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Which major instution I should bank with...

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Valued Contributor

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


@HiLine wrote:

@bribro wrote:

@HiLine wrote:

@bribro wrote:

@bluesnowman wrote:

I'm with BOFA and Chase. I have had excellent experiences with both of them, however BOFA has the better of the online accounts, while Chase has the better CC portfolio. I also have a ROTH IRA (I opened it a couple of days ago) with Fidelity, and their customer service is good so far. Did I mention Chase has been really generous to me CL wise, even though my income is rather low (I'm a student.) and I will utilize their cards as much as I can. Even Amex or Citi hasn't been as generous to me. 



I've heard this a few times. What makes BofA's online experience better?


The online banking function is extremely well-developed and provides easy access to all financial accounts you have with BofA. BofA banking accounts typically carry more perks than those at other banks: you get free access to select museums, no maintenance fee if you use ATM's for simple transactions, no limit on credit card payments, and access to online shopping and local deals. Having a BofA banking account also gives you more value from their credit card rewards, typically 10% of the regular reward earning rate. Other major banks have a long way to go to catch up with BofA's online banking system.


 

How is that any different from Chase though? You can see your entire JPMC relationship online or via mobile apps, and as I recall Chase invented mobile check deposit technology. Chase account holders also have free access to museums (at least in the Bay Area). There's no limit on credit card payments that I'm aware of. Similar fee structure to BofA for basic checking accounts. You get a 10% bonus on the Chase Freedom credit card.

 

You could have replaced "BofA" with "Chase" in the post above and I wouldn't have known any better. Smiley Happy


Did not know Chase offered free museum access. Do you have a list of eligible places?

Chase will not allow multiple credit card payments within 3 days. And they won't let you pay more than the outstanding balance. The user interface is not as visually pleasing, friendly or informative. No tab browsing. 10% bonus is on the Freedom only. No local deals. Minimum deposit requirement for maintenance fee waiver.

I don't see how you can possibly compare Chase to BofA in this regard. Chase ranks below even Citi and Wells Fargo. https://scorecards.keynote.com/viewscorecard.aspx?iid=1&scid=10058&oid=1


I've gotten into the de Young Museum and CA Academy of Sciences in San Francisco for free by showing my Chase ATM card. Not sure what else is out there.

Fair enough about multiple credit card payments within 3 days. Although why anyone would want to do that, or pay more than their outstanding balance and thus give a bank an interest free loan, is beyond me. User interface is entirely subjective, but okay. As far as credit card bonuses, there is no question that Chase has better credit cards. I'll take up to 5.5x in UR points on a Freedom card vs. a 0.1x bonus on a BofA card any day.

 

Rankings are also entirely subjective. For instance, BofA has been rated the 2nd worst company in America for 3 years running now by the Consumerist: http://consumerist.com/2013/04/08/worst-company-in-america-final-death-match-bank-of-america-vs-ea-p...

TU FICO: 800 (2/1/14) | CK Score: 802 (2/1/14) | CS Score: 805 (2/1/14)

J.P. Morgan Palladium ($250k) | AmEx Platinum (NPSL) | AmEx SPG Personal/Business ($50k/$50k) | Citi Executive AAdvantage WEMC ($50k) | Citi Dividend WEMC ($50k) | Chase Sapphire Preferred VS ($50k) | Chase Ink Bold WEMC ($50k Flex) | Chase Ink Plus WEMC ($25k) | Chase Freedom VS ($25k) | Chase Freedom WMC ($25k) | Chase MileagePlus Explorer ($25k) | Chase Southwest RR Plus Business/Personal ($15k/$15k) | Barclays US Airways ($25k) | Barclays Hawaiian Airlines ($25k) | BofA Alaska Airlines ($10k) | Lexus Financial Services ($30k) | Mercedes-Benz Financial Services ($50k)
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Re: Which major instution I should bank with...


@bribro wrote:

 

Fair enough about multiple credit card payments within 3 days. Although why anyone would want to do that, or pay more than their outstanding balance and thus give a bank an interest free loan, is beyond me.


 

If you are curious why people feel bothered by that restriction, there are plenty of threads in this forum that complain about that very issue with legitimate reasons. You not finding the flexiblity useful doesn't mean others don't.

 


@bribro wrote:

 

As far as credit card bonuses, there is no question that Chase has better credit cards.


 

Yes, and how many of them give you a 10% bonus if you have banking relationship with them?

