Questions about last history with US Bank/Opening CD with BofA

[Bees18]

Was planning to open a CD at BofA, after they denied a SL recon on a recent card I was approved for with a low limit. They said the reason was too little use of their financial products or lack of deposits something like that. When I was filling out the app it made it sound like they were gonna pull my credit? I don't want to do this if it's gonna give me another inquiry. Thought doing something like this would be an easy app since I'm just adding money. 

The other thing I was planning to do was start building a relationship with US Bank, by opening up a savings or something with them, I plan to app for a card there in the future 1-2 years. But my spouse about 10 years ago had an checking account with them, which I was on when we first got married, and they over drew it accidenlty when they stopped using it. (Something auto withdrew from there after changing banks and it set overdrawn for several months.). We found out, paid it, and closed the account. Since it was his account but my name was added later, would this reflect badly on me for future approvals? And if they ever wanted to get a card with US Bank, would they be denied due to their past banking mistake a decade ago? 

And im guessing they at least pull chexsytems for both...so which would I want to do first or does it matter.

[FireMedic1]

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@Bees18 wrote:

Was planning to open a CD at BofA, after they denied a SL recon on a recent card I was approved for with a low limit. They said the reason was too little use of their financial products or lack of deposits something like that. When I was filling out the app it made it sound like they were gonna pull my credit? I don't want to do this if it's gonna give me another inquiry. Thought doing something like this would be an easy app since I'm just adding money. 

The other thing I was planning to do was start building a relationship with US Bank, by opening up a savings or something with them, I plan to app for a card there in the future 1-2 years. But my spouse about 10 years ago had an checking account with them, which I was on when we first got married, and they over drew it accidenlty when they stopped using it. (Something auto withdrew from there after changing banks and it set overdrawn for several months.). We found out, paid it, and closed the account. Since it was his account but my name was added later, would this reflect badly on me for future approvals? And if they ever wanted to get a card with US Bank, would they be denied due to their past banking mistake a decade ago? 

And im guessing they at least pull chexsytems for both...so which would I want to do first or does it matter.

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Little confusing. You did a recon and got a lower limit card. But then was converted to joint checking. If you got a low limit card. Spouse would be in the same boat and get a low limit also. If approved. Checking accounts aren't like AU on a credit card. Your both respoonsible.

[GApeachy]

I'd start with US Bank first.  BoA is looking like 50/50 from your description.  I'd at least gamble on sliding in with US Bank.....waste or not waste that hp there first.  Know what I mean?

[AndySoCal]

@Bees18When you stated  "They said the reason was too little use of their financial products or lack of deposits something like that"

Do you have a checking account with B of A that is not actively being used ?

[Bees18]

@AndySoCalYes I did have checking, but they are not my main bank so I rarely ever use it. Which is why I thought opening a CD might help (just want to make sure they wouldn't hard pull for that, the app looked like it would )

[Bees18]

@FireMedic1  Sorry the way I worded that was confusing. Spouse isn't apping. I append and got a BofA cardwith a low limit (after already having a high limit card with them, but a checking I don't use). I tried to recon the starting limit to increase it and they said no because "the account was too new (just opened) and because I didn't hold enough money with them or use their financial products something along those lines.

Then the question about US Bank, which I don't plan to app for for another year or two, was that my spouse had a checking account with them a decade ago which he accidently let get overdrawn when we changed banks. He paid it off, but I was also on this bank account at the time (added when when got married). Neither if us have a card with them or have done anything woth them since. I am wondering in the future if I app for their card....would me being in his decade old bank account which got overdrawn, would that effect my own chances of approval. Hope that makes more sense 

[AndySoCal]

@Bees18Some banks will use the checking account as gauge of how a consumer manages their money.  It appears that is what Bank of America is referring to possibly with comment you referred to. if you are not using the account I would consider closing it.  With the savings rates big banks pay you can do much better elsewhere. US Bank I was a customer of I left them due to their savings rates. US Bank does very well at protecting the consumers money.  I would suggest a local credit union you can use the link below to find one in your area.

https://www.depositaccounts.com/ 

[GApeachy]

@Bees18 I'm not 100% clear what you're wanting to do as far as timeframe and idk where you live and which cb BoA or USB will pull either but there's a chart here.  If it's that you're trying to plan ahead (hp's) , getting your foot in the door (again?) with USB I believe you'd get a hp for both the cd at BoA and opening a checking at USB,  and which should you do first(?).....am I following at all or did I miss it? 

If that didn't go over my head then to me in order to know where you'd stand with USB do you think opening a checking or savings acct. first would let you know where you stand with them as they can't use the excuse of a recent hp from BoA. Seems like it would be clear if the problem were due to history with spouses acct that was neg.