Back in the early 90s when I was not quite a teen and started cutting the neighbor's grass down the street, my parents had me open a bank account to deposit the $25 check I was given every week of the summer. Through the years and a few mergers, that's now at Truist. I've kept varying amounts of money there over the years, but haven't used it as a primary in over two decades. For most the last ten years, it's just sat with a little over a $1k in it. It's just a savings account. No checking, no debt, no debit or credit cards, so no affect on my credit score. It just sits there earning about a penny in interest every month.
I think I originally kept it around because it's an old account, and the theory was that old account gets some kind of preferential treatment, maybe with mortgage rates. I've had two mortgages in the last 15 years, and I did get a rate quote from them, but it was never as good as Regions, who I went with for both.
Now I'm with a credit union, closed out all the Regions stuff, who pissed me off for different reasons, but have kept this ancient now Truist account open. Is there any practical reason to? My credit union is very local, so maybe if I'm traveling and there's some need for a physical bank? I'm stretching here.
I think I originally kept it around because it's an old account, and the theory was that old account gets some kind of preferential treatment, maybe with mortgage rates. I've had two mortgages in the last 15 years, and I did get a rate quote from them, but it was never as good as Regions, who I went with for both.
Now I'm with a credit union, closed out all the Regions stuff, who pissed me off for different reasons, but have kept this ancient now Truist account open. Is there any practical reason to? My credit union is very local, so maybe if I'm traveling and there's some need for a physical bank? I'm stretching here.
Statistics: Posted by icrf — Tue Mar 26, 2024 10:03 am — Replies 4 — Views 268