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Just told US Bank goodbye!

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Anonymous
Not applicable

Re: Just told US Bank goodbye!

I still can't believe she said they didn't like the number of accounts you opened in the last year. Just poor taste and judgment. Such a company shouldn't act that way period.
Message 21 of 91
Christina_xyt
Established Contributor

Re: Just told US Bank goodbye!

i get that you were pissed, i just hope that you will not regret not having those good cards.. I had been wanting the cash+ for a long time.. but i just don't think i'd qualify.. since i would probaly only using the 5% catergory and there is a cap? i wouldn't care about limit too much..

 

but of course that is just me..


In sequence of approval, Last app/inquiry 5/30/2015
Message 22 of 91
Brax
Frequent Contributor

Re: Just told US Bank goodbye!

A credit line reduction is still way better than if they had just closed your accounts outright. You got to close them on your own instead of a 'Closed by credit grantor' that other banks are well known for. At the end of the day, that's a major win!

 

My experience with US Bank the last 10 years has never been very good, I get the impression they don't care much about retaining long-time cardmembers.

 

Message 23 of 91
patrick00032001
Regular Contributor

Re: Just told US Bank goodbye!

I dont need to carry a US Bank card in my wallet to make myself feel important or privledged, my credit rating speaks for itself, and I am not going to keep 2 credit cards that may end up doing this to me again in 6 months or god who knows? The bank or the rewards mean nothing to me if I can't count on them providing me with reliable service. I will sleep very well tonight with my decision, I have a very thick credit file that dates back to 1996. I think I got this.

Discover IT $32,500, Chase Freedom $1,000.00, Sears Mastercard $10,000, Wal-Mart DC $10,000.00, Kohl's $3,000.00, Chase Slate $52,000.00, 3 Rivers FCU Platinum Mastercard $25,000.00, IU Credit Union $25,000.00, Penfed LOC $25,000.00, Fort Financial CU $15,000.00, Home Depot $22,000.00, Lowe's $20,000.00, Penfed Power Cash Rewards $25,000.00, PenFed Travel Amex $25,000.00, Value City Furniture $10,000.00, PNC Points Visa Signature $15,000.00, GM Buy Power card $5,000.00, BOA 123 Visa Siggy, $62,000.00, Citi DC $15,000.00, GM Extended Family $3,000.00, Fire, Police, City, County, FCU $10,000.00, TU 791, Eq 765, Exp 772

Message 24 of 91
sunkissed
Established Contributor

Re: Just told US Bank goodbye!

Good for you Patrick!  Only do business with companies you have confidence in.  That's your right as a consumer.  I applaud you for doing what you feel is right for you.

NFCU Flagship $32K | NFCU Cashrewards $42K | Discover IT $39K | SECU Visa $20K | Chase SW $24k | CSR $15K | Chase Bonvoy $11.5K | Chase Freedom $11.5K | Chase Amazon Visa 8.5K | AMEX Bonvoy $18.1K | AMEX Hilton Surpass $15K | AMEX Hilton Aspire $24.4K | AMEX Gold | Aviator Red $16K | Uber Visa 10k | Citi TY Premier $24.6K | BoA Premium Rewards 35k | BoA Cash Rewards Visa $31.5k | BoA Cash Rewards MC $23k | US Bank Cash+ $10k | USAA AMEX $6K | Cap1QS $11K | BJs MC $27.6K | Walmart MC $5.1K | Loft MC $25,000 | Macy’s Store/Amex $20K/$1K | BR Visa $10K | JCP $1K | VS $3.2K | Home Depot $5K | Lowes $8.5K | Target $14.5k
Message 25 of 91
alvon123
Super Contributor

Re: Just told US Bank goodbye!


