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Anyone experienced this with US Bank for Cash+?

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gnay
Valued Member

Anyone experienced this with US Bank for Cash+?

Applied online for Cash+ (First time app for US Bank product)

Initially got 3-7 or 10 day message as reported by many users.

Approved for a  $1,000 limit....

They said I was bumped down to Platinum card, instead of the Cash+ OR the Cash Rewards Visa Card, which is given to those who did not qualify for Cash+. 

Immediately called the backdoor number, and requested for CLI reconsideration.

When asked how much, I asked for $10,000

Couple days later, called the backdoor  # to find out I was approved for the requested CL of $10,000

However, product still remained as Platinum.

Underwriting told me to call cardmember services for PC.

Called to PC and was advised to wait 6 months for PC by the frontline CSR

Requested to speak with a supervisor.

Fortunately, the supervisor, a nice lady, told me they will manually review the case in exactly 32 days since the date of intial approval and told me she doesn't see any reason that I will get denied.

Underwriting should have considered me again for Cash+, which I initially applied for when they approved the CLI no?

I guess they don't like giving out Cash+ to customers who are new to their Bank.. 

Anyways, has anyone experienced this and was able to obtain the Cash+ card succesfully? 

 

 

Message 1 of 6
5 REPLIES 5
jzamarripa3220
New Contributor

Re: Anyone experienced this with US Bank for Cash+?

I personally haven't dealt with us bank to comment on your strange situation, but I do want to know how did you get them to increase your limit to that much? I was just approved for a cash+ last wednesday and it was my first app ever with us bank too. If you don't mind sharing
Message 2 of 6
takeshi74
Senior Contributor

Re: Anyone experienced this with US Bank for Cash+?


@gnay wrote:

Underwriting should have considered me again for Cash+, which I initially applied for when they approved the CLI no?


Not necessarily.  A CLI and a PC are two entirely different things.  You OP only indicates that you requested a CLI.  Did you request the PC along with the CLI?

Message 3 of 6
Anonymous
Not applicable

Re: Anyone experienced this with US Bank for Cash+?

I think what happened to OP is not uncommon. A lot of people (myself included) get downsold when applying for the Cash+ even if you do get an initial limit that would be sufficient for a cash+ (Over 5K). Just call back in a month and a half and ask for the PC. you should be eligible.
Message 4 of 6
axledobe
Frequent Contributor

Re: Anyone experienced this with US Bank for Cash+?

I would stay on them.  To be straight, they are terrible.  Card member services is in no hurry to get back to you.  I didn't get downgraded but they sent me a prequal for a specific interest rate and when I was approved, it was MUCH higher (and the app was around 3 days post SP they based APR on).  They finally honored it but it took a fight and way too much time.  Now that the Cash+ did away with drug stores, it's pretty much useless to me.  I keep it around because I've banked with US Bank for 14 years now but the whole process left a bad taste in my mouth.  For you, I'd just wait and see how it goes.  With US Bank, you never know.  Wishing you the best on the upgrade....

 

FYI- they are one of the very few that uses FICO 04 scoring model which is usually much lower than 08.  When I applied, my TU 08 score was in the 770's and they pulled a 721 so quite the difference.  That may be why you were downgraded but not sure.  Again, good luck! 


FICO SCORES: TU 769; EX 790; EQ 790 ***Gardening indefinitely***



Message 5 of 6
gnay
Valued Member

Re: Anyone experienced this with US Bank for Cash+?

It was literally a 2 minute phone call. Disappointed, asked if I can be reconsidered for a higher limit by saying that I already have three cards at/over $10,000. When asked for any specific amount, I asked if they can match those limits. I was told decision will be made within 3 business days. 

Message 6 of 6
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