 


@bribro wrote:

 

Rankings are also entirely subjective. For instance, BofA has been rated the 2nd worst company in America for 3 years running now by the Consumerist: http://consumerist.com/2013/04/08/worst-company-in-america-final-death-match-bank-of-america-vs-ea-p...


Have you even read the ranking? Making a blanket statement does not resolve anything. The ranking you quoted has nothing to do with BofA's online banking experience.

Message 42 of 68
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Re: Which major instution I should bank with...


@Open123 wrote:

@enxinas wrote:

I agree. When I had my BofA business checking account, I felt that their online banking is the most secured out of all the banks I've dealt with.

BTW, since I used to bank with them, would they backdate their CC???


They don't backdate CCs, though they do list "member since" on debit/atm cards.  Aside for posterity's sake, not sure if there's any benefit to it.

 

Their online buisness suite with payroll integration is the main reason why we use them.  We've considered many times to move our business banking to Chase, but find it difficult to replace the ease and familiarity we have with their online banking features.  


oh ok thanks! So I tried to log in to BofA online, and I was suprised that I was able to do so (error after all the credential questions) even though my checking account has been long closed.. hmm so they don't completely erase one's information then...

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Message 43 of 68
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Re: Which major instution I should bank with...


@HiLine wrote:

 


@bribro wrote:

 

As far as credit card bonuses, there is no question that Chase has better credit cards.


 

Yes, and how many of them give you a 10% bonus if you have banking relationship with them?

 

I think you missed my point. I'd rather take a credit card with excellent rewards than one with a 10% bonus on mediocre rewards. I'm pretty sure most people would agree, which is why Chase CCs are so much more popular than BofA ones.

 


@bribro wrote:

 


@bribro wrote:

Rankings are also entirely subjective. For instance, BofA has been rated the 2nd worst company in America for 3 years running now by the Consumerist: http://consumerist.com/2013/04/08/worst-company-in-america-final-death-match-bank-of-america-vs-ea-p...


Have you even read the ranking? Making a blanket statement does not resolve anything. The ranking you quoted has nothing to do with BofA's online banking experience.


I did read the ranking. My point is that rankings are subjective. One ranking says they have a great online interface. Another one says they are the 2nd worst company in the entire country.

 

Chase has a tabbed interface too by the way, I think you may be thinking of their older interface from a couple of years ago.

TU FICO: 800 (2/1/14) | CK Score: 802 (2/1/14) | CS Score: 805 (2/1/14)

J.P. Morgan Palladium ($250k) | AmEx Platinum (NPSL) | AmEx SPG Personal/Business ($50k/$50k) | Citi Executive AAdvantage WEMC ($50k) | Citi Dividend WEMC ($50k) | Chase Sapphire Preferred VS ($50k) | Chase Ink Bold WEMC ($50k Flex) | Chase Ink Plus WEMC ($25k) | Chase Freedom VS ($25k) | Chase Freedom WMC ($25k) | Chase MileagePlus Explorer ($25k) | Chase Southwest RR Plus Business/Personal ($15k/$15k) | Barclays US Airways ($25k) | Barclays Hawaiian Airlines ($25k) | BofA Alaska Airlines ($10k) | Lexus Financial Services ($30k) | Mercedes-Benz Financial Services ($50k)
Message 44 of 68
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Re: Which major instution I should bank with...


@bribro wrote:

@HiLine wrote:

 


@bribro wrote:

 

As far as credit card bonuses, there is no question that Chase has better credit cards.


 

Yes, and how many of them give you a 10% bonus if you have banking relationship with them?

 

I think you missed my point. I'd rather take a credit card with excellent rewards than one with a 10% bonus on mediocre rewards. I'm pretty sure most people would agree, which is why Chase CCs are so much more popular than BofA ones.

 


@bribro wrote:

 


@bribro wrote:

Rankings are also entirely subjective. For instance, BofA has been rated the 2nd worst company in America for 3 years running now by the Consumerist: http://consumerist.com/2013/04/08/worst-company-in-america-final-death-match-bank-of-america-vs-ea-p...


Have you even read the ranking? Making a blanket statement does not resolve anything. The ranking you quoted has nothing to do with BofA's online banking experience.


I did read the ranking. My point is that rankings are subjective. One ranking says they have a great online interface. Another one says they are the 2nd worst company in the entire country.

 

Chase has a tabbed interface too by the way, I think you may be thinking of their older interface from a couple of years ago.


