I don't get credit mailings in the mail anymore. Those stopped maybe like 5+ yrs ago and I'm not sure why.
I do not bank with BofA or Chase. Am I at a downfall not having them for a personal checking acct?
Wow I didn't realize all the options out there, and I guess I am sort of at a loss right now
I do not receive many pre-approvals anymore either but that is probably because I have most of the major credit cards and even multiples from the same banks....every once in a while US Bank will send me an offer and this weird Missouri bank, Commerce Bank was sending me one every week for two months....
No, you do not need to have a checking/savings relationship with BofA, Chase or Citibank (or Wells Fargo, US Bank, PNC etc) to be approved for their credit cards. You just have to have a pulse, a job and a decent credit score. I only mentioned the checking from BofA and Chase because of the bonus cash back they offer if you have one along with your credit card.
There are a ton of cash back cards to chose from right now which is why you need to do your research on which is best for your needs. Overall, Chase Freedom is regarded as the best overall cash back card and I do like their catagories; however, I am very happy with the BankAmericard Cash Reward card because they give the best cash back on things I buy most (boring everyday things like gas and groceries). I primarily use my Dividend now but that will change as I get my BankAmericard in the mail. I usually only use my Freedom and Discover Card for the 5% cash back on gas and groceries when they are offered.
I will say this though: reward cards generally have higher APR's so you want to be sure to pay them in full each month. Which leads me to ask, is your balance on the GM Card a balance transfer with a low rate or is that just a regular balance? If it is a regular balance perhaps you should look into a regular credit card with a 0% intro rate on balance transfers so you can pay that balance off.
Overall, I suggest that you wait until you get your utl ratio down to 30% before applying for anything for better chances of approval.