situation, and what you expect out of the bank you choose. I know banks have their set policies, but often times there are gray areas where they can waive fees, etc. I know it can be a full time job just going through the app process to find a job. But keep in mind, You have up until you receive your first check to find a bank, and you can always just cash the check if you havent found one yet.

I think finding the proper fit for you in relationship to a bank is equally(if not more) important than finding the right CC to fit your needs. You seem to have your head on your shoulders well. I am fully confident you can make a wise decision on who holds onto your money. Dont forget, it is YOUR money, and they are holding onto it. Dont let them take advantage of that. Best of luck!

Re: Which bank should I bank with??

youngandcreditwrthy — Fri, 06 Sep 2013 12:49:48 GMT

I love my Chase checking! Extremely easy to pay all my bills with my phone :-)

Re: Which bank should I bank with??

DaniBananiie — Fri, 06 Sep 2013 13:53:44 GMT

I love the relationship between my credit union and I. It's easier to get approved for loan through them, and they'll willing to help you out if you fall on hard times. It doesn't help that they have donuts every morning. Lol

Re: Which bank should I bank with??

ezdoesit — Fri, 06 Sep 2013 14:01:36 GMT

@Anonymous wrote:
A lot of the "big banks" have a $1,500 average daily balance threshold to avoid the monthly service fee. I don't know if that's too high for you; otherwise, they usually also waive the monthly service fee if you have direct deposit (usually require a min. amount deposited every month).

If you wish to avoid ATM fees, as SunriseEarth mentioned, a number of Credit Unions share feeless ATM-networks; not just the little dinky kiosk inside drugstores and gastations, but they also share "drive-up ATM" networks with other local CUs.

The "big banks" almost always (well... imho) have better websites; haha, I don't know if that matters to you. CU websites get the job done, but man they tend to be stuck in the 90s (although there are exceptions).

Lots of variables, if you have a nice computer just open up a Word processor and start comparing theme.

I'm wonder if anyone has any insight into which big banks are more accommodating in approving credit cards?
I suppose you could also consider Wells Fargo, since their secured credit card has a halfway decent annual fee; although I hear BofA graduates to unsecured more easily.

I wish Citi was local to me

Your right about the $1500 but a lot of them also lets you avoid the fees by doing once a month bill pay, and direct deposit to avoid monthly fees I know citi offers this. You best bet though is to take an hour out to go online and research what the big banks offer for you to avoid fees. I mean I would rather bank with a big bank and avoid fees if possible. Even though I don't have chase the tend to approve for cc and other products easier if you have a existing relationship with them.

Re: Which bank should I bank with??

Anonymous — Fri, 06 Sep 2013 14:14:45 GMT

As everyone has said, it's totally personal preference, but I will go on about why I love Chase!

If you are going to be a student, the monthly fees are no worries to you as Chase is extremely lenient with them for students. IE I was in undergrad for 3 years with no fees, graduated and worked for one year (continued with no fees because I believe they hold it up to 4 or 5 so they assumedI was still in school), and now I am in law school and they continue to waive all of the monthly fees. I have never had an issue disputing any fee (only had to do this twice).

The online interface is amazing. Online billpay and the ability to see all of my accounts (credit cards, checking, and savings) is beneficial.

I love their secured message system and they answer within 24 hours, always.

And finally, like mentioned above, I believe they are about a relationship that allows you to grow with them. They were my first credit card and I value their cards over others because of their customer service. They have great recons and allow for retention bonuses. I think they are willing to take more chances with you if you have an account with them because they can see your monthly expenses and income.

Although many banks have the above, I have a soft spot for them!

Re: Which bank should I bank with??

Anonymous — Fri, 06 Sep 2013 14:59:50 GMT

Key Bank is doing 200 for a new account if you have a $500 dollar direct deposit within the first 60 days =)

Then after that, for now they have a refer a friend thing that gives you 50 dollars and your friend 200 dollars if there is a $500 dollar within the first 60 days, (note that the referral must be processed through online banking)

Re: Which bank should I bank with??

Anonymous — Fri, 06 Sep 2013 15:04:09 GMT

Honestly I left Chase because other than IPS schools I've never felt more like a number, though I know individual branches and people are different, it's a sentiment I've seen any times on this forum as well.

Re: Which bank should I bank with??

Anonymous — Fri, 06 Sep 2013 15:13:42 GMT

I have had fairly awkward experience with Chase and some other large banks, and also small, local banks (not CUs) since I graduated from college and the perks wore off. One thing to watch out for is if you move to a place with no branches, how easy is it going to be to close the account or deal with them if something comes up? Since then I did a lot of research and spoke with friends and ended up with Charles Schwab. There may not be any brick and mortar Schwabs in your region, but I have been dealing with them exclusively over the phone and internet and they have been absolutely great.

Their customer service is wonderful and they pay the atm fees that other banks/ATMs charge you. I'm surprised that no one else has recommended them, but maybe they're not well known or there's some reason that people don't like them. Apparently they used to have a credit card that was 2% cashback on everything, but that went the way of the dodo before I joined. I also looked at Ally when I was doing research and they seem good, too, and they have a pretty good rate on their savings account--but I was interested in getting an investment account in addition to checking so I went with Schwab.