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The Benefits of Banking With Your Creditor


The Benefits of Banking With Your Creditor

Hey guys, 

I wanted to see if anyone has taken advantage of having a sizable savings/checking account with their respective banks.


I have about 75k in a savings account with Chase. At the time establishment, my personal banker mentioned that with the plus savings account, I'd most likely be approved for any credit card issued by JP Morgan (Besides Palladium, of course).


I tried my luck at this with the freedom last October, and was declined due to too many inquiries (8 within the last 12 months) and an average FICO score of 690. When I called in and mentioned my savings account, they offered an immediate recon and then approved me for a CL of $5,000, and then recently a CLI to $15k. This was also true with the Sapphire preferred for which was I approved at a $15,000 CL.


Would this be the  case with most banks? I'm sorry if I seem a bit naive but I'd figure that they'd stick their guns even considering the obvious collateral.


Anyone have the same experience?

hr>Starting Score: 600
Current Score: Transunion: 715 (pulled 3/2013)
Goal Score: 800

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Message 1 of 6
New Contributor

Re: The Benefits of Banking With Your Creditor

Well I'm no Chase personal banker, but someone else on here who is said Chase is very big on relationships (having a good amount of cash with them) and those who have a nice relationship with them are in their good graces.  I'd imagine the same would apply to most lenders since it only makes sense.  If I was a creditor and I already had $75k of your money deposited with me, I'd be okay with lending you 15k.

Age: 20 | AAoA: 1.1 Years | TU Fico: 725 | EX Fico: 719 | EQ Fico: 693
Last App: 12/09/2013
Message 2 of 6
Established Contributor

Re: The Benefits of Banking With Your Creditor

Yes, same here. Two Chase personal cards (CSP and Priority Club) and two business (Ink Cash and Bold) pretty much nice limits and no issues getting them. Have an auto loan as well. Balances between several accounts averaged a little above $100,000 last year with a few really big spikes for business deposits. My banker says it does help quite a bit. 

Message 3 of 6
Valued Contributor

Re: The Benefits of Banking With Your Creditor

Chase would have probably approved you on a recon anyway. They are very good with recons.

My Wallet:
WalMart: ||15k|| USAA Platinum MC: ||26k|| BCE: ||9k|| Chase Freedom Siggy: ||10k|| Discover it: ||6.5k|| SG Visa: ||11k||
USAA World MC: ||23k|| US Bank Cash+ Siggy: ||7.5k|| Citi TYP World MC: ||12k|| Barclays Arrival World MC: ||13k||Citi Double Cash World MC ||25k||Sallie Mae World MC ||18.8k||Fico Scores (3 Fico Monitoring): EQ 751,TU 749, EX 743. Last app: 9-12-14 Sallie
Message 4 of 6
Senior Contributor

Re: The Benefits of Banking With Your Creditor

I'd have more money with Chase if they paid a competitive rate like Amex on Personal Savings!
Marriott PR$25k | BCE $24.5K |BankAmericard Visa $25k| BOA Better Bal $17.5k |Wmt Discover $12.5k | BR Visa $17.5k | Amex Delta Gold $10k | Discover IT $10k | Paypal Extras MC $15k | Amazon Store $10k|Smile Gen $7.25k | Dillard's $10k | West Elm $4k| Express $3.05K | Visa $4.5k | Freedom Visa $1k| Amex Surpass $1k
Message 5 of 6
Established Contributor

Re: The Benefits of Banking With Your Creditor

Hmmm, I never thought about that.  Oh well, when I think of Comerica, I definitely don't think about rewards CCs.  I'll just stick to banking with them.

TU713, EQ 731 , EX 726 (As of 12/13/14) - Personal Goal = 760

“Beware of little expenses. A small leak will sink a great ship” – Benjamin Franklin

Gardening since 3-26-15

Message 6 of 6