Should I get a credit card with my bank or another bank? | finder.com
Young redhead with a credit card and a laptop

Should I get a credit card with my bank or another bank?

We value our editorial independence, basing our comparison results, content and reviews on objective analysis without bias. But we may receive compensation when you click links on our site. Learn more about how we make money from our partners.

Consider credit cards from multiple providers before deciding.

You’ve decided it’s time for a new credit card. Should you apply for one with your current bank, or seek greener pastures with another provider? While it can be convenient to open a card with your current bank, you could find a more attractive card with another lender.

Getting a credit card with your bank vs. another bank

If you’re having trouble deciding between staying with your bank or switching, consider these factors.

Benefits of getting a credit card with your current bank

  • Familiarity.

    If you’ve banked with an institution for a while, there are some benefits to staying loyal. You may be very familiar with the services and policies of your current bank. You may also know what to expect from the customer service team and have visited a few of the bank’s branches.

  • Simple application process.

    When you apply for a credit card, the provider assesses you based on a number of factors, such as your income and credit history.

    Your current bank can access your account activity, such as a checking or savings account history. This helps it assess your risk profile based on your savings and spending. If you’ve used your account responsibly, this could increase your approval odds for a credit card.

    Another perk: Since your bank already has your basic information, you might not need to spend time filling out a credit card application from scratch. Your bank may auto-fill most or all form fields.

Benefits of getting a credit card with a new bank

  • Get a better deal.

    While sticking with the same bank might offer convenience, you could miss out on more competitive deals from other providers. By branching out to other banks, you can find products with attractive 0% intro APR periods, signup bonuses, rewards and travel benefits.

  • Balance transfers.

    If you already have a credit card with your current bank, opening another card with the same institution most likely won’t give you access to balance transfers.

    If you open a card with another provider, you can move your balances to that card.

Our pick for balance transfers

Blue Cash Everyday® Card from American Express

  • Earn a $150 statement credit after you spend $1,000 in purchases on your new card within the first 3 months.
  • 3% cash back at U.S. supermarkets (on up to $6,000 per year in purchases, then 1%).
  • 2% cash back at U.S. gas stations and at select U.S. department stores, 1% back on other purchases.
  • Low intro APR: 0% for 15 months on purchases and balance transfers, then a variable rate, currently 15.24% to 26.24%.
  • You spoke, we listened. Over 1.6 million more places in the U.S. started accepting American Express® Cards in 2018.
  • Cash back is received in the form of Reward Dollars that can be easily redeemed for statement credits, gift cards, and merchandise.
  • No annual fee.
  • Terms apply.
Read less
Read more
See Rates & Fees
Promoted

Compare credit cards

Name Product Filter values Rewards Purchase APR Annual fee
7x points on Hilton Honors purchases, 5x at US restaurants, US supermarkets and US gas stations, 3x on all other purchases
17.99% to 26.99% variable
$0
Earn 90,000 Hilton Honors Bonus Points after you spend $2,000 in purchases on the card within your first 3 months of card membership. Rates & fees
3% cash back on all purchases in first year up to $20,000 spent, then 1.5% cash back on all purchases
0% intro for the first 15 months (then 17.24% to 25.99% variable)
$0
Earn 3% cash back on all purchases in your first year up to $20,000 spent. After that earn unlimited 1.5% cash back on all purchases.
1.5% cash back on all purchases
0% intro for the first 15 months (then 16.24%, 22.24% or 26.24% variable)
$0
Earn unlimited 1.5% cash back on every purchase, every day.
2% at US gas stations and select US department stores, 3% at US supermarkets on up to $6,000 per year, then 1% after that and on all other purchases
0% intro for the first 15 months (then 15.24% to 26.24% variable)
$0
Earn a $150 bonus statement credit after you spend $1,000 on purchases in the first 3 months. Rates & fees
1.25x miles on all purchases and 10x miles at hotels.com/venture
0% intro for the first 12 months (then 14.24%, 20.24% or 24.24% variable)
$0
Earn 20,000 bonus miles once you spend $1,000 on purchases within the first 3 months from account opening.

Compare up to 4 providers

Bottom line

When looking for a credit card, there are a few factors to consider before deciding if you’re going to stay with your current bank.

Even if you’re content with your current bank, compare cards from other providers before settling on your final choice. Doing can possibly land you with a credit card that better matches your spending style.

Frequently asked questions

Back to top
Was this content helpful to you? No  Yes

US Credit Card Offers

Important Information*

Ask an Expert

You are about to post a question on finder.com:

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Finder.com provides guides and information on a range of products and services. Because our content is not financial advice, we suggest talking with a professional before you make any decision.

By submitting your comment or question, you agree to our Privacy and Cookies Policy and Terms of Use.

Questions and responses on finder.com are not provided, paid for or otherwise endorsed by any bank or brand. These banks and brands are not responsible for ensuring that comments are answered or accurate.
Go to site