I am in the process of moving my banking business to Chase and closing all accounts I have at BOA permanently.I've taken advantage of an email I received from my Chase Freedom account to open a checking account and I will receive $150.00 deposited into my new checking account.The money is on standby until my direct deposit starts which will start in a week or two.

I've had great experiences with BOA I admit but as I've read posts over the last year from long time customers(and from my recent experience) of the company, the relationship has becomes a numbers game, it doesn't matter how excellent you've kept your accounts with them.The move from this bank was really a tough decision but one that had to be made.

I read from a news report ( http://www.business-standard.com/india/news/credit-card-issuers-back-in-business/386706/ ) that Standard Chartered Bank is one of a number of credit card issuers who are offering free-for-life Platinum credit cards. One of their many ways to entice customers. Is this great or is there a catch to it?

Free-for-life??? I'll check into that julienne. Thanks for sharing the news.

BY BRETT PHILBIN

Source Wall Street Journal, March 10, 2010

NEW YORK -- Citigroup Inc. plans to roughly double the size of its private banker force in North America over the next several years.
In an interview with Dow Jones Newswires, Citi Private Bank's North America Chief Executive Peter Charrington said he would like the unit, which boasts 130 bankers, to reach a total of about 260. Building up the private bank, which targets investors with a net worth of at least $25 million, is an important growth area for Citi after the bank formed a joint venture with its Smith Barney brokerage.

Citi had said recently they would be refocusing on the more elite in clients. Here is a follow up on that new approach. Question, where will that leave the rest of us? HSBC Local Bank (Global) already has a "Premier" Group that looks to $100,000 to $500,000 in assets as the minimum to join their exclusive private banking group with "off shore" account relationships.

I read from a news report ( http://www.business-standard.com/india/news/credit-card-issuers-back-in-business/386706/ ) that Standard Chartered Bank is one of a number of credit card issuers who are offering free-for-life Platinum credit cards. One of their many ways to entice customers. Is this great or is there a catch to it?

whew! great explanation Wanderer You just made me realize that I should be a more responsible and vigilant credit card user so as to avoid the hassles when applying for or maintaining a good credit standing.

If you're choosing a new bank consider picking a bank with "Direct Connect" from Intuit. You can search through their supported banks here:

http://web.intuit.com/personal/quicken/search.cfm?type=basic&qwid=qw1700&qmid=qm1600&qbid=qb1800&qbmid=qbm1700


This allows you to use Intuit financial software hassle free. Basically with Direct Connect you can download transactions into the software automatically, rather like the old days of downloading/uploading manually. Inuit owns Mint.com, and all Quicken products. Mint.com is 100% free and very useful.

belle - the previously mentioned post by ColoNative represents findings from various postings on this site, terms & conditions of various cards, along with ColoNative's research. NOT to be confusing, but some banks offer prime and sub-prime card products, some banks offer secured cards, while some banks are NOT sub-prime issuers and will NOT issue cards to people with BK's on their credit file with Chase being and example as they stay away from sub-prime (just click on one of their app's and it tells you that you need to be able to check these boxes for a chance at a successful app and is your background clear of a BK stated right in the beginning), Wells Fargo Bank even offers website information on good credit and credit that needs improvement to help you screen what products to apply for (note Wells Fargo Bank NA has a sub-prime arm called Wells Fargo Financial Bank that does issue sub-prime), First National Bank of Omaha (pre-screens like Chase and does NOT do app's with past BK's). To make life even more interesting even if your Ch 7 or 13 BK has dropped off after the ten or seven year time limit to report banks have their own internal records that do NOT get purged and ColoNative gave us a head's up that you still may get a turn down even after your CR's are clean. For myself Bank of America did a research and found I had included them in a BK and refused to increase my credit line (I know they black list). Another really important fact, whether the bank or non-bank credit card is prime or sub-prime does NOT matter when you use it as long as it has a MasterCard or Visa Logo. In the market place cards are pretty equal. As to Discover (less places take it) and American Express (less places take them) both do NOT deal with sub-prime. They have very high underwriting standards and "GOOD" credit would be their lowest possible offering point. FG has card assist options included that can sort on FICO Scores, Issuer Names and Visa, Mastercard, Discover or American Express... and so on. You can read the card requirements and possible comments from members of the site (VERY helpful). Not every card issuer will place any or all of their card offerings on sites other than their own. You may want to search each card issuer's site too. One thing about the world of bank credit cards is they change the rules of the game so the consumer never really knows how to play the game. Good marketing strategy. However, the rules of the game on prime and sub-prime have remained unchanged over time. One other item that bothers me, as we see more and more bank mergers and failures we end up with less card issuers thus less potential competion and possibly less card issuing opportunities for the consumer and businesses!

thanks hjm331 and Wanderer! i'll try to read about these topics. I'm getting curious as to what makes a bank give those credit limits and interest reates. I'll also share my thoughts about them when i'm done with some research of my own.

...hang in there! The board will get back to you with that info...!

Belle, you will learn through reading and experience. A subprime card comes with a low credit limit and high interest rate. A prime card carries a high credit limit with a low interest rate.

However, a few banks such as Capital One and HSBC offer both prime and subprime cards so you can't really label them as a prime or subprime lender.

Generally speaking usually subprime banks are worse then the prime banks.

Sub prime

i think i'm lost here. How do I know a bank is subprime or prime?

So far, I've no problems with hsbc.

That is why I am staying!

All - remember "...the person who has the gold rules...". The big boy banks have the gold and unless Congress forces them to change they will do whatever they please. We don't have to like it... but!

meya - until the last ten+ years Minnesota did not have any real big boy banks. With all the happen's we now have Wells Fargo Bank NA and US Banks. For me going to a big boy bank was so as I do business and travel in the US there would be more banking options. Why change banks if they work for you? I sure wouldn't!