US Bank Premier Line of Credit Any Info On This?

[Anonymous]

I bank with US Bank, and I have noticed a new tap they added to my dashboard, it says "Apply for a premier line of credit." Does anyone have experience with this? What credit scores would be needed for something like this? I recently applied for a personal loan with them and was turned down because my scores were too low and they wanted a co-signer who also banked with them. I know that US Bank pulls TU and that is my highest score, but I don't know that it is high enough to qualify.

[Anonymous]

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@Anonymous wrote:

I bank with US Bank, and I have noticed a new tap they added to my dashboard, it says "Apply for a premier line of credit." Does anyone have experience with this? What credit scores would be needed for something like this? I recently applied for a personal loan with them and was turned down because my scores were too low and they wanted a co-signer who also banked with them. I know that US Bank pulls TU and that is my highest score, but I don't know that it is high enough to qualify.

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Generally, US Bank wants a customer relationship for their US Bank Premier Plus Line of Credit. As a guide (only) they look to see how you have handled their products, credit bureau and they like to use outside the normal credit bureaus such as SAGE. One of the big things with US Bank and their various products is their "Customer Relations Score." This has a factor in the decision. Time lines ... the personal banker told me they like to see 9 to 12 months for the Premier Line of Credit. Now I used the term guideline because some have been approved outside of the guidelines. As for myself, I went to a branch and sat with the personal banker (with eight months of being a US Bank Customer) who did the work and contacted credit by telephone ... was approve for $8K to start while sitting with the personal banker. It used to be they offered Reserve Lines that ran from $500 to $5,000 that were attached directly to a checking account. The Premier Plus is separate from a specific checking account (has it's own checks, Platinum Credit Card and ability to be attached to a US Bank Checking or Savings Account as you desire) running from $5,000 to $15,000 or ???  and then Home Equity Lines of Credit picked up the action from $15,000 and on. Likely today they may have changed on some of this. The Apr is variable for today and starts at 11% (for us older customers it is much lower) with interest starting immediately on any use so there is no grace period.

[Viva-LV]

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@Anonymous wrote:

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@Anonymous wrote:

I bank with US Bank, and I have noticed a new tap they added to my dashboard, it says "Apply for a premier line of credit." Does anyone have experience with this? What credit scores would be needed for something like this? I recently applied for a personal loan with them and was turned down because my scores were too low and they wanted a co-signer who also banked with them. I know that US Bank pulls TU and that is my highest score, but I don't know that it is high enough to qualify.

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Generally, US Bank wants a customer relationship for their US Bank Premier Plus Line of Credit. As a guide (only) they look to see how you have handled their products, credit bureau and they like to use outside the normal credit bureaus such as SAGE. One of the big things with US Bank and their various products is their "Customer Relations Score." This has a factor in the decision. Time lines ... the personal banker told me they like to see 9 to 12 months for the Premier Line of Credit. Now I used the term guideline because some have been approved outside of the guidelines. As for myself, I went to a branch and sat with the personal banker (with eight months of being a US Bank Customer) who did the work and contacted credit by telephone ... was approve for $8K to start while sitting with the personal banker. It used to be they offered Reserve Lines that ran from $500 to $5,000 that were attached directly to a checking account. The Premier Plus is separate from a specific checking account (has it's own checks, Platinum Credit Card and ability to be attached to a US Bank Checking or Savings Account as you desire) running from $5,000 to $15,000 or ???  and then Home Equity Lines of Credit picked up the action from $15,000 and on. Likely today they may have changed on some of this. The Apr is variable for today and starts at 11% (for us older customers it is much lower) with interest starting immediately on any use so there is no grace period.

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I've been with USB since 2002, have 3 cc's, and the older Reserve Line tied to a checking acc.  I've received two phone solicitations about this, but don't want the hard pull.  I was denied a cli on my oldest cc, but later got an auto cli on another.  USB is a little touchy at times.  May try later tihs year when their new cc come out.

[Anonymous]

Love this product. Much better CL than my CC. USB does like relationships.
I had a CC (Started at $500, then 2 CLIs in the first 9 months)
Opened Checking-Preselected for their Reserve Line. Approved no hard pull for $2k, Called and got $5k
Last month had the same thing on my page and was approved for the Premier Line Plus for $15k.
I have:
2 Checking accounts
3 Money Markets
2 Savings Accounts
1 Cc
1 Reserve Line
1 Permier Line

$100k Income
Pulled TU: 791 Fico 8
20+ INQs (most over 12 months)
Less than 1% Util

Product comes with checks and a Platinum Visa Card the access the funds. Once approved it will take 6 business days to appear-some new rule they have. APR is variable at Prime plus 7-Currently 11%.

I'm a big fan of UsBank. My
First product was the Cc. Lame limit. Once I moved my accounts to them-boom-they loved me then.

One more thing-if you apply on the weekend it will go to a
Manual review. If you want instant call the financial center and app over the phone. They only work M-F.

GL if you apply. It's a great product