Yes ... I totally missed how the fact that Chase has better credit cards is relevant to the online banking experience discusion. I also missed how the fact that BofA is ranked the 2nd worst company by The Consumerist is relevant to the online banking experience discussion.

You're right, Chase has one level of tabs. I'm so used to the logically organized multi-level tabs of BofA's online banking site that I forgot that Chase had some sort of tab browsing too. My bad.

Message 45 of 68
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Re: Which major instution I should bank with...

 


@HiLine wrote:

@bribro wrote:

@HiLine wrote:

 


@bribro wrote:

 

As far as credit card bonuses, there is no question that Chase has better credit cards.


 

Yes, and how many of them give you a 10% bonus if you have banking relationship with them?

 

I think you missed my point. I'd rather take a credit card with excellent rewards than one with a 10% bonus on mediocre rewards. I'm pretty sure most people would agree, which is why Chase CCs are so much more popular than BofA ones.

 


@bribro wrote:

 


@bribro wrote:

Rankings are also entirely subjective. For instance, BofA has been rated the 2nd worst company in America for 3 years running now by the Consumerist: http://consumerist.com/2013/04/08/worst-company-in-america-final-death-match-bank-of-america-vs-ea-p...


Have you even read the ranking? Making a blanket statement does not resolve anything. The ranking you quoted has nothing to do with BofA's online banking experience.


I did read the ranking. My point is that rankings are subjective. One ranking says they have a great online interface. Another one says they are the 2nd worst company in the entire country.

 

Chase has a tabbed interface too by the way, I think you may be thinking of their older interface from a couple of years ago.


Yes ... I totally missed how the fact that Chase has better credit cards is relevant to the online banking experience discusion. I also missed how the fact that BofA is ranked the 2nd worst company by The Consumerist is relevant to the online banking experience discussion.

You're right, Chase has one level of tabs. I'm so used to the logically organized multi-level tabs of BofA's online banking site that I forgot that Chase had some sort of tab browsing too. My bad.


Why are you taking this personally? Is there a reason you're so strongly advocating for BofA? Could it be related to the lengthy blog post you wrote about them, and the ads you have displayed on your blog? You are the one that brought up the point about BofA having a 10% credit card bonus, and when I call you out on it you get all upset. Calm down.

 

Chase has up to three levels of tabs in their online interface by the way, although I'm not sure the depth of tab nesting is directly related to how good a website is. It's fine to compare/contrast features, but you seem to be going out of your way to make BofA seem like the best with little hard evidence to back it. And what little evidence you have provided is either factually wrong, or relatively minor.

TU FICO: 800 (2/1/14) | CK Score: 802 (2/1/14) | CS Score: 805 (2/1/14)

J.P. Morgan Palladium ($250k) | AmEx Platinum (NPSL) | AmEx SPG Personal/Business ($50k/$50k) | Citi Executive AAdvantage WEMC ($50k) | Citi Dividend WEMC ($50k) | Chase Sapphire Preferred VS ($50k) | Chase Ink Bold WEMC ($50k Flex) | Chase Ink Plus WEMC ($25k) | Chase Freedom VS ($25k) | Chase Freedom WMC ($25k) | Chase MileagePlus Explorer ($25k) | Chase Southwest RR Plus Business/Personal ($15k/$15k) | Barclays US Airways ($25k) | Barclays Hawaiian Airlines ($25k) | BofA Alaska Airlines ($10k) | Lexus Financial Services ($30k) | Mercedes-Benz Financial Services ($50k)
Message 46 of 68
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Re: Which major instution I should bank with...

And for the record, the OP was asking about which major institution he/she should bank with as it related to getting credit cards. So yeah, the fact that Chase has better credit cards is extremely relevant, and your tangential points about BofA having a subjectively better online interface are not.

TU FICO: 800 (2/1/14) | CK Score: 802 (2/1/14) | CS Score: 805 (2/1/14)

J.P. Morgan Palladium ($250k) | AmEx Platinum (NPSL) | AmEx SPG Personal/Business ($50k/$50k) | Citi Executive AAdvantage WEMC ($50k) | Citi Dividend WEMC ($50k) | Chase Sapphire Preferred VS ($50k) | Chase Ink Bold WEMC ($50k Flex) | Chase Ink Plus WEMC ($25k) | Chase Freedom VS ($25k) | Chase Freedom WMC ($25k) | Chase MileagePlus Explorer ($25k) | Chase Southwest RR Plus Business/Personal ($15k/$15k) | Barclays US Airways ($25k) | Barclays Hawaiian Airlines ($25k) | BofA Alaska Airlines ($10k) | Lexus Financial Services ($30k) | Mercedes-Benz Financial Services ($50k)
Message 47 of 68
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Re: Which major instution I should bank with...


