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Three carefully selected credit cards, two of which I actually use on a regular basis, and are all paid monthly.
That hurts your credit score. You need to carry a balance equivalent to 10% to 20% of the credit limit for that card.
If the credit limit is not reported (like a Crapital One card) then you can get away without carrying a balance.
The older the account is, the less you need to carry, so if you're accounts are more than 10 years old, you can carry a balance of around 10%-12% and not negatively affect your credit score. For new and newer cards, you need to carry closer to 20%.
Before my divorce we had a chequing acct, mortgage and line of credit with ING. I'm in Canada, they were easy to deal with but a little chaotic in their head office. When we applied for the mortgage we did it on line, after approval we had to send various hard copies of documents to verify stuff. They managed to receive it and then LOSE it all. Not the kind of personal stuff you want "Lost". All of their rates were much better than the usual full service banks here.
Because it's a hassle to wait for it to be transfered from another bank or mailing your checks in. Maybe you're a lot more patient than I am though. I wouldn't use online banks if it wasn't for direct deposit.
Because it's a hassle to wait for it to be transfered from another bank or mailing your checks in. Maybe you're a lot more patient than I am though. I wouldn't use online banks if it wasn't for direct deposit.
I have an ING checking account and ING savings account.
What I like about them... first off I got a "signing bonus" something like $50 when I opened a checking account, similar when I opened a savings account.
Once created, you can open multiple savings accounts fairly easily. I set aside money monthly in seperate accounts for house repairs, vacation, Christmas, even set up a "new car" account. I finished paying off my car note and now sock that money in a "car fund" since I'm used to paying $300/mo anyways.
Now it does take days to transfer to/from my regular bank account... but that's okay. I can transfer money immediatly to the ING checking account and use the ING debit card immediately.
For example, house repairs... pay the plummer with the debit card, and transfer the money into my checking account from my "home improvement" savings.
Or go on vacation. I have a Capital One and Chase checking account at home, but when I went in vacay to GA/FL/SC not a Chase or Capital One to be found. Never fear, I can get money at virtually ANY atm FREE OF CHARGE with the ING debit card.
So it's worked for me. I miss the 5% savings rate, but basically no one is offering higher than my current 1.1%. And I need to cultivate a savings account anyway... may as well do it with ING.
What amount do you open up with and does anyone on here have an account? I just want to get some information first before opening up an account. Thanks
I'be had my money with them for years and have no issues at all with them except for the miserable rates that they and everyone else pay. But they do about 1% more than my brick and mortar bank. I still maintain my wells fargo account in case that I need money right away. There is at least a 2 day wait to receive your withdrawal request from ING.
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