New Bank w/ Best Cards

[kshurika]

In addition to what I already have, I need a new bank and checking account. I want a bank that has low fees and doesn't charge you every time you forget to cross a 't' on a deposit slip. I thought I also should go with a bank that has superb credit cards.

I'm already with Chase for several years and I have a CFU and a CSP with them. Perhaps I'll apply for another of their cards once I figure out what it should be. In addition, I have these cards:

- CO Platinum secured (1st card of      rebuild)

- CO Quicksilver

- Amex BCP

- NFCU Platinum

-Discover it

I'd like to hear your suggestions for a bank or credit union that has good banking policies for its customers and also has superb credit cards. I'm already with NFCU and Sea Air Federal Credit Union. Everything except the secured CO Platinum has a good CL. I get good travel points with the two Chase cards (even though I still don't really know how to use the UR points, but I'm working on it). I haven't been investigating cards as doggedly as I used to, so my edge is a little dull.

Any advice you might have is appreciated.

[Horseshoez]

Depending upon where you live, TDBank might be a good option; their fee structure is like a breath of fresh air after having banked with one of the big banks for more than a decade.  I switched checking and savings last year for myself and my family; I've never had a problem avoiding fees for my accounts, ditto my wife, but my college age kids are a different story; I'm thinking we've already saved over $200 in fees alone since switching.  As for the credit card thing, the TDCash (with 1%, 2%, and 3% rewards tiers) and TD Double Up card (flat 2% rewards on everything); they are what I would call "good" cards, not the absolute best out there, but not bad either, and managing the cards if you also bank with TD is a snap.

Their one other market differentiating factor is the open hours of their branches; long hours and some are even open on Sundays.

[FormerCollegeDJ]

I definitely recommend trying to join a good credit union for which you qualify in your area.  Don't focus on their credit cards; they may or may not have good credit cards.  If they do, that's a bonus, but if they don't, that shouldn't be a dealbreaker.  (Also, in most cases the very large banks have the best credit cards IMO, excluding possibly the flat rate reward credit cards.)  The goal with joining a financial institution should be how good of loans for major items (house, car, etc.) you can get from them, how low/nonexistent their fees are (say on checking accounts), and how high their savings (and in some cases, checking) account interest rates are.

[kshurika]

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@FormerCollegeDJ wrote:

I definitely recommend trying to join a good credit union for which you qualify in your area.  Don't focus on their credit cards; they may or may not have good credit cards.  If they do, that's a bonus, but if they don't, that shouldn't be a dealbreaker.  (Also, in most cases the very large banks have the best credit cards IMO, excluding possibly the flat rate reward credit cards.)  The goal with joining a financial institution should be how good of loans for major items (house, car, etc.) you can get from them, how low/nonexistent their fees are (say on checking accounts), and how high their savings (and in some cases, checking) account interest rates are.

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Well, yes, it's been my experience that credit unions are far nicer and more forgiving than any bank, although I've had almost no problems with Chase and I find their cards to be superior in almost every respect. My NFCU Platinum card is as superb as it's often portrayed on these forums. It's possible I might just use a credit union as my next checking account, but, I'm always looking for a good credit card with lots of cash back, or travel/restaurant points. Thanks for your reply.

[kshurika]

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@Horseshoez wrote:

Depending upon where you live, TDBank might be a good option; their fee structure is like a breath of fresh air after having banked with one of the big banks for more than a decade.  I switched checking and savings last year for myself and my family; I've never had a problem avoiding fees for my accounts, ditto my wife, but my college age kids are a different story; I'm thinking we've already saved over $200 in fees alone since switching.  As for the credit card thing, the TDCash (with 1%, 2%, and 3% rewards tiers) and TD Double Up card (flat 2% rewards on everything); they are what I would call "good" cards, not the absolute best out there, but not bad either, and managing the cards if you also bank with TD is a snap.

Their one other market differentiating factor is the open hours of their branches; long hours and some are even open on Sundays.

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Thanks for the suggestion. Regrettably, TD Bank doesn't do business in California.

[Anonymous]

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@FormerCollegeDJ wrote:

I definitely recommend trying to join a good credit union for which you qualify in your area.  Don't focus on their credit cards; they may or may not have good credit cards.  If they do, that's a bonus, but if they don't, that shouldn't be a dealbreaker.  (Also, in most cases the very large banks have the best credit cards IMO, excluding possibly the flat rate reward credit cards.)  The goal with joining a financial institution should be how good of loans for major items (house, car, etc.) you can get from them, how low/nonexistent their fees are (say on checking accounts), and how high their savings (and in some cases, checking) account interest rates are.

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I largely agree with this, but would go a little more extreme:  basically, with the choice available today, it generally makes sense to unbundle.  Go to one place, whether CU or bank, for great checking, another for best savings rates, etc for investing, retirement, mortgage and credit cards.   It's very hard for one institution to be very very good at all or even most of these.  Use sites like depositaccounts.com  or Doctor of Credit to help identify good choices in the banking side, both local and internet (and MyFico and similar for credit cards).  

[coldfusion]

Since you're already a member of NFCU I suggest you stick with them.  You're already in with Chase and you aren't going to find many banks or credit unions that have a portfolio of substantively better core cards than NFCU.

If you don't live near a physical NFCU branch you can also look into joining a different credit union that is a full participant in the CO-OP network (both ATM and shared-branch) that has physical branches local to you. 

[kshurika]

Yes, I've been thinking more and more about NFCU. There is a branch in my area. Not very convenient, but at least it's there. I think I'll go visit them next week.

[iced]

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@kshurika wrote:

In addition to what I already have, I need a new bank and checking account. I want a bank that has low fees and doesn't charge you every time you forget to cross a 't' on a deposit slip. I thought I also should go with a bank that has superb credit cards.

I'm already with Chase for several years and I have a CFU and a CSP with them. Perhaps I'll apply for another of their cards once I figure out what it should be. In addition, I have these cards:

- CO Platinum secured (1st card of      rebuild)

- CO Quicksilver

- Amex BCP

- NFCU Platinum

-Discover it

I'd like to hear your suggestions for a bank or credit union that has good banking policies for its customers and also has superb credit cards. I'm already with NFCU and Sea Air Federal Credit Union. Everything except the secured CO Platinum has a good CL. I get good travel points with the two Chase cards (even though I still don't really know how to use the UR points, but I'm working on it). I haven't been investigating cards as doggedly as I used to, so my edge is a little dull.

Any advice you might have is appreciated.

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Chase is the apex of the mountain when it comes to bank + card in one, IMO. If there's something specific you need from a new bank, I'd focus on that and not worry about the card offerings.

[Anonymous]

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@iced wrote:

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Chase is the apex of the mountain when it comes to bank + card in one, IMO. 

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Just wondering why!   What is good about the Chase banking side?