@bribro wrote:

 


@HiLine wrote:

@bribro wrote:

@HiLine wrote:

 


@bribro wrote:

 

As far as credit card bonuses, there is no question that Chase has better credit cards.


 

Yes, and how many of them give you a 10% bonus if you have banking relationship with them?

 

I think you missed my point. I'd rather take a credit card with excellent rewards than one with a 10% bonus on mediocre rewards. I'm pretty sure most people would agree, which is why Chase CCs are so much more popular than BofA ones.

 


@bribro wrote:

 


@bribro wrote:

Rankings are also entirely subjective. For instance, BofA has been rated the 2nd worst company in America for 3 years running now by the Consumerist: http://consumerist.com/2013/04/08/worst-company-in-america-final-death-match-bank-of-america-vs-ea-p...


Have you even read the ranking? Making a blanket statement does not resolve anything. The ranking you quoted has nothing to do with BofA's online banking experience.


I did read the ranking. My point is that rankings are subjective. One ranking says they have a great online interface. Another one says they are the 2nd worst company in the entire country.

 

Chase has a tabbed interface too by the way, I think you may be thinking of their older interface from a couple of years ago.


Yes ... I totally missed how the fact that Chase has better credit cards is relevant to the online banking experience discusion. I also missed how the fact that BofA is ranked the 2nd worst company by The Consumerist is relevant to the online banking experience discussion.

You're right, Chase has one level of tabs. I'm so used to the logically organized multi-level tabs of BofA's online banking site that I forgot that Chase had some sort of tab browsing too. My bad.


Why are you taking this personally? Is there a reason you're so strongly advocating for BofA? Could it be related to the lengthy blog post you wrote about them, and the ads you have displayed on your blog? You are the one that brought up the point about BofA having a 10% credit card bonus, and when I call you out on it you get all upset. Calm down.

 

Chase has up to three levels of tabs in their online interface by the way, although I'm not sure the depth of tab nesting is directly related to how good a website is. It's fine to compare/contrast features, but you seem to be going out of your way to make BofA seem like the best with little hard evidence to back it. And what little evidence you have provided is either factually wrong, or relatively minor.


Well, you can save the accusing part. My blog is completely ad-free and neutral. I say BofA offers 10% credit card bonus if you bank with them - when did I ever comment on their credit card portfolio? You are the one who brought that up. You keep evading my points and have turned this into a personal attack. Why did you have to do that? And then tell me to calm down. Thanks.

I am not going out of my way to make BofA seem like the best. I simply gave you the evidence, my personal experience, as well as a reliable industry survey, and you dismissed the survey by saying all rankings are subjective. So what evidence would please you?

The only thing I said wrong was that Chase did not have tab browsing, and I admitted my mistake and said sorry. If you consider the features I mentioned minor, then what is a major feature in online banking experience in your opinion? I am all ears.

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


@bribro wrote:

And for the record, the OP was asking about which major institution he/she should bank with as it related to getting credit cards. So yeah, the fact that Chase has better credit cards is extremely relevant, and your tangential points about BofA having a subjectively better online interface are not.


Allow me to quote the post of yours that I responded to, and allow me to bolden and zoom the specific question to which I addressed everything said afterwards.

 


@bribro wrote:

@HiLine wrote:

@bribro wrote:

@bluesnowman wrote:

I'm with BOFA and Chase. I have had excellent experiences with both of them, however BOFA has the better of the online accounts, while Chase has the better CC portfolio. I also have a ROTH IRA (I opened it a couple of days ago) with Fidelity, and their customer service is good so far. Did I mention Chase has been really generous to me CL wise, even though my income is rather low (I'm a student.) and I will utilize their cards as much as I can. Even Amex or Citi hasn't been as generous to me. 



I've heard this a few times. What makes BofA's online experience better?


The online banking function is extremely well-developed and provides easy access to all financial accounts you have with BofA. BofA banking accounts typically carry more perks than those at other banks: you get free access to select museums, no maintenance fee if you use ATM's for simple transactions, no limit on credit card payments, and access to online shopping and local deals. Having a BofA banking account also gives you more value from their credit card rewards, typically 10% of the regular reward earning rate. Other major banks have a long way to go to catch up with BofA's online banking system.


