Pre-selected for US Bank Cash Plus Visa Signature

[ForumPheen]

Today I received a letter in the mail that states, "As a valued US Bank cardmember, you've been selected for an exclusive opportunity to "supercharge" your wallet...you've been pre-selected to receive this powerful card and this limited time offer". It also gives a sign up bonus of $100 if I spend $500 in first 90 days.  At then end it says if I do not qualify, I will automatically be considered for the US Bank Cash Rewards.

I have a Flexperks Select Rewards card since May 2013.

What is the difference between pre-selected and pre-qualify? Want to make sure such HP is worth it.

Edit:  What is the difference between pre-select, pre-qualify, and pre-approved? See all 3 used interchangeably on the forum. 

[Anonymous]

Pre selected means you have a chance based on whatever the bank saw. Not a for sure. You might not get approved. Wheres the other means you are going to get aproved.

[NRB525]

It's US Bank. You have over two years of history with the FlexPerks card.

Use the mailer instructions to app the Cash+. Don't get hung up on terminology here. Given that you recieved the mailer and have an existing US Bank card, you are 99.999% likely to get a Cash+ card.

Once in with US Bank, the gates open wide. I've got a mortgage with them, they called me in 2009 to send me a 1% rewards card, then when I didn't respond to a mailed offer for the Cash+ they called me to give me a second card, a Cash+ in 2013. Just recently converted the first card to my second Cash+, got a Travel Rewards a year ago but didn't like it, have a Fred Meyer also with them.

Go for it.

[uswala]

I had therir reward card (with $1000 CL that I was approved for after calling recon lines for at least 4-5 times) for a bit less than 6 months and one fine day I get a phone call that I am pre-approved for a Cash+ card (which I initially wanted) with a CL of $14K. While talking to the rep I checked the number that I received the call from and it was indeed USBank's no. I went ahead and took plunge. After putting in application rep told me that it was submitted for review and I will hear back something in few days. I was like you said pre-approved and he said US Bank manually reviews the application. Anyway, in a few days I was approved with a CL $14K. So, I would suggest go for it if you need the card.

[Anonymous]

and freezing IBR report is not required due to the pre-existing banking relationship?

[NRB525]

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@Anonymous wrote:

and freezing IBR report is not required due to the pre-existing banking relationship?

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You know, I keep hearing people warning that those services (that I have no idea how to even find) should be frozen. Since I can't find them, I've never frozen them, and have managed to get the mortgage, CC 1, CC 2, CC 3, closed CC 3, CC 4, and CC 1, 2, and 4 all had fat CLI after about 8-9 months of usage.

Yes, I imagine the existing relationship has something to do with it, likely because US Bank has already gone over those mystery services ahead of time, before OP has a chance to freeze them

D'oh!

[Anonymous]

I know others have gotten the Cash Rewards when applying for Cash+ and been unhappy. I'm not sure, does Cash+ have a min SL? $5k? If it does, that's the only potential issue I'd see with it if there's reason to believe that you'd be approved for a lower SL. Your scores look good, but if you don't have other $5k+ limits, or have high balances or low income in relation to balances or CLs, I could see an issue. If not, then it should be good, I'd think. (Again, I don't know if there's a min for Cash+, but I'd check first.)