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Valued Contributor
Guardian
Posts: 1,148
Registered: ‎04-23-2008
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Re: Feeling the US Bank luv


MidnightVoice wrote:

Guardian wrote:
.......keep in mind they are very conservative and cautious. Their decisions are made with great consideration and intended to ensure the safety and security of both sides, you and them.

 

You are telling me!  With a 788 and a prefectly clean report and 2% util and 1 over 9 month old inq the banker I talked to said it had to go to an underwriter to be checked!  She was amazed  :smileyhappy:

 

But I got it within an hour.


Yeah they approached you more conservatively than usual, it was suprising but in the end it worked out. Within an hour they gave you the card. Nothing personal, right? :smileywink:


Common Abbreviations|FDCPA|FCRA
Take the FICO Fitness ChallengeStarting Score: TU:695 - EQ:719 - EX:630
Current Score: TU:712 - EQ:755 - EX:712
Goal Score: TU:800 - EQ:800 - EX:800


Valued Contributor
Guardian
Posts: 1,148
Registered: ‎04-23-2008
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Re: Feeling the US Bank luv


YoungEntrepeneur wrote:
Guardian, thanks for the response. My credit history will be 2 years old in May and my overall utilization is 15% and I don't have any lates or baddies. But, I have a lot of inquiries (20+) and that's the reason why I asked if they're inquiry sensitive. I'm in Souther California, who do they usually pull out here? My TU FICO is about 710.

Well that is not by itself a bad looking credit. They might look a bit more cautiously at you but all in perspective, I think you will be fine. I am in SoCal too and they are in the Midwest, Minneapolis, Minnesota, so more likely to pull your EQ or TU and maybe even both or all 3 if they feel they need a bigger picture. But with no baddies, I think you will be fine. Good luck.


Common Abbreviations|FDCPA|FCRA
Take the FICO Fitness ChallengeStarting Score: TU:695 - EQ:719 - EX:630
Current Score: TU:712 - EQ:755 - EX:712
Goal Score: TU:800 - EQ:800 - EX:800


Established Contributor
YoungEntrepeneur
Posts: 586
Registered: ‎03-03-2009
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Re: Feeling the US Bank luv

I hadn't applied for a card since September 2007 and now I fell off the wagon. The only reason why I applied for this card is because I needed a back-up. I currently have the following cards:

 

BOA WorldPoints Visa ($4500 CL)

Capital One Platinum Mastercard ($4550 CL)

ESPN Visa ($2,000 CL)

Citi Secured Mastercard ($200 CL)

Best Buy Store Card ($2,300 CL)

Macy's Store Card ($4,800 CL)

Guitar Center Store Card ($2,000 CL)

Lowe's ($550)

Valued Contributor
Guardian
Posts: 1,148
Registered: ‎04-23-2008
0

Re: Feeling the US Bank luv


YoungEntrepeneur wrote:

I hadn't applied for a card since September 2007 and now I fell off the wagon. The only reason why I applied for this card is because I needed a back-up. I currently have the following cards:

 

BOA WorldPoints Visa ($4500 CL)

Capital One Platinum Mastercard ($4550 CL)

ESPN Visa ($2,000 CL)

Citi Secured Mastercard ($200 CL)

Best Buy Store Card ($2,300 CL)

Macy's Store Card ($4,800 CL)

Guitar Center Store Card ($2,000 CL)

Lowe's ($550)


Your BofA is good, even though personally I don't like their credit cards, limit is good too. Capital One, well what can I say not the greatest but you seem to have a decent credit line and I assume no AF, so you are good there. ESPN, I am not sure but I think that's a Chase card, personally not my favorite creditor but some like them, some hate them, depends on how you feel about them. Citi, same. Best Buy, is an HSBC, so that is iffy. Macy's is ok, and other store cards help your mix but don't good overboard. It looks pretty decent, but don't over extend, you might end up hurting yourself with TOO much credit. IMHO.


Common Abbreviations|FDCPA|FCRA
Take the FICO Fitness ChallengeStarting Score: TU:695 - EQ:719 - EX:630
Current Score: TU:712 - EQ:755 - EX:712
Goal Score: TU:800 - EQ:800 - EX:800


Established Contributor
YoungEntrepeneur
Posts: 586
Registered: ‎03-03-2009
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Re: Feeling the US Bank luv

The reason why I was trying not to apply for any cards until 2011 is because I really want to get approved for the PenFed Platinum Cash Rewards Visa. I'm already a member and applied for the card in December and was denied due to "pyramiding debt". I called for a recon. and told them that they can pull my EX report and see that I have paid some of my debt but they still denied me.
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haulingthescoreup
Posts: 28,115
Registered: ‎04-01-2007
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Re: Feeling the US Bank luv

YoungE, I'd let the steam come off your inqs first. With your very young credit history, I'm thinking that you're going to look app-happy to them. Remember that lenders don't know if you're just sensibly building a credit portfolio or in some mad rush to accumulate a bunch of cards before you get a pink slip.

Maybe 7 months after your last inq?
* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007
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haulingthescoreup
Posts: 28,115
Registered: ‎04-01-2007
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Re: Feeling the US Bank luv


YoungEntrepeneur wrote:
The reason why I was trying not to apply for any cards until 2011 is because I really want to get approved for the PenFed Platinum Cash Rewards Visa. I'm already a member and applied for the card in December and was denied due to "pyramiding debt". I called for a recon. and told them that they can pull my EX report and see that I have paid some of my debt but they still denied me.

When PenFed says "pyramiding debt", they should be saying "pyramiding credit" --they worry when they see a rapid expansion of your available credit.

Around here, you might see references to "being an Egyptian" --that means the rapid acquisition of a whole lotta credit in a relatively short time.
* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007
Valued Contributor
Guardian
Posts: 1,148
Registered: ‎04-23-2008
0

Re: Feeling the US Bank luv


YoungEntrepeneur wrote:
The reason why I was trying not to apply for any cards until 2011 is because I really want to get approved for the PenFed Platinum Cash Rewards Visa. I'm already a member and applied for the card in December and was denied due to "pyramiding debt". I called for a recon. and told them that they can pull my EX report and see that I have paid some of my debt but they still denied me.

Agreed friend, let the inquiries age a bit and no longer be such a factor being taking on any more hits. JMO


Common Abbreviations|FDCPA|FCRA
Take the FICO Fitness ChallengeStarting Score: TU:695 - EQ:719 - EX:630
Current Score: TU:712 - EQ:755 - EX:712
Goal Score: TU:800 - EQ:800 - EX:800


Established Contributor
YoungEntrepeneur
Posts: 586
Registered: ‎03-03-2009
0

Re: Feeling the US Bank luv

I've been looking into what US Bank has to offer and have heard nothing but great things about to them and I really needed a good back-up card so I applied and let's see what happens.
Valued Contributor
Guardian
Posts: 1,148
Registered: ‎04-23-2008
0

Re: Feeling the US Bank luv


YoungEntrepeneur wrote:
I've been looking into what US Bank has to offer and have heard nothing but great things about to them and I really needed a good back-up card so I applied and let's see what happens.

Ok, you pulled the trigger, now let's see how it turns out. I hope for the best and wish you luck to get that good backup you need. Let us know how it goes. Good luck.


Common Abbreviations|FDCPA|FCRA
Take the FICO Fitness ChallengeStarting Score: TU:695 - EQ:719 - EX:630
Current Score: TU:712 - EQ:755 - EX:712
Goal Score: TU:800 - EQ:800 - EX:800



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