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Moving to Dallas - which Bank

Moving to Dallas - which Bank

Old Mar 17th 2008, 2:30 pm
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Default Moving to Dallas - which Bank

Hi

I am moving to Dallas in 2 weeks, Could someone assist me with a bank account

I need a back account which will allow me to access money any time anywhere in the USA and have my wages out in (basic I think)

Also need a bank that will give me a credit card

I was told a Credit Union is more Favorable,

any recommendations for Banks Credit unions welcome

Thanks

PM
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Old Mar 17th 2008, 6:42 pm
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Default Re: Moving to Dallas - which Bank

Originally Posted by patemaan View Post
Hi

I am moving to Dallas in 2 weeks, Could someone assist me with a bank account

I need a back account which will allow me to access money any time anywhere in the USA and have my wages out in (basic I think)

Also need a bank that will give me a credit card

I was told a Credit Union is more Favorable,

any recommendations for Banks Credit unions welcome

Thanks

PM
They are all pretty much as bad as each other
credit card may take a while
as you have no credit build up yet ...

https://www.bankofamerica.com/index.jsp

are pretty big ..there are plenty of others
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Old Mar 17th 2008, 7:25 pm
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Default Re: Moving to Dallas - which Bank

I hate to have to say it and agree with Ray, but BoA might be your easiest bet, working with the devil though
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Old Mar 17th 2008, 7:54 pm
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Default Re: Moving to Dallas - which Bank

Originally Posted by patemaan View Post
Hi

I am moving to Dallas in 2 weeks, Could someone assist me with a bank account

I need a back account which will allow me to access money any time anywhere in the USA and have my wages out in (basic I think)

Also need a bank that will give me a credit card

I was told a Credit Union is more Favorable,

any recommendations for Banks Credit unions welcome

Thanks

PM
Re the credit card:

If you are lucky and your company has a relationship with a Credit Union you may be able to get a credit card by providing them a letter from your employer. I know someone who has done this. Although they may still only be willing to give you a secured card.

And in danger of sounding like a scratched record, you should have opened an Amex card in the UK, it may still be worth doing it if you can get it before you leave.
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Old Mar 17th 2008, 8:00 pm
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Default Re: Moving to Dallas - which Bank

As much as I hate to give them a plug here.... BOA secured credit card. I just plumped for a basic $500 limit. Six months later - and without my having to ask - they wrote to say they were 'unsecuring' my card and raising my limit to $2500. Shortly afterwards I was able to successfully apply for a Chase card too. The only other thing which may have contributed to building our fredit rating was the mortgage which we obtained a couple of weeks after arriving.
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Old Mar 17th 2008, 8:04 pm
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Default Re: Moving to Dallas - which Bank

A credit union is useful for lower loan rates, especially on cars, but you have to be a defined member of a group to join. (However, "group" can be rather loose; used to be based largely on employer, now can be which county you live in!) Your potential employer would know which you'd be eligible for if any.

Yes, having an Amex is the way to go, but if you're already in the process of moving, bit late now.
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Old Mar 17th 2008, 8:24 pm
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Default Re: Moving to Dallas - which Bank

Originally Posted by snowbunny View Post
Yes, having an Amex is the way to go, but if you're already in the process of moving, bit late now.
It may still be worth doing this if they can get it before they leave and are maintaining an address and bank in the UK - get it use it for 6 months and then transfer it over - even if they were only willing to tranfer it over with a $1000 limit you will probably be in a better state then you would have been otherwise.
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Old Mar 17th 2008, 8:40 pm
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Default Re: Moving to Dallas - which Bank

The company my husband was working for when we moved out had a relationship with Chase (was Bank One back then) and they allowed us to get a credit card. Suggest you talk to the company's HR dept. Building up a credit history is a pain in the a**se though. We now live in Forth Worth and have kept with Chase.
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Old Mar 17th 2008, 9:30 pm
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Default Re: Moving to Dallas - which Bank

Take your pick, they're all the same.... crap service, medieval methods and a tendency to stick you with any old fee when they feel like it. It doesn't matter which you choose as within 6 months you'll move to another one before finding that one is as bad or worse than the first. Good thing is there is a bank on every street corner. Me jaded? Nah, just on #3 in the past 5 years.

Steer clear of BOA, Chase, Wells Fargo, Wachovia, Wamu, US Bank, Capital One, Frost....

