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Which major instution I should bank with...

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Established Contributor

Which major instution I should bank with...

and get some CCs after I garden?? I currently have Discover, Amex, Chase, and WF. My next goal is to get a CSP (possilby an Ink card as well lol), and maybe Citi. What else should I get? One of the reasons I was denied for Ink is because I "only" bank with WF and Chase..

 

EDIT: They didn't know I have an Amex and Discover for I app'd for Ink 2 weeks after getting Amex and Discover.

Starting Score: (1/15)TU: 690 EX: 690 EQ: 711
Current Score: (10/18) TU-8: 813 EX-8: 808 EQ: 797
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Message 1 of 68
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Frequent Contributor

Re: Which major instution I should bank with...

It would all depend on what banks you have in your area, I guess. I have B of A all over the place here and they haven't screwed me over yet so I use them. I also have a USAA checking account which is nice for the lack of ATM fees.


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Current Score: EQ 780 EX 814 TU 783
Goal Score: 800

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Frequent Contributor

Re: Which major instution I should bank with...

eh, I bank with Regions for checking.  It's really nothing more than a conduit to pay a couple utilities and debt payments,

And a MM account with Fidelity.

That's gooe enough for more credit cards than I'll ever need

My point being that I don't think it's a reason to be denied, often/ever

 

 

FICO EX 827, 2015 Feb; FICO EQ 836/900 (Citi), 2014 Dec; FICO TU08 818, 2015 Feb.

BofA Cash Rwrds Sig V 2013 10k; Fidelity Rewards AmEx /BofA 2013 15.4k; Chase Freedom Sig V 2002 24.1k; Chase Amazon Rwrds Sig V 2011 8k; Sam's Club MC 2002 10k; Dscvr It 2012 10k; Citi Dvdnd Plat Sel V 2013 8.9k; PenFed Plat Rwrds V 2013 20k; AmEx Blue Sky 2013 11.3k; AmEx BCP 2014 24.1k; Priceline Rwrds Sig V 2013 8.7k; PayPal Xtras GE Cap Plat MC 2012 5k

Message 3 of 68
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Senior Contributor

Re: Which major instution I should bank with...

+1 USAA is superlative IME and offers up to $15 refund of foreign ATM transaction fees, among other benefits of membership.

DCU EQ 5.0, Citi EQ 08 Bankcard, PenFed EX NG2
EX 08: AFCU, Amex, Chase, PSECU EX 98(?)
TU 08: Barclays, Discover
Message 4 of 68
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Member

Re: Which major instution I should bank with...

Depends what your location is and which bank has more presence in your area. I work for Chase and we have a heavy presence in the northeast ..and also expanding in 23 states ..sooo if you are in any of those states then def Chase Smiley Happy

AMEX GREEN [NPSL] ::: DISCOVER IT [$7800] ::: CHASE SAPPHIRE [$5000] ::: CHASE FREEDOM [$5000] ::: BARCLAYCARD ARRIVAL WMC [$5000] ::: CAP 1 VENTUREONE [$3000] ::: AMEX DELTA GOLD [$2000] ::: CAP 1 QS1 [$1250] ::: BOA CASH REWARDS [$1000] ::: CAP 1 PLATINUM [$750] ::: MACY'S RED CARD [$500]
Message 5 of 68
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Established Contributor

Re: Which major instution I should bank with...


@oscar_actuary wrote:

eh, I bank with Regions for checking.  It's really nothing more than a conduit to pay a couple utilities and debt payments,

And a MM account with Fidelity.

That's gooe enough for more credit cards than I'll ever need

My point being that I don't think it's a reason to be denied, often/ever

 

 


I think they just want to see a list of banks/cc companies that trust me. Idk. The last CSR I talked kinda insulted me when he told me that I "only have 2 banks [with CC history]." Techinically speaking, I also bank with Charles Scwab, and invest with them.. It's just that I don't have a CC with them..

Starting Score: (1/15)TU: 690 EX: 690 EQ: 711
Current Score: (10/18) TU-8: 813 EX-8: 808 EQ: 797
Goal Score: (7/20) 800+ for all three bureaus

Take the myFICO Fitness Challenge
Message 6 of 68
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Established Contributor

Re: Which major instution I should bank with...


@Manny121 wrote:

Depends what your location is and which bank has more presence in your area. I work for Chase and we have a heavy presence in the northeast ..and also expanding in 23 states ..sooo if you are in any of those states then def Chase Smiley Happy


Then recon me for an Ink card! jk Smiley Wink

I live in Socal, and I know there's a lot of Chase in here lol

Starting Score: (1/15)TU: 690 EX: 690 EQ: 711
Current Score: (10/18) TU-8: 813 EX-8: 808 EQ: 797
Goal Score: (7/20) 800+ for all three bureaus

Take the myFICO Fitness Challenge
Message 7 of 68
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Super Contributor

Re: Which major instution I should bank with...

For deposit accounts?

 

I don't think there's really much difference between the national banks.  Though, I think Chase has the most momentum and best strategy for the future, they're all embracing the future with mobile deposits, full online capabilities, and ATM banking.

 

Some general perceptions I have on the Banks:

 

1.  Chase - great if you have DD of $500, and do not conduct "high" risk or overly sophisticated transactions.

2.  BofA - in terms of security and function, best online bank (by far, in my view).

3.  Citi - mediocre in everything - only excels in int'l wires (they're the best here) - best for more sophisticated and complex international banking requirements.

4.  US Bank - best value for gold checking with auto CC payment, though lacking online features (charge .50 cents for mobile deposits where others are free).

5.  First Republic - My "grandfathers" bank - this bank is an anachronism with high fees, high deposit requirement, no tellers, and *all* sit down personal bankers. Very limited online banking, since I suspect most of their customers either don't use or eschew computers on general principle.

6.  USAA - good all around mobile banking, especially for full members.  Again, ideal for "low" risk and overall "unsophisticated" tranactions.

7.  Cap One & other free internet only banking - these are my favorites - no fees, direct deposit requirements, free checks, and everything is online based.

 

Some of I've noticed, and I do have or have had first experience with all of the above.  

 

However, better options is just to use a firm like Fidelity.  Open up a brokerage account, and just use their CMA features.  No need for "regular" bank.  Ideally, one should never have more than $1,000 in a checking account anyway, since anything above that should be linked to some kind of seperate higher yielding securities account, e.g. money market, etfs, etc.

 

And, you get to use the Fid 2% Amex, which is the best card if "cash" is your thing. 

Message 8 of 68
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Valued Contributor

Re: Which major instution I should bank with...

Chase - the most customer-friendly of all the big banks


Message 9 of 68
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Established Member

Re: Which major instution I should bank with...

I bank with Chase because of Chase Private Client - I get lots of freebies. 

 

I've been banking with Chase since I was in college 8 years ago... it's up to you where you should bank.  I would say stick with one so you develop a relationship.  I started out with free checking then to premier then to premier plus then most recently to private client.

Message 10 of 68
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