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@FinStar wrote:
@TRC_WA wrote:
@Themanwhocan wrote:
@TRC_WA wrote:Maybe it's just me... but if I had $100k + of credit lines (just napkin math I didn't actually add up your accounts) I would have closed the $300 account long ago...
... and with that many new accounts... well... are you really surprised?
They said they got that card at the start of their credit journey 10 months ago. And they apparently gained that massive number of cards and credit limits in that 10 months, including a $30,000 NASA card and a $15,000 Diners Club card, both of which are pretty recent cards for most people that have them. And US Bank denied a CLI?
Hmm, perhaps I don't recall where I was going with this. I can't figure out why they would deny a CLI either...
Signed,
-Mr Friendly, Supportive, and Respectful
How many new accounts in the OP's sig?
42? In 10 months? Obviously US Banks red flags went off. Ya think?
I don't work in banking but the denial is pretty easy to figure out. I'd wager too many inquiries was another factor.
Signed,
Captain Obvious
OP - didn't you also recently get 2 CLIs with BofA (I believe Merril+ was one of them)? Honestly, even by my recent growth with new cards, I space things out so as not draw attention. But, if you have no further need with the US Bank card (regardless of CL) just close it. Also, IMO, I think it's time to slow down. Remember, lenders are watching and if you recently ammassed several new accounts (especially in the last 8-12 months) to include the number of inquiries you don't want to place yourself on the AA "algorithm" radar, by anyone. Just my .02c. As far as the score, check to see how current that is and whether it's their own scoring model.
By my count, there is just over $256,000 in credit limits in that signature, plus an Amex Charge card and mention of 4 more cards...
There was another thread that highlighted the most recent CC growth. I sure hope no lender takes AA because it will not be pretty.
@One7 wrote:Just did the totals... yikes... added 23 new cards for a total of $156k. All were prime cards though, no store cards except my John Deere account. Also added a new truck loan. I had quite a few CLIs too probably around 15 or 20k. Jcrew alone gave me a $7k increase throughout the year. Thankfully next year I'll only be applying for one card unless something new comes out and all my INQs begin falling off. Dont know whether im impressed with myself or scared lol
Not sure who actually read the entry or who just skimmed through it and saw the number ten and went from there, I got this card almost 2 years ago back in February of 2013, I'm simply irritated at the fact that they told me my score was a fico 616 which is lower than all my others by at least 100 points. Sure I'd like to have it grow with me just like all the others did, thats what is bothering me. By the way I got my Nasa CC back in March of 2013 not this past year (that's just a side note) and yes I've gotten many cards and CLIs but that's what bugs me more than anything. Had these guys almost 2 years and wont even give me a $1 more? Then to tell me my score is 100 pts lower and that's why? Pretty rediculous. When thr card hits 2 years it'll be gone just like 6 other cards I have that I used as builders, but seriously where are theu getting this 616?
@chalupaman wrote:
@One7 wrote:I got this card at the beginning of my journey as a secured card, after a year I asked for it to be unsecured which they did for me. Its been 10 months since then and they still wont give me anything and its by far my lowest limit sitting at $300... ughhhh Anyway I requested an increase online with their rediculous old school form and today got a letter saying I was denied yet again. They said too many new accounts (which is true) but also that my TU score was 616... 616? Seriously 616? What TU are they pulling? Even though it was a SP all my TU scores are above 720; Discover, Walmart, Barclays and even all the Fakos. The fakos all say I have near 800 scores. So what gives? A 616? I haven't had a score like that in a year and a half... very disappointed at them and as soon as this card hits 2 years its gone! Planned on getting it to 5k and then PCing it to a better US Bank product but apparently that'll never happen. 616??? Really?
I'd just dump the card. You've got so many better ones now anyway and you can always try US Bank's better products in the future.
It'll be gone in February when it hits the two year mark and maybe a few months after I'll try for another product, the card did what I needed it to do. I'm just irritated that US Bank told me my score was so low
@NRB525 wrote:
@One7 wrote:I got this card at the beginning of my journey as a secured card, after a year I asked for it to be unsecured which they did for me. Its been 10 months since then and they still wont give me anything and its by far my lowest limit sitting at $300... ughhhh Anyway I requested an increase online with their rediculous old school form and today got a letter saying I was denied yet again. They said too many new accounts (which is true) but also that my TU score was 616... 616? Seriously 616? What TU are they pulling? Even though it was a SP all my TU scores are above 720; Discover, Walmart, Barclays and even all the Fakos. The fakos all say I have near 800 scores. So what gives? A 616? I haven't had a score like that in a year and a half... very disappointed at them and as soon as this card hits 2 years its gone! Planned on getting it to 5k and then PCing it to a better US Bank product but apparently that'll never happen. 616??? Really?
Are you near an actual US Bank Branch? If so visit them and the tellers will likely be happy to put in your app for a new card. If not, you can try calling them.
This card has reached the limit of what it can do. Time to bury it like a little dead frog.
Definitely good advice. It's not doing me any good anymore
@TRC_WA wrote:Maybe it's just me... but if I had $100k + of credit lines (just napkin math I didn't actually add up your accounts) I would have closed the $300 account long ago...
