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Do banks value longevity?

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SoCalGardener
Valued Contributor

Re: Do banks value longevity?


@longtimelurker wrote:

@SoCalGardener wrote:

Reading some of these negative posts makes me feel sad for the people who've never experienced great service from a bank. I don't doubt your experiences at all--I'm just sorry you haven't had the great experiences I have. I'm sure crappy banks like those described in this thread exist, but so do good ones! I feel luckier and more grateful now than I did before....


Oh, I have had some sort-of-meaningful good service (e.g. giving me the old higher rate on a cert account, taking it from when we first spoke, rather than the "official" application date which would have given a lower rate.)  But part of this was your comment about them thanking you for your longevity, which I am not sure really means much.   I compare this to moving from the UK to the US, and finding lots of people saying "Have a nice day".    I didn't decide that this meant they were really more caring than the UK's (well London) silent disinterest (at best!) .

 

[An even more cynical ex-UK friend later said: "On the East coast, they say 'Have a nice day'.  In CA, they also say it, but there they mean it!"  We couldn't decide which was worse, but then that's Brits for you).


Indeed we do! Here in the beautiful Golden State, we're very welcoming and warm. Though we may say "Have a nice day, dude!" regardless of your gender. Smiley Very Happy

 

My remark about acknowledging my longevity with them simply points out that they actively acknowledge it, and I like that. I have no idea, and I believe I've been clear about this, whether there's any actual sincerity behind this or any other comments they make--but it FEELS genuine. It doesn't feel like they're reading from a standard script by rote.

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Message 21 of 26
SoCalGardener
Valued Contributor

Re: Do banks value longevity?


@FinStar wrote:

@SoCalGardener wrote:

Reading some of these negative posts makes me feel sad for the people who've never experienced great service from a bank. I don't doubt your experiences at all--I'm just sorry you haven't had the great experiences I have. I'm sure crappy banks like those described in this thread exist, but so do good ones! I feel luckier and more grateful now than I did before....


You also have to think beyond the scope of your experience. Not long ago a colleague of mine left BoA/Merrill Lynch due to a very complex but horrible experience. And, while I personally have not had any major issues with BoA/ML in over 20 years, their experience was just as valid for the simple reason that regardless how much of a cheerleader you may be for X institution (no one is denying you had above-and-beyond results), negative experiences will still happen with just about any enterprise. Unfortunately, individuals tend to remember them more than the positive ones, just human nature.


You may recall a thread I posted last year, about what a difference your credit standing makes in the way you're treated. I complained that, years ago, when we didn't have enough money to keep the lights turned on, we were treated like pariahs by banks, utility companies, credit card companies, etc. So, trust me, I've SEEN really awful treatment. I mean to the point of hanging up in tears, feeling like a worthless piece of...you know what. It's been many years but I sitll remember how it felt to be treated so poorly--and what made it worse was that our financial situation was caused by catastrophic medical bills--not something most people at 21, 22 have to deal with. It was such a slap in the face to be treated like dirt for something that I'd had no control over. Like, gee, I'm sorry that--at TWENTY-ONE--I didn't have a million dollars saved up for an emergency! Give me a break.

 

Sorry, I'm rambling. My point is, I KNOW bad or sub-par treatment exists. All I'm saying about my interactions, specifically with BofA, is that they treat me as if they really mean it when they thank me for my long relationship, plus, based on their bend-over-backward help when I really needed it, I'm very happy with them. I can't think of one bad thing to say about them after 31 years, and--in today's world where crappy service is so common--I think that's amazing!

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Message 22 of 26
NoHardLimits
Frequent Contributor

Re: Do banks value longevity?

I've found that banks value relationships more than simple longevity.  The more products and assets you have, the better treatment you are likely to receive. 

 

When CSRs call you a valuable customer, that is often just a script they are following when they first begin speaking to you.  It would be like "Hello NoHardLimits.  Thank you for being a valuable customer since <insert year here>.  How can I help you today?"

 

For branch banking, it is more about the specific personnel rather than the financial institution.  For example, there are 4 Chase branches within easy reach of me.  One has great service, one has good service, the other two I avoid except just to use the ATM.

 

 

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Message 23 of 26
Remedios
Credit Mentor

Re: Do banks value longevity?


@SoCalGardener wrote:

@FinStar wrote:

@SoCalGardener wrote:

Reading some of these negative posts makes me feel sad for the people who've never experienced great service from a bank. I don't doubt your experiences at all--I'm just sorry you haven't had the great experiences I have. I'm sure crappy banks like those described in this thread exist, but so do good ones! I feel luckier and more grateful now than I did before....


You also have to think beyond the scope of your experience. Not long ago a colleague of mine left BoA/Merrill Lynch due to a very complex but horrible experience. And, while I personally have not had any major issues with BoA/ML in over 20 years, their experience was just as valid for the simple reason that regardless how much of a cheerleader you may be for X institution (no one is denying you had above-and-beyond results), negative experiences will still happen with just about any enterprise. Unfortunately, individuals tend to remember them more than the positive ones, just human nature.


