Current Events > my gf's bank: "thanks for letting us use your money. but it wasn't enough

(+) Yeah! (+)

so we're charging you 12 dollars. get richer next time. asshole."

my credit union: "thanks for letting us use your money. here's 3 bucks in interest per month. and dont worry about those atm fees, we got that. and hey, what the fuck. you're preapproved for a carloan at 2.79%. go get em!"

why do people bother with these big banks?
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MixedRaceBaby is also an advocate of credit unions .... hmmmmmm
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Just got a UFCU account.
Moving all my shit from Chase.

Except for that Amazon card.

5% back on all Amazon purchases is too good to pass up.
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*GASP*

Banks have rules and fees to adhere to! If you don't have $300 in the Savings account you opened, they charge $5 a month! *GASP* maybe don't open a savings account if you only have $100!
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Turbam posted...

Just got a UFCU account.
Moving all my shit from Chase.

Except for that Amazon card.

5% back on all Amazon purchases is too good to pass up.

just remember to redeem it as statement credit.

if you use it to purchase things, you dont get points for the full amount, only the amount after they apply the points.
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Gravityfare posted...

*GASP*

Banks have rules and fees to adhere to! If you don't have $300 in the Savings account you opened, they charge $5 a month! *GASP* maybe don't open a savings account if you only have $100!

lol this guy works for Wells Fargo
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Gravityfare posted...

*GASP*

Banks have rules and fees to adhere to! If you don't have $300 in the Savings account you opened, they charge $5 a month! *GASP* maybe don't open a savings account if you only have $100!

in your rush to be a jack ass, did you bother to read the OP? it comes down to the question he asked "why do people bother with these big banks?"

He's not asking why banks offer bad service, rather why, with so many credit unions that offer superior service to their customers, do people still use big banks that do the shit you identified?
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I use Bank of America and there's plenty of reasons.

1) The $3 a month "interest" the OP says he gets from his credit union; I have 5% cash back deals on Gas year round. Generally over $20 a month.
2) They have a Facebook app that responds to concerns in real-time and they have dedicated people to look at fees or unauthorized charges and help give refunds.
3) Credit Unions have done nothing but give me the run around on services in the past.
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Gravityfare posted...

1) The $3 a month "interest" the OP says he gets from his credit union; I have 5% cash back deals on Gas year round. Generally over $20 a month.

LOL USING CASH

anyway im talking about the 1.05% interest i get with my bank. as i get more money, i get more money.

have fun spending more money on gas to get more cash back LOL

Gravityfare posted...

2) They have a Facebook app that responds to concerns in real-time and they have dedicated people to look at fees or unauthorized charges and help give refunds.

cuz Credit Unions dont???? also lol using cash.

Gravityfare posted...

3) Credit Unions have done nothing but give me the run around on services in the past.

lol thats your problem.
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Uh okay. Not sure what "lol cash" means but...yeah
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Gravityfare posted...

Uh okay. Not sure what "lol cash" means but...yeah

case in point right here.
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_BlueMonk posted...

Turbam posted...

Just got a UFCU account.
Moving all my shit from Chase.

Except for that Amazon card.

5% back on all Amazon purchases is too good to pass up.

just remember to redeem it as statement credit.

if you use it to purchase things, you dont get points for the full amount, only the amount after they apply the points.

I am looking into getting an Amazon card now.
So I was reading the details and saw this

How you can use your points: You can use your points to redeem for eligible purchases at Amazon.com. You can also use your points to redeem for cash, starting at 2,000 points, through an account statement credit or electronic deposit into an eligible checking or savings account held by a financial institution located in the United States. Other redemption options include travel, gift cards, and products or services made available through the program or directly from third party merchants.

In your post you mean you should wait for 2,000 points to accumulate before spending it?
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Gravityfare posted...

I use Bank of America and there's plenty of reasons.

1) The $3 a month "interest" the OP says he gets from his credit union; I have 5% cash back deals on Gas year round. Generally over $20 a month.
2) They have a Facebook app that responds to concerns in real-time and they have dedicated people to look at fees or unauthorized charges and help give refunds.
3) Credit Unions have done nothing but give me the run around on services in the past.

I have bank of America ax well. How are you getting 5% back on gas year round
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Returning_CEmen posted...