... and with that many new accounts... well... are you really surprised?
I like to keep my accounts open at least 2 years before I close them so they look better on my reports, its coming up and will definitely be gone in 2 months. Not surprised by the new accounts deal just more surprised by the score theu use.
@TRC_WA wrote:
@Themanwhocan wrote:
@TRC_WA wrote:Maybe it's just me... but if I had $100k + of credit lines (just napkin math I didn't actually add up your accounts) I would have closed the $300 account long ago...
... and with that many new accounts... well... are you really surprised?
They said they got that card at the start of their credit journey 10 months ago. And they apparently gained that massive number of cards and credit limits in that 10 months, including a $30,000 NASA card and a $15,000 Diners Club card, both of which are pretty recent cards for most people that have them. And US Bank denied a CLI?
Hmm, perhaps I don't recall where I was going with this. I can't figure out why they would deny a CLI either...
Signed,
-Mr Friendly, Supportive, and Respectful
How many new accounts in the OP's sig?
42? In 10 months? Obviously US Banks red flags went off. Ya think?
I don't work in banking but the denial is pretty easy to figure out. I'd wager too many inquiries was another factor.
Signed,
Captain Obvious
10 months? Did you read the original thread at all? I started rebuilding 2 years ago (I know that isnt much better lol but still) and surprisenly EVERYONE seems to like my EX report because I only have 2 INQs on my TU report.
Signed,
The guy who reads info before speaking
@Themanwhocan wrote:
@TRC_WA wrote:Maybe it's just me... but if I had $100k + of credit lines (just napkin math I didn't actually add up your accounts) I would have closed the $300 account long ago...
... and with that many new accounts... well... are you really surprised?
They said they got that card at the start of their credit journey 10 months ago. And they apparently gained that massive number of cards and credit limits in that 10 months, including a $30,000 NASA card and a $15,000 Diners Club card, both of which are pretty recent cards for most people that have them. And US Bank denied a CLI?
Hmm, perhaps I don't recall where I was going with this. I can't figure out why they would deny a CLI either...
Signed,
-Mr Friendly, Supportive, and Respectful
I know you dont know my full journey but you could have at least read the original post. Ive had this card almost 23 months NOT 10 months. My NASA cc I got before this one not recently like everyone else. What you obviously missed is that I'm irritated at thr score they said they used, the 616, they want to deny more for too many accounts well then so be it, but them throwing a 616 at me is crazy
@FinStar wrote:There was another thread that highlighted the most recent CC growth. I sure hope no lender takes AA because it will not be pretty.
@One7 wrote:Just did the totals... yikes... added 23 new cards for a total of $156k. All were prime cards though, no store cards except my John Deere account. Also added a new truck loan. I had quite a few CLIs too probably around 15 or 20k. Jcrew alone gave me a $7k increase throughout the year. Thankfully next year I'll only be applying for one card unless something new comes out and all my INQs begin falling off. Dont know whether im impressed with myself or scared lol
Not worried about AA, I'll be fine. If you read the original message I was mad about the score they use, not at the actual denial itself. Sure I'm not happy about the denial but oh well I'll live. I'm wondering if anyone has insight on where they get this extremely low score compared to everyone else. I know I have many new accounts and blah blah blah, I'm not some newbie crying about it on here about why I didnt get it because I know the reason. Its the score they use, it makes me want to steer away from them in any future endeavors if they use a system where my scores are 100 points less. That's what this post was originally intended for, not to hear a bunch of people talk about something I already know. Not my first rodeo guys
@One7 wrote:
@FinStar wrote:There was another thread that highlighted the most recent CC growth. I sure hope no lender takes AA because it will not be pretty.
@One7 wrote:Just did the totals... yikes... added 23 new cards for a total of $156k. All were prime cards though, no store cards except my John Deere account. Also added a new truck loan. I had quite a few CLIs too probably around 15 or 20k. Jcrew alone gave me a $7k increase throughout the year. Thankfully next year I'll only be applying for one card unless something new comes out and all my INQs begin falling off. Dont know whether im impressed with myself or scared lol
Not worried about AA, I'll be fine. If you read the original message I was mad about the score they use, not at the actual denial itself. Sure I'm not happy about the denial but oh well I'll live. I'm wondering if anyone has insight on where they get this extremely low score compared to everyone else. I know I have many new accounts and blah blah blah, I'm not some newbie crying about it on here about why I didnt get it because I know the reason. Its the score they use, it makes me want to steer away from them in any future endeavors if they use a system where my scores are 100 points less. That's what this post was originally intended for, not to hear a bunch of people talk about something I already know. Not my first rodeo guys
sorry to hear about the CLI denial One. What US Bank uses is a Fico 04 version model and dont be surprised of the actual score. My Fico 04 scores are almost 100 points less than Fico 08 also. I remember getting a score from US Bank a few months ago and it was 670 while Fico 08 here was around 772. I read the 04 model weighes heavily the INQs, new accounts and AAoA so maybe thats why the score is very low.