US Bank Cash+ [UPDATE---APPROVED]

[Anonymous]

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@Anonymous wrote:

Sounds like you're golden. The only problem I've found with this card is that it's hard to pick the category and I want a second one. Will get DH on that eventually.

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For me, it's been an easy choice. Both times my 5% is my Verizon Wireless bill and fast foods.

I showed them some extra luv this month by putting almost $800 on the card and PIF'd before the close date. Hoping they will CLI in a few months.

[ojefferyo]

Are they SP friendly for the CLI? 

[FinStar]

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@ojefferyo wrote:

Are they SP friendly for the CLI? 

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Typically any customer-initiated requests are always HP unless your account qualifies for a specific/targeted auto-CLI promotion (via snail mail, email, online).  US Bank would typically SP your CR to make the promotional offer.  The majority of the time the CLI is granted (SP) unless any major changes occured from the time they SP'd and when you take the offer.

[FinStar]

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@ojefferyo wrote:

Just called the underwriting number and she said that 99% of the applications go through this. Asked if there was any other information needed from me, she asked for my SSN and checked into it and said nothing else is needed. She also said typically it takes about 3 days to process. Now the wait really begins lol I guess their underwriting don't have as much power as other lenders to make that decsion at the moment or something?

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Yes, this is standard for US Bank and you need to bear patience.

[Ghoshida]

I got 2 Cash+ cards, one before they allowed online apps and one after.

For the first one they pulled EX, for the second they pulled EQ. They are also known to pull ARS / IDA and so if they show a large number of inquiries they might do crazy things like give you a cash rewards which'd suck.

Anyway with my Cash+ that didn't happen, lucky. I never had preapprovals; I did cold apps. With scores around 730-740 I got in twice. APRs on the higher side, no 0%, but I didn't care. The first approval took 9 business days, the second took 5. They are very thorough with whatever they do. I guess. (Then they screwed me over with the Club Carlson but it was partly my fault. That card's going to SD faster than lightning.)

On one my categories are car rentals, cell phone, and groceries; and the other has movies, fast food, and restaurants, respectively in the 5-5-2 sets. In the fourth quarter I might swap movies / fast food for sporting goods and dep stores. Then close my REI card. It won't grow much from here. 

Oh and CLI comes in both versions. With my REI and first Cash+, I've got CLIs after 6 month intervals, both SPs, as long as requests are <=$2k. They have an online form that's somewhere there in this forum, but not on their site. Don't try that through the CSR. Never got an auto CLI. 

Cashback accrues immediately; on the reward details page, you could see whether the transaction got classified as the 5% / 2% category. So far I've not faced a classification issue; though I hold it against Visa for categorizing Car2Go and ZipCar as non-rental "transportation-other". 

[Ghoshida]

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@FinStar wrote:

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@ojefferyo wrote:

Just called the underwriting number and she said that 99% of the applications go through this. Asked if there was any other information needed from me, she asked for my SSN and checked into it and said nothing else is needed. She also said typically it takes about 3 days to process. Now the wait really begins lol I guess their underwriting don't have as much power as other lenders to make that decsion at the moment or something?

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Yes, this is standard for US Bank and you need to bear patience.

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It goes through credit check, then verfication, then back to credit check. The ARS / IDA pulls also slow down the system. They do have an immediate decision granted by the computer though; however all of that has to be ratified by people. 

When I first called for the Cash+, the rep taking the app told me the system showed her that I was "recommended for approval" but the entire thing had to go through the process anway. And that was one year since I had their REI card.

[-Cal-]

wow you guys are rich. 

good luck with your Cash+, this card is on my list of cards to get during my next round of apps. 

[FinStar]

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@Ghoshida wrote:

I got 2 Cash+ cards, one before they allowed online apps and one after.

For the first one they pulled EX, for the second they pulled EQ. They are also known to pull ARS / IDA and so if they show a large number of inquiries they might do crazy things like give you a cash rewards which'd suck.

Anyway with my Cash+ that didn't happen, lucky. I never had preapprovals; I did cold apps. With scores around 730-740 I got in twice. APRs on the higher side, no 0%, but I didn't care. The first approval took 9 business days, the second took 5. They are very thorough with whatever they do. I guess. (Then they screwed me over with the Club Carlson but it was partly my fault. That card's going to SD faster than lightning.)

On one my categories are car rentals, cell phone, and groceries; and the other has movies, fast food, and restaurants, respectively in the 5-5-2 sets. In the fourth quarter I might swap movies / fast food for sporting goods and dep stores. Then close my REI card. It won't grow much from here. 

Oh and CLI comes in both versions. With my REI and first Cash+, I've got CLIs after 6 month intervals, both SPs, as long as requests are <=$2k. They have an online form that's somewhere there in this forum, but not on their site. Don't try that through the CSR. Never got an auto CLI. 

Cashback accrues immediately; on the reward details page, you could see whether the transaction got classified as the 5% / 2% category. So far I've not faced a classification issue; though I hold it against Visa for categorizing Car2Go and ZipCar as non-rental "transportation-other". 

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Hey Goshida!  So, I'm aware of the online "CLI form/link" that's floated around for sometime (I have the links saved somewhere); and if memory serves me right, does that still hold true for SP CLIs for up to $1,500?  How recent have you done one via that method?  I just got promotional SP CLIs recently from my Kroger and Cash+ but would definitely fill the void in between the next ones

[B335is]

Interesting data point about SP customer initiated CLI if under $2k. I never tried that.

OP, I'd be really surprised if you aren't approved. The CSR is right though, 99% of their apps seem to get manually reviewed by UW. Especially if you don't have any existing relationship. Once in they were more willing to extend me more credit. Although they seem to have cut me off for the time being.

[ojefferyo]

Hopefully I get some good news by next week. Do they send you an email, phone call, or letter in the mail of the decision?