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Question - apply for new account in branch or online


greendude
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Hi, 

 

I'm applying for business credit cards and LOC with a bank that I never had any products/relationship before. Does going into branch and opening a checking/savings and then applying for the cards+LOC make any difference over just applying for them online ? I won't have any issues getting approved but will applying with a person in the branch make a difference to the credit limits ? 

 

Thanks.

 

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I would say yes.   I have personal experience in one case to back that up.  I got a credit card that the system approved me for $3,000.00 while I was sitting there opening my account.  I politely declined.  The analyst, after seeing my paycheck stub, picked up the phone, made a call, and offered me a $30,000.00 credit card which I accepted.  This is one case and my personal experience only.  YMMV.

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I have to second that.  Years ago when I tried to get a credit card with a particular bank, all their defenses were up when I went online.  When I walked into a branch, they bent over backwards to help me.  It ended up being my best rebuilding card and prybar.

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1 hour ago, shifter said:

Entirety depends on the bank. If it's a nameless, faceless big bank, the bankers can rarely do anything anyway. They have to call the same analysts that you do. 

 

I wouldn't make that generalization.  My case happened to be with Wells Fargo (before the scandal).

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3 hours ago, shifter said:

Experiences decades in the past often hold little relevance. 

 

Perhaps.  But I still give credence to the idea that a neighborhood branch involvement in an app could help sway things your way, where there's room for leeway.  (I'll stress that harder if you've managed to instill a minute of two of personal chit chat into each branch visit over the course of a few years.)

 

The big banks that have made a specific push toward neighborhood branching (Chase, BA, PNC among others that come to mind) have a serious commitment toward local relationships.  When the "spit hits the fan", that probably dissolves into a meaningless pile of goo.  But where there is room for "relationship" input, my impression is that the branch personnel do have some influence and, to varying degrees, that influence can be significant.

 

With respect to personal or business card apps, I'm inclined to think that score cutoffs are hard and likely non-negotiable.  A decline over some other metric (possibly something like number of recent new accounts) might have some wiggle room to it upon closer review (say, when you've just barely exceeded the threshold).

 

Credit limit assignment is a very soft science and I would expect that a decent established personal branch relationship could add helpful "push back", if needed.

 

 

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Ok, I set up an appt, talked to a manager couple of times and exchanged emails with her. Will open a personal chk/sav, business chk/sav for 2 businesses and then ask for what I'm really after - 2 cards with fat limits :)

The bank is Truist. 

 

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Hahahahaha!!!!! I agree with Shifter about you probably won't get a huge line of credit. All I've seen from people's approved lines of credit is up to $4 to $5,000 per card, with the occasional one lucky enough to get $6,000, so it's not a generous bank, and it's a geofencing issuer.

 

However, if some people apply for 4-5 cards at a time, then you might get $16,000 to $20,000, and I doubt they'll let you do that now!

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