Q about banking

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9 posts
icewater
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Q about banking

Postby icewater » Wed Dec 12, 2012 11:41 am

I recently received a Chase Freedom card and saw online either on this board or somewhere that I could get $200 dollars from Chase AS WELL AS a 10% bonus check on all cash back for the year each and every year just by opening a Chase checking account.

Now, this sounds like a no brainer to me except for the fact that my Wells Fargo account is listed on my credit reports as my longest account (since 1997) and if I close it, I think it would hurt my credit. Wouldn't it? I think it is the AAoA or something?

So, I guess what would you guys do? Close the WF account and open Chase or stay with WF? If you suggest stay with both, who should be my primary? Where should my direct deposit go?

I have no loyalty to WF I just went with them at the time (1997) , I was really bad with money then and they were one of the only ones that would even give me an account. However, at this point, if I need a car loan or a house loan, I think they would be better to deal with since I have been with them for so long than a new account with a new bank that I am barely opening an account with.
In My Wallet
American Express True Earnings (($2,000)) Aug '12
Chase Freedom Visa (($3,000)) Dec '12
Discover More (($3,000)) Dec '12
PenFed Platinum Cash Rewards (($7,000)) Dec '12
Amex Blue Cash Everyday (($3,500)) Dec '12
U.S. Bank Cash Plus (($10,500)) Dec '12


namvet
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Postby namvet » Wed Dec 12, 2012 11:57 am

IMO keep the WF account. Chase is a great bank and nothing wrong with multiple checking accounts. I have 4 checking accounts and none of them charge me to use them. I don't have Chase checking but i have several of their credit cards.

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djrez4
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Postby djrez4 » Wed Dec 12, 2012 12:40 pm

The 10% bonus on cash back was shut down last month. No need to open a Chase account.
[RIGHT][size=100]- Sapphire Preferred - Freedom - Ink - Platinum - Everyday Preferred -[/size]
[/RIGHT]


Gamma
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Postby Gamma » Wed Dec 12, 2012 4:23 pm

djrez4 wrote:The 10% bonus on cash back was shut down last month. No need to open a Chase account.


They did close the 10+10 exclusive program, but it got changed to 10% extra points per transaction.

Vermonster
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Postby Vermonster » Wed Dec 12, 2012 8:55 pm

Gamma wrote:They did close the 10+10 exclusive program, but it got changed to 10% extra points per transaction.


That is half of the original 10+10, unfortunately the ****ty half.
Case Freedom $5k
Chase Sapphire Preferred $5k
Amex Blue Cash Preferred $6k
Citi Double Cash $2.4k

kcarter609
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Postby kcarter609 » Wed Dec 12, 2012 10:52 pm

Vermonster wrote:That is half of the original 10+10, unfortunately the ****ty half.


What about for people already enrolled?

Active Cards:
Chase Freedom 10+10 Visa Signature ($9k Limit - 8/2012)
Chase Sapphire Preferred ($10k Limit - 2/2013)
Chase Ink Plus ($7k Limit - 2/2013)
Discover IT ($9.5k Limit - 10/2012)
AMEX Zync (No Pre-set Limit - 1/2010)
AMEX Blue Cash Everyday ($20k Limit - 1/2013 - Backdate to 1/2010)

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djrez4
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Postby djrez4 » Wed Dec 12, 2012 11:01 pm

kcarter609 wrote:What about for people already enrolled?


Grandfathered,
[RIGHT][size=100]- Sapphire Preferred - Freedom - Ink - Platinum - Everyday Preferred -[/size]

[/RIGHT]


icewater
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Postby icewater » Thu Dec 13, 2012 4:10 pm

Well, I just went in and opened a Chase checking account. I decided I will keep my Wells account as well. For those interested, Gamma is correct, the 10 & 10 deal is no more. But you can still get $200 for opening an account (with coupon code) and a 10% bonus on all cashback at the end of the year. You do need a $500 direct deposit or keep $1500 in account to avoid a $12/month fee.
In My Wallet
American Express True Earnings (($2,000)) Aug '12
Chase Freedom Visa (($3,000)) Dec '12
Discover More (($3,000)) Dec '12
PenFed Platinum Cash Rewards (($7,000)) Dec '12
Amex Blue Cash Everyday (($3,500)) Dec '12
U.S. Bank Cash Plus (($10,500)) Dec '12

Gamma
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Postby Gamma » Fri Dec 14, 2012 12:56 pm

kcarter609 wrote:What about for people already enrolled?

djrez is right about bring grandfathered in, but only for a year then they will be changed to the 10% only.



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