In your post you mean you should wait for 2,000 points to accumulate before spending it?

yeah. i mean its the most effective way to use it. cuz or else itll go like this

say you have 1000 points, meaning you get 10 bucks off.

you buy a thing for 25 bucks. you apply points, now its 15 bucks. you get 5% on the 15 and get 75 points (75 cents)

meaning you just lost out on 50 points.

however, if you just pay full and once you get 2000 points and redeem for 20 bucks, youll get all your potential points and still get 5% in cash back.

but again, its just the most effective way.
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I use Altra. No fees. I work too hard to get my money taken by banks "too big to fail."
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fenderbender321 posted...

There's pros and cons to both banks and credit unions for both consumer and business purposes. To each their own. I've always banked with big banks, and I like how there's branches everywhere I go in the country, 24/7 phone support, etc...the fees can suck, but generally that's a problem that poor people have. When you consistently have $5,000+ in the bank, it's never a problem.

Yeah I've banked with BOA for a very long time but I don't get charged any fees on any of my accounts.
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_BlueMonk posted...

Returning_CEmen posted...

In your post you mean you should wait for 2,000 points to accumulate before spending it?

yeah. i mean its the most effective way to use it. cuz or else itll go like this

say you have 1000 points, meaning you get 10 bucks off.

you buy a thing for 25 bucks. you apply points, now its 15 bucks. you get 5% on the 15 and get 75 points (75 cents)

meaning you just lost out on 50 points.

however, if you just pay full and once you get 2000 points and redeem for 20 bucks, youll get all your potential points and still get 5% in cash back.

but again, its just the most effective way.

Interesting. Good to know =)
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I use Bank of America because I get a 50% bonus on cash back, free bank services (money orders, etc), and 30 free trades every month on my investment accounts
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and there are even better ways to get cash back from amazon

like get an American Express Blue Cash Preferred. 95 (i think?) a year but you get 6% back at grocery stores.

then buy amazon gift cards at grocery stores.

of even the chase Freedom. right now they have 5% back on groceries. get amazon gift cards, then transfer the Ultimate Reward points you get to a better card like the Chase Sapphire Preferred (1.25x more redemption) or Reserve (1.5x more redemption) to get an effective 6.25-6.5% back, (after you account for the annual fee, which is waived in some cases)
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_BlueMonk posted...

and there are even better ways to get cash back from amazon

like get an American Express Blue Cash Preferred. 95 (i think?) a year but you get 6% back at grocery stores.

then buy amazon gift cards at grocery stores.

that's too much effort

I'm lazy, not poor
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Bank: Your account has been drained by a fraudulent transaction? That's terrible, we'll investigate right away. If we can't get it back within a day or two, we'll give you a temporary credit while we investigate.

Credit union:

https://www.youtube.com/watch?v=rja7tCtxSN4
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Frostshock posted...

Bank: Your account has been drained by a fraudulent transaction? That's terrible, we'll investigate right away. If we can't get it back within a day or two, we'll give you a temporary credit while we investigate.

Credit union:

https://www.youtube.com/watch?v=rja7tCtxSN4

again

you're assuming credit unions dont do this, nor are insured. they are

AND ALSO LOL CASH
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_BlueMonk posted...

you're assuming credit unions dont do this, nor are insured. they are

AND ALSO LOL CASH

Credit unions give far fewer shits about regulations to handle complaints.

And why are you rambling about cash?
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Frostshock posted...

Credit unions give far fewer shits about regulations to handle complaints.

then dont sign up with those CUs.

Frostshock posted...

And why are you rambling about cash?

because you all are so funny. still using cash.
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_BlueMonk posted...

because you all are so funny. still using cash

Do you propose paying bills with stock options?
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Frostshock posted...

Bank: Your account has been drained by a fraudulent transaction? That's terrible, we'll investigate right away. If we can't get it back within a day or two, we'll give you a temporary credit while we investigate.

Credit union:

https://www.youtube.com/watch?v=rja7tCtxSN4

This guy gets it.
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And yeah his only rebuttal to my saying that Banks are more professional and have much better deals than a measly $3 a month interest was saying "LOL cash"

Which I...don't even know what that means.
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Didn't you poison her dog at one point?
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chill02 posted...

I use Bank of America because I get a 50% bonus on cash back, free bank services (money orders, etc), and 30 free trades every month on my investment accounts

Well if you're a Preferred Rewards account owner, which I believe is $10,000+ in your Checking account per daily cycle, they do +75% Cash Back bonus on your Rewards; they do free ATM's for all banks nationwide (up to 6 times a month); they do no fees as well. They give you a 0.25% or higher discount on your Auto Loan if you decide to finance a vehicle; they give you free Merril Lynch trading with no commission fees.

