@UncleB wrote:
@jbsea wrote:
@red259 wrote:
@bz386 wrote:#1 is likely a bad idea.
Someone correct me if I'm wrong, but I believe banks have to separate their lending from banking, thus an underwriter does not have access to your bank account to be able to see your balance.
Also, having credit and savings with the same bank may be very bad if the lender decides to take AA. Chase is known to close both the credit and bank accounts. When this happens you may end up with a closed CC and also no access to your funds, which may cause you to be unable to pay your other CCs.
Is this true? I never heard anyone say this happened to them before. If this is indeed true then I would never keep money with Chase, because that would be insane to deal with.
Well I've read many times where Navy Fed will do it. So if they can I'm sure that everyone else can. But there is no way i'm going to have that many open savings and checking accounts with all my creditors. In very general terms I think that most people on this forum are the PIF type since most of us really like our rewards not overtaken by any interest that would happen if not paid in full.
Just to clarify, the Navy Fed account 'freezes' you hear about occasionally on here aren't due to 'AA'; all accounts (including checking and savings) are frozen by NFCU security when there is an issue with the overall NFCU membership, not an issue with the actual accounts.
This is quite different from 'AA'.
Yes you are right UncleB 
they will "Freeze your account. But I've read that if you are late paying a credit card or loan they will do the same. I do have my main checking with them so they are always first to be paid because I don't want to test the theory myself, so others who have are good enough for me.
I know Chase does because when I had to call in for verification, they asked my checking account balance.
And I am particular with Chase CC's for that reason. Don't want any shenanigans.
I do have 1 additional checking at a CU along with a savings at CU and at another national bank. So if the ish hits the fan with Chase, I won't be totally sol
@kdm31091 wrote:
@red259 wrote:
I think I have done up to 8 apps a year or so. This point is heavily dependent on the thickness of your file. If you have a thin file you can easily wind up with AA if you all of a sudden add 10 accounts when you had none before. If you have a thick file then adding new accounts is much much less likely to trigger AA. I think going forward I will try to limit my new apps within a single year to four to six apps. This will include both business and personal apps. You most certainly do not need to limit yourself to one or two apps a year in order to avoid AA. However, it is best not to app for more than four cards in any six month period. App sprees can put lenders on alert so some pacing makes sense and also if going for signup bonuses you don't want to put yourself under a lot of pressure to make massive initial spend.
I can only partially agree with you here. Plenty of people with established, "thick" files have recieved AA too, so that doesn't make someone immune. Lots of new accounts are a risk factor regardless. Yes, the risk is amplied on a shorter file, but it's still not a good thing for anyone to add a bunch of accounts.
I never said someone was immune. I said adding new accounts on a thick file is much less likely to trigger AA. Obviously there are limits on the number of new accounts you can add, but that goes towards my other point of trying to limit the number of apps to no more than four in a six month cycle.
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@ddemari wrote:I also dont like to keep my checking account tied to my credit cards.
+1 I don't keep my main checking accounts with a bank that I have credit cards with. Honestly I don't want one bank having that much access to my financial life due to concerns like this.
