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@Pat94108 wrote:I agree that it depends on the bank. I think it helps a lot with Chase from what I read on this board, but I also think BoFA likes that as well, based on an experience with them from a few years ago.
Right, we have statements from Chase insiders that it helps if the balance is substantial, but even the big balances won't overcome real baddies (so it helps in borderline cases only) Chase is integrated (e.g. if they have concerns with your banking, they usually close your credit cards too).
In other institutions the credit card and banking divisions are more separate, and there is no way of telling. For every story here that "I got a card from Bank X because of my account with them" we have lots of people with Bank X cards who have no banking relationship.
IMO, unless there is no effort or financial loss involved, changing banks to maybe get a better credit card deal isn't worth it: it might not work, and even if it does: what happens when you want to move it again to the next issuer? If having it helps, maybe removing it will hurt!
@longtimelurker wrote:
@Pat94108 wrote:I agree that it depends on the bank. I think it helps a lot with Chase from what I read on this board, but I also think BoFA likes that as well, based on an experience with them from a few years ago.
Right, we have statements from Chase insiders that it helps if the balance is substantial, but even the big balances won't overcome real baddies (so it helps in borderline cases only) Chase is integrated (e.g. if they have concerns with your banking, they usually close your credit cards too).
In other institutions the credit card and banking divisions are more separate, and there is no way of telling. For every story here that "I got a card from Bank X because of my account with them" we have lots of people with Bank X cards who have no banking relationship.
IMO, unless there is no effort or financial loss involved, changing banks to maybe get a better credit card deal isn't worth it: it might not work, and even if it does: what happens when you want to move it again to the next issuer? If having it helps, maybe removing it will hurt!
+1
though in my Recon with Bank of America the guy asked me if i have had any prior relationship with Bank of America before.
@AzaleaB wrote:
@DrZoidberg wrote:It depends. If you actually use the account and run a substantial amount then yes, it will.
I was able to get my BoA card from $2k to $20k in 5 months because of my banking relationship of 8 years with 4 accounts.
Were these auto-CLIs? I have a 6 year history with BoA with 3 accounts and keep over over 30k in my accounts at any one time. I have a BoA 321 Visa siggy at $7500 for 6 months and no auto- CLI.
It cost me 1 HP and 1 SP
@Chaselover wrote:
My scores were not good when i got my Freedom. The only reason i got approved was because i had a checking n savings account with Chase for a long time. So, it definitely counts.
Were you told that? Because people get Freedom with pretty low scores anyway (just not great CL or APR)
Think it made a difference in my Wells Fargo approval. I had previously had an account with them before I even became an adult and it was a joint account with my older sibling but I think there was an 80 dollar charge off somehow (though never showed up on my CR thankfully) and paid that off later to start my own account. Got denied a few times for their college card until many months later and having lots of positive history with the checking account. I just reconned and was approved not too long after.
I have a checking account with chase that I hardly ever use so I don't think it was that big of a factor in getting my card with them but was nice to be able to see the account before they called me to tell me I was approved.
It definitely helped when I got bank of america. They asked me if I had any boa accounts and I told them I had checking and savings. Got approved with a mediocre score at the time for 5k. I think it helps in certain situations but may not be a guarantee in all situations.
@longtimelurker wrote:
@Chaselover wrote:
My scores were not good when i got my Freedom. The only reason i got approved was because i had a checking n savings account with Chase for a long time. So, it definitely counts.Were you told that? Because people get Freedom with pretty low scores anyway (just not great CL or APR)
I had 0 credit history when i applied. But during recon, the lady told me that its because i hav a checking n savings account with a good amount from around 2 years that she is approving me. CS in approval letter read 607.