I have eTrade due to my work - and it's $6.95 a Trade. Having free trades is pretty badass.




But wait the Credit Union gives him $3 a month and also LOL cash!
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_BlueMonk posted...

Gravityfare posted...

Uh okay. Not sure what "lol cash" means but...yeah

case in point right here.

lol he said he got cash back for using his visa.....not that he uses cash....you sure are quick to lambast people over financial affairs but seem to not know jackshit yourself

let me guess, you were the TC that bragged about buying 2 shares on robinhood
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Roxborough4Ever posted...

let me guess, you were the TC that bragged about buying 2 shares on robinhood

i made 2 dollars today on the market.

i just bought a yacht
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I've never banked sonewhere that didnt offer free checking
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Gravityfare posted...

And yeah his only rebuttal to my saying that Banks are more professional and have much better deals than a measly $3 a month interest was saying "LOL cash"

I guess it just depends on the credit union

Mine is professional and offers most of the services people are saying big banks offer here.

The main thing mine lacks is much on the investment side beyond personal retirement accounts and CDs
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Gravityfare posted...

chill02 posted...

I use Bank of America because I get a 50% bonus on cash back, free bank services (money orders, etc), and 30 free trades every month on my investment accounts

Well if you're a Preferred Rewards account owner, which I believe is $10,000+ in your Checking account per daily cycle, they do +75% Cash Back bonus on your Rewards; they do free ATM's for all banks nationwide (up to 6 times a month); they do no fees as well. They give you a 0.25% or higher discount on your Auto Loan if you decide to finance a vehicle; they give you free Merril Lynch trading with no commission fees.

I have eTrade due to my work - and it's $6.95 a Trade. Having free trades is pretty badass.




But wait the Credit Union gives him $3 a month and also LOL cash!

Yeah, I'm on the second tier >.>
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do people hating on cash not travel anywhere? some places don't take cards, like this awesome poutine place i stopped at last week
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Frostshock posted...

Bank: Your account has been drained by a fraudulent transaction? That's terrible, we'll investigate right away. If we can't get it back within a day or two, we'll give you a temporary credit while we investigate.

Credit union:

https://www.youtube.com/watch?v=rja7tCtxSN4

Some idiots at my credit union have had their checking accounts compromised multiple times and they always get their money back.
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My credit union is actually too trigger happy on fraudulent charges. I get a lock, call, and credit almost immediately after buying something online from various foreign companies.
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I can't think of a single reason to bank with a bank instead of a credit union. Unless I guess you literally can't qualify for a single CU.
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Krojen posted...

My credit union is actually too trigger happy on fraudulent charges. I get a lock, call, and credit almost immediately after buying something online from various foreign companies.

Yeah, my credit union rescinded my card and issued me a new one after they determined that my card info had likely leaked when Noodles & Company got hacked. However, they neglected to inform me until I called to ask why it wasn't working lol

Big banks tend to have more locations than credit unions. They need something to pay for the costs of keeping those locations open.
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DragonGirlYuki posted...

Big banks tend to have more locations than credit unions. They need something to pay for the costs of keeping those locations open.

about this, I thought having a credit union would be terrible when I was traveling but actually they have partnerships with other credit unions that lets you use their ATMs (and deposit checks etc) without any kind of fee, so it wasn't an issue.

Just throwing that out there since some people have noted that being able to access your bank is a good reason to prefer big banks
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that could vary by credit union too ofc, I just know about mine
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on the plus side, I can walk into any corner 7-11 and use their ATM to withdraw cash without fees, so I very rarely have to go to one of my physical credit union locations

as for depositing checks, I can use their app to just take a picture of it

An ATM is not necessarily the same as a teller. Even if you have good access to ATMs with no fees you still have less access to a teller for cases where you want to talk to a person.
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treewojima posted...

as for depositing checks, I can use their app to just take a picture of it

yeah that too lol
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really, the only thing I can see needing a teller for is a cashier's check or resolving account issues in person (which can often be taken care of over the phone)

fenderbender321 posted...

If a business doesn't accept cards, it's an automatic deal-breaker for me ever doing business with them.

That's a really bad exclusion to have, even in 2017.
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