You may recall a thread I posted last year, about what a difference your credit standing makes in the way you're treated. I complained that, years ago, when we didn't have enough money to keep the lights turned on, we were treated like pariahs by banks, utility companies, credit card companies, etc. So, trust me, I've SEEN really awful treatment. I mean to the point of hanging up in tears, feeling like a worthless piece of...you know what. It's been many years but I sitll remember how it felt to be treated so poorly--and what made it worse was that our financial situation was caused by catastrophic medical bills--not something most people at 21, 22 have to deal with. It was such a slap in the face to be treated like dirt for something that I'd had no control over. Like, gee, I'm sorry that--at TWENTY-ONE--I didn't have a million dollars saved up for an emergency! Give me a break.

 

Sorry, I'm rambling. My point is, I KNOW bad or sub-par treatment exists. All I'm saying about my interactions, specifically with BofA, is that they treat me as if they really mean it when they thank me for my long relationship, plus, based on their bend-over-backward help when I really needed it, I'm very happy with them. I can't think of one bad thing to say about them after 31 years, and--in today's world where crappy service is so common--I think that's amazing!


 

I'm a little confused here.

If the events you're describing happened when you were 21, then at the time, it couldn't have been due to longevity. 

I'm not discrediting your experience, I'm glad you had some light during that ordeal, but at 21, you were barely old enough to have an account of your own, so you couldn't have been a customer for long enough for longevity to become a factor.

 

If financial issues you're describing are more recent, disregard my post.  

 

I'm glad your experiences with BoA fall under pleasant. For me, the only expectation is that lender be competent enough to resolve issues should they happen, and in general, that's been my experience with just about all of them. 

 

 

Maybe I'm just too much of a realist with muted emotional reactions. 

 

Message 24 of 26
SoCalGardener
Valued Contributor

Re: Do banks value longevity?


@Remedios wrote:

@SoCalGardener wrote:

@FinStar wrote:

@SoCalGardener wrote:

Reading some of these negative posts makes me feel sad for the people who've never experienced great service from a bank. I don't doubt your experiences at all--I'm just sorry you haven't had the great experiences I have. I'm sure crappy banks like those described in this thread exist, but so do good ones! I feel luckier and more grateful now than I did before....


You also have to think beyond the scope of your experience. Not long ago a colleague of mine left BoA/Merrill Lynch due to a very complex but horrible experience. And, while I personally have not had any major issues with BoA/ML in over 20 years, their experience was just as valid for the simple reason that regardless how much of a cheerleader you may be for X institution (no one is denying you had above-and-beyond results), negative experiences will still happen with just about any enterprise. Unfortunately, individuals tend to remember them more than the positive ones, just human nature.


You may recall a thread I posted last year, about what a difference your credit standing makes in the way you're treated. I complained that, years ago, when we didn't have enough money to keep the lights turned on, we were treated like pariahs by banks, utility companies, credit card companies, etc. So, trust me, I've SEEN really awful treatment. I mean to the point of hanging up in tears, feeling like a worthless piece of...you know what. It's been many years but I sitll remember how it felt to be treated so poorly--and what made it worse was that our financial situation was caused by catastrophic medical bills--not something most people at 21, 22 have to deal with. It was such a slap in the face to be treated like dirt for something that I'd had no control over. Like, gee, I'm sorry that--at TWENTY-ONE--I didn't have a million dollars saved up for an emergency! Give me a break.

 

Sorry, I'm rambling. My point is, I KNOW bad or sub-par treatment exists. All I'm saying about my interactions, specifically with BofA, is that they treat me as if they really mean it when they thank me for my long relationship, plus, based on their bend-over-backward help when I really needed it, I'm very happy with them. I can't think of one bad thing to say about them after 31 years, and--in today's world where crappy service is so common--I think that's amazing!


 

I'm a little confused here.

If the events you're describing happened when you were 21, then at the time, it couldn't have been due to longevity. 

I'm not discrediting your experience, I'm glad you had some light during that ordeal, but at 21, you were barely old enough to have an account of your own, so you couldn't have been a customer for long enough for longevity to become a factor.

 

If financial issues you're describing are more recent, disregard my post.  

 

I'm glad your experiences with BoA fall under pleasant. For me, the only expectation is that lender be competent enough to resolve issues should they happen, and in general, that's been my experience with just about all of them. 

 

Maybe I'm just too much of a realist with muted emotional reactions. 

 


Well, I left home at 16, got married at 17 (no, I didn't "have to"), and started banking then, on a joint checking account with my 24-year-old husband. Got my first credit card at 18. By 21, I was very ill with gyn issues, nearly died, spent a year in and out of hospitals, multiple surgeries, many attempts at drug treatment, lots of blood transfusions... trying to save my reproductive organs, and ended up with a total abdominal hysterectomy--including both ovaries--at 22.

 

No, we did not have any longevity with any one entity at that time, because we had moved from place to place, across the country. The two things--bad/awful customer service and longevity--have nothing to do with each other! My only reason for bringing up the awful service I experienced is to underscore that I *personally* am familiar with really bad treatment; sorry if it got confused with long-term relationships.

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Message 25 of 26
Gollum
Established Contributor

Re: Do banks value longevity?


@James3 wrote:

Are there banks that value the length of time someone has had a credit account open at their bank? I know that if I call customer service the person I'm speaking with can see the date I opened the card, but does the longevity matter? To be clear, I'm talking about years, not months. 


Simmons Bank comes to mind, but as with any bank, your creditworthiness / FICO score(s) matter(s).

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Message 26 of 26
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