 

How is that any different from Chase though? You can see your entire JPMC relationship online or via mobile apps, and as I recall Chase invented mobile check deposit technology. Chase account holders also have free access to museums (at least in the Bay Area). There's no limit on credit card payments that I'm aware of. Similar fee structure to BofA for basic checking accounts. You get a 10% bonus on the Chase Freedom credit card.

 

You could have replaced "BofA" with "Chase" in the post above and I wouldn't have known any better. Smiley Happy


 I was hoping that was an honest question and I was trying to explain to you my reasoning, but you seemed to have the need to defend Chase. My intention is not to glorify BofA or to bash Chase. If I'm not being helpful by providing you with the information I thought you might be seeking, I will gladly withdraw from the discussion.

Message 49 of 68
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Re: Which major instution I should bank with...


@HiLine wrote:
Well, you can save the accusing part. My blog is completely ad-free and neutral. I say BofA offers 10% credit card bonus if you bank with them - when did I ever comment on their credit card portfolio? You are the one who brought that up. You keep evading my points and have turned this into a personal attack. Why did you have to do that? And then tell me to calm down. Thanks.

I am not going out of my way to make BofA seem like the best. I simply gave you the evidence, my personal experience, as well as a reliable industry survey, and you dismissed the survey by saying all rankings are subjective. So what evidence would please you?

The only thing I said wrong was that Chase did not have tab browsing, and I admitted my mistake and said sorry. If you consider the features I mentioned minor, then what is a major feature in online banking experience in your opinion? I am all ears.

Well I would certainly hope you're neutral when giving financial advice, although it is interesting that you have 2 blog posts about BofA on your homepage and none specifically about any other issuers/banks.

Of course I brought up Chase's superior credit card portfolio. The OP was asking about which major banking institution he should go with as it related to getting credit cards. It makes logical sense that he chooses the one that has the best credit card portfolio. He even specifically mentioned being denied for a Chase Ink card, and in that situation a banking relationship could have been helpful.

 

How am I evading your points? You said BofA gives you a 10% bonus if you bank with them, I responded that Chase does the same for their Freedom card and they have a better credit card portfolio anyway. That's a perfectly valid, direct response to your point. You're the one who responded with excessive sarcasm, about the credit card portfolio and tabbed interface, the latter of which is by your own admission factually wrong.

  

What evidence have you given that's actually valid? Here's a breakdown of the "evidence" you've provided thus far:

  

  • The online banking function is extremely well-developed and provides easy access to all financial accounts you have with BofA - Chase does the same thing. All accounts are consolidate in one view. They invented mobile check depositing and have arguably the best mobile apps.
  • You get free access to select museums - Same with Chase.
  • No maintenance fee if you use ATM's for simple transactions - Same with Chase. And if you do pay a checking account maintenance fee, Chase has one that's lower than BofA's ($10 vs. $12).
  • No limit on credit card payments - Like I said, fair enough, but that's for the relative few that want to make payments more than once every 3 days and like to give banks interest free loans by overpaying their balances.
  • Online shopping and local deals - I don't know much about the BofA online shopping portal, but have a sneaking suspicion that the UR mall is at least on par.
  • Having a BofA banking account also gives you more value from their credit card rewards, typically 10% of the regular reward earning rate. - Having a Chase account gets you a 10% bonus on the Freedom card, and they have better credit cards overall.
  • Tabbed interface - Chase has tabbed interface too.

So with all your posts, the only advantage is that BofA allows you to overpay your bill, and send payments more frequently. And again, none of this is particularly relevant to the OP.

TU FICO: 800 (2/1/14) | CK Score: 802 (2/1/14) | CS Score: 805 (2/1/14)

J.P. Morgan Palladium ($250k) | AmEx Platinum (NPSL) | AmEx SPG Personal/Business ($50k/$50k) | Citi Executive AAdvantage WEMC ($50k) | Citi Dividend WEMC ($50k) | Chase Sapphire Preferred VS ($50k) | Chase Ink Bold WEMC ($50k Flex) | Chase Ink Plus WEMC ($25k) | Chase Freedom VS ($25k) | Chase Freedom WMC ($25k) | Chase MileagePlus Explorer ($25k) | Chase Southwest RR Plus Business/Personal ($15k/$15k) | Barclays US Airways ($25k) | Barclays Hawaiian Airlines ($25k) | BofA Alaska Airlines ($10k) | Lexus Financial Services ($30k) | Mercedes-Benz Financial Services ($50k)
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