Does banking with the CCC help with CLI?

[Darius1976]

I have been banking with BOA for about 10 years.  I also have the Rewards 321 Card with them.  Does having a checking/savings account with them factor anything with making a decision towards a CLI?

Thanks!

[DaveSignal]

I don't think it matters. I don't have any banking accounts with BoA (and am glad that I don't, because I don't think that have very good banking benefits), and I received more than 2x CLI by using the card a lot, paying my balances in full, and then asking for it after some time. Maybe if you have an extremely large amount of money in the bank with BoA, you could use that to negotiate, but I don't really think it is a top criteria. They want to see how you use your credit.

[FinStar]

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@DaveSignal wrote:
I don't think it matters. I don't have any banking accounts with BoA (and am glad that I don't, because I don't think that have very good banking benefits), and I received more than 2x CLI by using the card a lot, paying my balances in full, and then asking for it after some time. Maybe if you have an extremely large amount of money in the bank with BoA, you could use that to negotiate, but I don't really think it is a top criteria. They want to see how you use your credit.

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+1

Yes and no.  Chase, BoA, WFB and Citi are amongst a few that *may* potentially consider those assets, but we're talking pretty hefty balances or a well-leveraged relationship.

[longtimelurker]

Rant mode:  The POSSIBILITY of getting a CLI should drive almost no decisions, certainly not where to bank.    Banking with your issuer might be the right decision, based on location, ease of having one place to contact about everything, or you really fancy a member of staff, but CLI?  And at least two factors may argue against:

1) Interest rates on deposits (checking, savings MM etc) at the big credit card issuing banks tend to be very small compared to online banks and some other institutions

2) Perhaps too much information.   I don't know how much sharing goes on, but it could go either way: if having a bank account helps, maybe having a decreasing balance would hurt ("Guess this person is in financial difficulties, no CLI for sure!)

[lg8302ch]

I cannot imagine..especially if you have no assets with them...to be fair I have to admit I never tried to push my CLs with BofA...next years mission and curious to the results

[dodgerslv]

Im my personal experience it could play a factor to a certain point. I have accounts with WF, BofA, and Chase. over 5 digits on all 3 and 6 with chase spread accross checking/savings/brokerage/CDs. I just got approved for my 3rd and 4th credit card with Chase and have over 30K in limits with BofA, i keep wondering if my banking relationship plays a factor and i have feeling it does. Just my 2 cents of course.

[longtimelurker]

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@dodgerslv wrote:

Im my personal experience it could play a factor to a certain point. I have accounts with WF, BofA, and Chase. over 5 digits on all 3 and 6 with chase spread accross checking/savings/brokerage/CDs. I just got approved for my 3rd and 4th credit card with Chase and have over 30K in limits with BofA, i keep wondering if my banking relationship plays a factor and i have feeling it does. Just my 2 cents of course.

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And I have over $50K CL with each of Citi and Chase and Capital One.  I have never had any banking relation with Citi and Chase, and only opened a Cap One account many years after getting the cards.

[dodgerslv]

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@longtimelurker wrote:

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@dodgerslv wrote:

Im my personal experience it could play a factor to a certain point. I have accounts with WF, BofA, and Chase. over 5 digits on all 3 and 6 with chase spread accross checking/savings/brokerage/CDs. I just got approved for my 3rd and 4th credit card with Chase and have over 30K in limits with BofA, i keep wondering if my banking relationship plays a factor and i have feeling it does. Just my 2 cents of course.

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And I have over $50K CL with each of Citi and Chase and Capital One.  I have never had any banking relation with Citi and Chase, and only opened a Cap One account many years after getting the cards.

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I agree, alot of times it doesnt really matter. At the end it comes down to your overall credit picture. I just feel that sometimes if you are asking for a CLI and they see your total assets in your banking relationship, they may be more leneint on granting your the request especially if you have baddies on your CR. Thats the case with me, still have Chargeoffs from years ago and one collection on my report yet i have never been turned down for a CLI with BofA. Again, just my thoughts...LOL

[enharu]

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@FinStar wrote:

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@DaveSignal wrote:
I don't think it matters. I don't have any banking accounts with BoA (and am glad that I don't, because I don't think that have very good banking benefits), and I received more than 2x CLI by using the card a lot, paying my balances in full, and then asking for it after some time. Maybe if you have an extremely large amount of money in the bank with BoA, you could use that to negotiate, but I don't really think it is a top criteria. They want to see how you use your credit.

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+1

Yes and no.  Chase, BoA, WFB and Citi are amongst a few that *may* potentially consider those assets, but we're talking pretty hefty balances or a well-leveraged relationship.

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+2.

Banking relationship will help only if you have a sizable amount of deposits with that bank, but it can only help so much. Banks are not going to overlook major and/or reject derogs simply because you have a sizable deposit with them either. A lot of banks will also evaluate you based on your average daily balance for the past 12 / 24 months.

[Anonymous]

As a general rule of thumb, banks maintain their credit cards as a separate legal entity (loss prevention) and as such keep an arms length between the two. That said however, some banks have a "relationship scoring" program that they use to enhance their product portfolio with their customers. It is this relationship that may give a little extra to a customer. I know the bigger banks have done this in the past and my bank does it now.