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radfam
Frequent Contributor

Chase

Is it beneficial to have a checking account with Chase in order to qualify (eventually, in my case, not presently) for a CC with them?  I currently bank with BB&T but debating if I should move my accounts to Chase.

Fico 8 as of 03/09/2023:



Message 1 of 12
11 REPLIES 11
Artemis092
Regular Contributor

Re: Chase

I actually opened up a checking account with Chase about 2 month before I applied for the Chase Amazon Prime Visa. I burned Chase about 10 years ago for $1000 on a  credit card so I wanted a little extra insurance before I applied. I was approved for $4000 SL. I think the checking account helped.

If you build it, they will come.




Amex BCE | Amex ED | BofA Rewards | Citibank DC | CitiBank Best Buy | Discover IT | Chase Amazon Prime | Chase Freedom | Wells Fargo Platinum
Message 2 of 12
simplynoir
Community Leader
Mega Contributor

Re: Chase

It's certainly beneficial to have a banking relationship with Chase with regards to them extending you credit for cards. But don't do it simply for that reason; if it makes financial sense for you to do it and the relationship is just an added bonus for doing so then great go for it just don't let it be one of the only reasons for doing so.

Message 3 of 12
radfam
Frequent Contributor

Re: Chase

Thank you both for replying!  We have been debating for a month or so about changing banks.  While there are many BB&T branches across Houston, the closest one to our home is about 15 minutes away.  While that wouldn't be the only reason to switch, the logistics of a closer bank would be beneficial.  Thinking in terms of credit, I do not yet have a Chase card but would like to get there in the future.  If it would be helpful for that to happen if we have an existing checking account with them, maybe it would be a two-fold benefit for our family.

Fico 8 as of 03/09/2023:



Message 4 of 12
Anonymous
Not applicable

Re: Chase

People with Chase.com logins (such as banking customers) can get "Offers" on the login that may be a stronger preapproval for certain products.  I definitely attribute me getting back in with Chase credit due to my banking relationship login.

Message 5 of 12
Anonymous
Not applicable

Re: Chase

If you decide to make the move to Chase, there is a promo out there that offers $300 bonus for opening checking and setup direct monthly deposit (I think $500 or more) and $200 bonus for opening savings and maintain a daily balance of 15k for 6 months. If I were you I would open just the checking and move your savings to an online account that pays high interest (current high yield rate at about 1.3% APY) like Synchrony or GS Bank, then you can ACH funds from your online saving to your Chase checking for paying monthly bills.
Message 6 of 12
Anonymous
Not applicable

Re: Chase

Agree with above, depending on the account you open, i think it is required a $500 direct deposit per month to avoid the $12/month fee.

 

Also, Wells Fargo has a $300 offer...see here to make sure your state qualifies --> Wells Fargo Offer

 

Here is Chase offers --> Chase Offer

Message 7 of 12
Anonymous
Not applicable

Re: Chase

I get a mailer every other week that offers 300/200, better than the linked offer.
Message 8 of 12
Anonymous
Not applicable

Re: Chase


@Anonymous wrote:
I get a mailer every other week that offers 300/200, better than the linked offer.

So the offer you get offers $300 for the checkings and $200 for savings?


Message 9 of 12
Anonymous
Not applicable

Re: Chase

Yes, they also hit me up with email a few times with the same offer, I don't remember the exact details because it goes directly to the trash after I read the first one months back, I will update when the next one shows up. BTW, the offers started coming right after I got my Freedom card.
Message 10 of 12
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