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#12946

Steven O. (Visitor)

credit one bank Two credit cards through one bank?

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#12947

John R Weiss (Visitor)

credit one bank Two credit cards through one bank?
Is there is any kind of potential problem or risk if I have only two credit cards, and both of them are issued through the same underlying bank? None beyond the bank's terms & conditions. MBNA, for example, is more onerous than your local credit union...

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#12948

Stan Brown (Visitor)

credit one bank Two credit cards through one bank?

Is there is any kind of potential problem or risk if I have only two credit cards, and both of them are issued through the same underlying bank? I can't see why. I have a Visa and a MasterCard from Universal Bank (which is part of Citigroup). The only risk I see is that if Universal suddenly decides I'm a bad risk I'll lose both credit cards at once. I've managed to sleep nights despite that.

There's much greater risk in having a credit card with a bank where you have substantial deposits. Most banks give themselves the right in their account rules to seize your deposit to pay an amount you owe. So if they screw up your credit-card account, they could grab your savings.

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#12949

Stan Brown (Visitor)

credit one bank Two credit cards through one bank?

Only one potential problem for deadbeats. If you carried balance on both cards and became delinquent on one of them, the bank will promptly raise interest rate on the other card as well. These days that's quite likely true even if you are delinquent on a card at ANOTHER bank. Of course, the right way to use a credit card is to pay off the whole balance every month. My interest rate might be 85%; I don't know or care.

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#12950

Martin O'Brien (Visitor)

credit one bank Two credit cards through one bank?

Is there is any kind of potential problem or risk if I have only two credit cards, and both of them are issued through the same underlying bank? (In other words, one might be from my favorite airline, to get frequent flyer miles, and the other from my favorite bookstores, but both of them are really controlled by XYZ National bank.) I have no idea what kinds of issues I'm even looking for, so I don't know how to _frame_ this as anything other than a general question, but I'd appreciate leads for any possible areas of concern. Only one potential problem for deadbeats. If you carried balance on both cards and became delinquent on one of them, the bank will promptly raise interest rate on the other card as well. CC companies can raise rates if they find you're delinquent on ANY of your accounts who may have ANYWHERE, so I see no potential problem here. For God's sake, do I really need to state the obvious??? THE OTHER BANKS WOULD NOT KNOW ABOUT THE DELINQUENCY unless you give them a reason to spend money on a credit report on you. They DON'T routinely do that for existing customers. Amex did exactly that to me 2 months ago. Out of nowhere, I got notice that I was going from 12.9% Fixed to Prime+13.99%. They told me it was due to late payments on my credit, even though the last late payment on my report is almost a year old. So I transferred the balance to another card... -Martin O'B

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#12951

Antipodean Bucket Farmer (Visitor)

credit one bank Two credit cards through one bank?

Only one potential problem for deadbeats. If you carried balance on both cards and became delinquent on one of them, the bank will promptly raise interest rate on the other card as well. CC companies can raise rates if they find you're delinquent on ANY of your accounts who may have ANYWHERE, so I see no potential problem here. They can also raise your interest rate simply because they see large debt balances on other credit cards. They are concerned with the consumer's/cardholder's overall ratios of debt-to-total-available-credit, and debt-to-income.

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