"I'm Okay With It..."
M&T Visa® Credit Card with WorldPoints® Rewards Review
Written by: kellbell on 2008-10-16
Overall Satisfaction
Customer Service
Rewards
Account Management
Delivery Time
kellbell's review: 
I have banked with M&T for over 3 years. I have three different accounts with them; a checking, a real estate, and a savings account. All of which have a significant amount of money in them at all times.
Last June I received the 60th offer for this very card and I decided to apply... DENIED.
After the denial, I spoke with my boss and she informed me that her credit line through M&T was cut drastically 8 months ago. They foresaw the mortgage crisis and credit crisis back in January 2008 and became unwilling to issue credit and loans to ANY sub-prime candidate. In fact, they went through the sub-prime crisis at the beginning of this year and revamped their banking almost immediately.
Only FICO's of 700 and proof of income will be considered at M&T forever and ever... Amen.
I have banked with M&T for over 3 years. I have three different accounts with them; a checking, a real estate, and a savings account. All of which have a significant amount of money in them at all times. Last June I received the 60th offer for this very card and I decided to apply... DENIED.
After the denial, I spoke with my boss and she informed me that her credit line through M&T was cut drastically 8 months ago. They foresaw the mortgage crisis and credit crisis back in January 2008 and became unwilling to issue credit and loans to ANY sub-prime candidate. In fact, they went through the sub-prime crisis at the beginning of this year and revamped their banking almost immediately.
Only FICO's of 700 and proof of income will be considered at M&T forever and ever... Amen.
3 Comments
Comment 1 by shark6
True 
on 2008-10-17
Sorry about that Kellbell. However, what your friend said sounds about right. I applied for a Visa with my credit union back in July and I was denied. They pulled Eq and Exp. I called for recon and explained that I had been a member for over 16yrs, had 2 direct deposits going in, cds etc and this is was how they were treating their long time customers.
They wouldn't budge. They said that because of our current environment, they were using stricter guidelines. I also noticed in the branch last week that they are putting holds on checks. I NEVER had holds on checks and I had to argue down the manager for her to release 1/2 of an out of state check. I also have a $1k overdraft that I don't use and the check was for less than this so I don't get it AND they had my cds so...
RIDICULOUs! I understand that they have to make some moves to shelter them but this is not how you treat long time customers.
on 2008-10-17 Sorry about that Kellbell. However, what your friend said sounds about right. I applied for a Visa with my credit union back in July and I was denied. They pulled Eq and Exp. I called for recon and explained that I had been a member for over 16yrs, had 2 direct deposits going in, cds etc and this is was how they were treating their long time customers.They wouldn't budge. They said that because of our current environment, they were using stricter guidelines. I also noticed in the branch last week that they are putting holds on checks. I NEVER had holds on checks and I had to argue down the manager for her to release 1/2 of an out of state check. I also have a $1k overdraft that I don't use and the check was for less than this so I don't get it AND they had my cds so...
RIDICULOUs! I understand that they have to make some moves to shelter them but this is not how you treat long time customers.
Comment 2 by kellbell
Confident on 2008-10-17
I was confident that they would approve me due to the amount of money that I keep, but nope! They do not treat any customers- long term or short term- with any sort of decency when it comes to credit lines.
Your credit union seems to be doing the same.
on 2008-10-17 I was confident that they would approve me due to the amount of money that I keep, but nope! They do not treat any customers- long term or short term- with any sort of decency when it comes to credit lines.Your credit union seems to be doing the same.
Comment 3 by cireone
Changing Environments on 2008-10-17
Its funny that if your had a good portion of money in a financial insitution and decided to take it out the bank they will give you the whole script on being loyal and not to leave but when you are trying to further your relationship with them they arent so loyal to you. If theres a good cushion there should be no reason to be too cautious.
on 2008-10-17 Its funny that if your had a good portion of money in a financial insitution and decided to take it out the bank they will give you the whole script on being loyal and not to leave but when you are trying to further your relationship with them they arent so loyal to you. If theres a good cushion there should be no reason to be too cautious.
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Disclaimer: This content is not provided by FIA Card Services. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author's alone, and have not been reviewed, approved or otherwise endorsed by FIA Card Services. Review content is powered by Finance Globe.
