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ELAN Cards

Valued Contributor

ELAN Cards

What is the credit requirements for an ELAN card and CL's they give. Do they extend you credit or does the bank they service? The Bank is Center State.

Message 1 of 8
7 REPLIES
Frequent Contributor

Re: ELON Cards

Do you mean ELAN?

Message 2 of 8
Highlighted
Frequent Contributor

Re: ELON Cards

I have an Associated Bank Visa. $800 CL, 2 months ago. Check my siggy, my scores have not changed much

Message 3 of 8
Valued Contributor

Re: ELAN Cards

If it is issued by Elan Financial Service it is a card underwritten by US Bank. US Bank is conservative.

Message 4 of 8
Valued Contributor

Re: ELAN Cards


trumpet-205 wrote:

If it is issued by Elan Financial Service it is a card underwritten by US Bank. US Bank is conservative.


Underwritten by US Banks?  Really?  That is very interesting because I have a Visa that I opened through my local CU that I have to use Elan Financial services to view and pay my bills.  As for them being conservative I would say definitely yes because they only gave me a starting limit of $900 and I have major CC's from 2000 to 7500.


Major CC's - Barclay's ($5.5K) | Barclay's Sallie Mae MC ($5K) | DCU ($7.5K) | Discover IT ($1.4K) | Genisys Visa ($1.4K) | NFCU Visa ($22K) | Navcheck ($15K) | Chase Freedom ($5K) | SDFCU Visa ($8K) | Amex BCP ($9.5K) | Amex Delta ($10K) |Store CC's| -Amazon ($4K) | Catherines ($850) | JCP ($4K) | Macy's ($1.7K) | Avenue ($850) | Victoria's Secret ($1.4K) | Walmart ($4.1K) | Paypal SC ($1.3K) | HSN ($2.5) | Sears ($2.6K) | Sams Club ($4.1K) |Goal|: Age with grace to 750 across the board |Last app|: 3/3/2014
Message 5 of 8
Valued Contributor

Re: ELAN Cards


trumpet-205 wrote:

If it is issued by Elan Financial Service it is a card underwritten by US Bank. US Bank is conservative.



this isn't the credit crunch era anymore. Simmons First, PenFed, and Iberia Bank are Conservative. CapitalOne is Conservative too, its just that its Conservative Aggressive;

 

Us Bank cannot possibly be conservative, because it offers higher credit limits than average, and you dont have to have excellent credit to get a card with them. Now, perhaps the card i have with them (cash plus), they are being somewhat conservative about, as some cannot get approved for the cash plus card.

Message 6 of 8
Valued Contributor

Re: ELAN Cards

of all of the credit offers i have received, 70 percent have come from Elan/Us Bank.... and 100 percent of all of the credit offers i have received from all kinds of small credit unions or banks have ALL been offers via ELAN.....

 

i think this is part of what motivated me to finally aquire a product from us bank. i was never interested in them until early this year.

Message 7 of 8
Valued Contributor

Re: ELAN Cards

I'm comparing US Bank to Chase, Citi, and BofA, and US Bank is the most conservative among them. No doubt that there are lenders that are more conservative than US Bank like Iberia bank, Penfed, FNBO, etc.

 

However, it is inaccurate to use pre-approval offer to judge the approval criteria (or whether or not it is conservative). Pre-approval, pre-selected, invitation to apply, etc whatever you want to call it, all come from a simple process. Lender basically approach CRA with a very generic criteria (say no BK for the last 7 years). CRA produces a list that matches that criteria, and lender sends offers to everyone on the list. These offers means very little of what the lender is looking for.

Message 8 of 8