- Tim
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Old Mar 18th 2008, 10:16 am
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Default Re: Moving to Dallas - which Bank

Hi,

so how about HSBC folks, they are international seem to be ok in the uk

I did have an amex card but cancelled it years ago, i also have an MBNA card not sure if I can transfer it over.

By the way can I ask - if you put your money into an account with a bank and it goes bankrupt, is my money insured?

I looked at the Wachovia site, it looks ok, no fees and can apply for a CC.

I also read an article on this site (Articles section) that if you take a credit rating report from "equifax" that would help considerably, is this the case?

any other tips welcome

many thanks for your suggestions / recommendations so far...

PM
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Old Mar 18th 2008, 1:20 pm
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Default Re: Moving to Dallas - which Bank

Originally Posted by patemaan View Post
Hi,

so how about HSBC folks, they are international seem to be ok in the uk

I did have an amex card but cancelled it years ago, i also have an MBNA card not sure if I can transfer it over.

By the way can I ask - if you put your money into an account with a bank and it goes bankrupt, is my money insured?

I looked at the Wachovia site, it looks ok, no fees and can apply for a CC.

I also read an article on this site (Articles section) that if you take a credit rating report from "equifax" that would help considerably, is this the case?

any other tips welcome

many thanks for your suggestions / recommendations so far...

PM
Just because HSBC are international means nothing, banking in the US is just different and whoever you are with you are going to have to cope with that. People will slate any bank you can come up with, but its got to be whoever is the most convenient for you. You will find yourself dealing with cheques so make sure there is a branch that you can get to. Most of the big boys do, but make sure they have billpay on their website.

I think the banks are covered here, but only thing that because when the whole Northern Rock thing was going on somebody said it wouldn't happen in the US cause they are covered.

I don't see how taking a credit report from Equifax would help, I guess they mean to open an account that monitors your credit report - as you have no credit score you almost certainly won't be able to do this - you won't have a credit report until you try and open an account of some sort.

As has been said earlier you need to find out if your company has a relationship with a credit union - that is your best chance of a credit card. Also if you are still going to maintain a UK address and bank accounts, it may still be worth opening an Amex if you can.

If none of this works you will probably need to open a secured credit card.
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Old Mar 18th 2008, 1:31 pm
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Default Re: Moving to Dallas - which Bank

Originally Posted by patemaan View Post
Hi,

so how about HSBC folks, they are international seem to be ok in the uk

I did have an amex card but cancelled it years ago, i also have an MBNA card not sure if I can transfer it over.

By the way can I ask - if you put your money into an account with a bank and it goes bankrupt, is my money insured?

I looked at the Wachovia site, it looks ok, no fees and can apply for a CC.

I also read an article on this site (Articles section) that if you take a credit rating report from "equifax" that would help considerably, is this the case?

any other tips welcome

many thanks for your suggestions / recommendations so far...

PM
In my experience they do not give a rip about any foreign credit reports. You will also have a hard time getting a credit card, sure you can apply, but be prepared to be rejected (it's all automated) and for that rejection to hurt your future credit score (ask me how I know). Google FDIC to get a feel for what kind of protection you might get. Being realistic, all the banks are [email protected] and customer service is crap, just setting your expectations....

- Tim
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Old Mar 18th 2008, 4:16 pm
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Default Re: Moving to Dallas - which Bank

I don't think HSBC have much of a presence in Dallas yet, we tried to get set up with them before we left Dallas for Canada. We bank with HSBC now in Canada and they are fine, but I'd probably go for something like Chase in Dallas, because they are everywhere.

We used Chase and had no problems with them but they all have their issues, it seems like luck of the draw.
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Old Mar 25th 2008, 2:28 am
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Default Re: Moving to Dallas - which Bank

I used Chase as well, they had some sort of agreement with my company that meant a free banking account, but no c/card without a SS#, and no option to secure one against my current account balance.

But, they've been ok, and have ATMs in most, if not all, Walgreens, and there's plenty of those in DFW, mostly just across the road from the CVS! Apparently you can never have too many 24hr drive-thru pharmacies!

The Chase account rep also claimed that Chase have their own credit-scoring system as well as the one everyone uses, so in theory it will help me in the future with getting financial products from them. Probably just a sales pitch, but I think most of the major banks are as good/bad as each other.
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Old Mar 25th 2008, 10:45 pm
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Default Re: Moving to Dallas - which Bank

Originally Posted by TimFountain View Post
Steer clear of BOA, Chase, Wells Fargo, Wachovia, Wamu, US Bank, Capital One, Frost....
"Use a bank? I'd rather die!"
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