Does having a long relationship with a bank give you better deals for loans & mortgages ?
I have an account since 3 years with Wells Fargo which is one of the strongest banks in North America . I am planning to close this account because i my funds r extremely low and my monthly paycheck goes into other bank accounts that give me good savings rates .
I want to close my Wells Fargo a/c .
1)But people have told me that if i keep my a/c for a long time , i can get better deals on loans and mortgages through Wells Fargo because i have been a loyal customer.
2) On the other hand , people have told me that getting loans and mortgages totally depends on my credit score, credit reports and my impression with the credit bureaus. It has nothing to do with the length of relationship with a bank .
Which is correct from the above ? (1) or (2) ?