Attractive promotions on new checking accounts
A “tarnished” checking account doesn’t have to show up on your credit report in order to deny or limit a loan application. If you currently have multiple checking accounts, or are planning to open additional accounts, be sure to review them each month.
Looking to open a new checking Current Checking Account account? You are not alone as many of us have faced this circumstance before. The reality is that there are a number of factors to consider as you review your options. You are definitely taking a step in the right direction by equipping yourself with the right information to act upon. Here are some important factors to consider when opening a new account with or without their current bank. By keeping these factors in mind, you can make a good choice for yourself.
1. Attractive promotions on new checking accounts.
Perhaps one of the most popular reasons why you would open a new bank account would be to take advantage of some of the great checking promotions that are taking place with other banks. Some of the different types of promotions that might be offered include high interest rate checking accounts, instant cash rewards, no fee ATM usage, cash back rewards, and cash for features programs. All of these promotions pay you money or help you save money one way or another. If your current account doesn’t offer you any of these perks, then you would probably be interested in switching in order to take advantage of them
2. Expensive fees with current accounts.
Many bank accounts come with hidden fees and charges that you simply cannot justify paying for. For example, you might discover that your account has expensive fees for what the bank calls excessive ATM usage. Excessive, according to the bank’s definition, might only be a few instances. For many, only using the ATM a few times a month might be pretty unrealistic so they most likely be forced to pay the fees that are charged by their bank for over using the free ATM privileges. Other fees that might push customers away include minimum balance fees, maintenance fees, overdraft fees, debit card fees, and more. If you have the chance to avoid these fees when you open new credit card account or bank account, then you are more than likely going to make the switch.