I have a question regarding a preapproved offer of a bank credit card from Washington Mutual. I already have a cap one classic, a providian gold, citibank classic, and just got preapproved for a sears card. Is there any benefit to me having a visa from my own bank? Or, am I just lowering my FICO score by adding another account?
RE: Bank visa card.. any benef If the interest rate is better than you now have, and a good credit line, and a low or no annual fee, GO FOR IT. You already have one or more accounts with WASHINGTON MUTUAL...it probably is a REAL "PRE-APPROVED", meaning no INQUIRY or a "SOFT INQUIRY".
RE: Bank visa card.. any benef I beg to differ.... My boyfriend got that same offer from Washington Mutual. But what's funny is when he opened his checking account, he also applied for the Washington Mutual Visa and I guess was never denied (he never received any correspondance regarding his app). I assumed it was because he already had a Mastercard from the Associates (same bank that issues Washington Mutual's card). I guess you can't have more than 1 Associates account? Or am I wrong?? Anyways....when the pre-approved offer came I knew it wasn't a for sure thing becuase he had just gotten this fat $1k collection account added to his credit reports like 5 months prior. Besides, I would rather have a card from my bank than from Cap1 or Providian for that matter! I was told that it always looks good that you have a card w/ your bank....makes it even easier to be approved for other stuff (i.e. auto loan) through them.
RE: Bank visa card.. any benef Check to see if they will allow the Washington Mutual Visa credit line to count for overdraft for your checking account. If so that may be of benefit to you. My own banks allow this and over draft came in handy awhile back when I messed up in adding up the check register.
RE: Bank visa card.. any benef Lenders don't match up your bank card lender with your checking account (bank) name -- it makes no difference to them. And YOUR bank is already going to know if you have a credit card AND do other banking with them, and they'll know you're applying for that car loan with them, too! Name doesn't really matter. What matters is credit line vs. current balance. MP$40 wrote: ------------------------------- ... I was told that it always looks good that you have a card w/ your bank....makes it even easier to be approved for other stuff (i.e. auto loan) through them.
RE: Bank visa card.. any benef Heck, a long time ago, I used my overdraft protection as a ready-made, pre-approved $1,000 loan from my credit union!