@patrick00032001 wrote:

I have a Kroger 123 Rewards Visa and a Cash + card, I go online last night to pay my bill, noticed they slashed my Kroger card down to $2,000.00 from $17,000.00 and my Cash + from $5,000.00 down to $1,000.00, now mind you, I have always paid these cards in full each month, I called customer service, they transfered me over to investigations dept, and they tell me, they dont like the new accounts I have opened over the last year! I politely told her, I like having your card, but I dont NEED your card, please close both my accounts right now! She got queit, then said ok? I told her, I have other options, with much better rates, and much higher credit lines, I told her, the 18.99% you charge tier A customers is highway robbery, I told her, the rewards are nice, but my credit union loves my business, and they love my credit so much they gave me 8.95% with a $20,000.00 credit line, after my rant with her, she said I understand, I will close these accounts right away, I told her, BIG BANKS think they can jerk people around and play games, I said credit unions are focused on people, and taking care of their needs, I told her, I will never consider US Bank for anything else in the future, thanked her and hung up! Smiley Frustrated


sorry to hear about your Kroger Rewards card,  Now  I will have to watch my Kroger card to make sure they don't try that with me.Smiley Surprised


Message 26 of 91
VirtualCuriosity
Established Contributor

Re: Just told US Bank goodbye!


@patrick00032001 wrote:

I really only utilized this card heavily at Kroger stores and gas stations, it was US Bank who set my credit line at $17,000.00 when I was originally approved for it, did I apply for the card to help with utiliztion? No, honestly for the rewards, nothing on my credit profile has really changed since then, other than a few new accounts, if they wanted to lower my credit line, how about an email, phone call, or a letter? Courtesy should mean something, its quite tacky for a bank to lower credit lines on credit quality people, let alone not have the decency to at least inform them of it. The kept soliciting me for this card for about a year until I finally bit, then not even a year later they shake me down and treat me as a risk? No thank you, play your games somewhere else!


That I agree with 100% because what if you were making a large purchase and it was denied, that's uncomfortable.  


TU713, EQ 731 , EX 726 (As of 12/13/14) - Personal Goal = 760

“Beware of little expenses. A small leak will sink a great ship” – Benjamin Franklin

Gardening since 3-26-15































Message 27 of 91
patrick00032001
Regular Contributor

Re: Just told US Bank goodbye!

I have a gold card from my home town bank I applied for back in 2011, I still use it, the limit is $5,000.00 with an Apr of 14.9%, what an experince, I remember setting with my loan officer, we talked about things going on in town while he was pulling my credit file, he asked me how much I wanted, I said all I can get, lol, he said how about I give you the max limit of $5,000.00? I said sounds good to me! Then we talked about his wife and kids, he got up from his desk to get an additional signature from the VP of lending on my application, we shook hands, and in a week my card came. Guess what? after 4 years I have never defaulted, and hes never felt the need to pull my credit reports to see what I am up to in the mean time. This is how banking should be, and I understand bigger banks have centralized underwriting, which really limits any authority loan officers have, but when you can actually set down with the person making the decision, it really helps build that relationship, and future business!

Discover IT $32,500, Chase Freedom $1,000.00, Sears Mastercard $10,000, Wal-Mart DC $10,000.00, Kohl's $3,000.00, Chase Slate $52,000.00, 3 Rivers FCU Platinum Mastercard $25,000.00, IU Credit Union $25,000.00, Penfed LOC $25,000.00, Fort Financial CU $15,000.00, Home Depot $22,000.00, Lowe's $20,000.00, Penfed Power Cash Rewards $25,000.00, PenFed Travel Amex $25,000.00, Value City Furniture $10,000.00, PNC Points Visa Signature $15,000.00, GM Buy Power card $5,000.00, BOA 123 Visa Siggy, $62,000.00, Citi DC $15,000.00, GM Extended Family $3,000.00, Fire, Police, City, County, FCU $10,000.00, TU 791, Eq 765, Exp 772

Message 28 of 91
yfan
Valued Contributor

Re: Just told US Bank goodbye!


@patrick00032001 wrote:

Banks can buy software, and monitor all they want for risk, but heres the thing, NO bank will ever be able to predict who is a better risk than say another, things happen, people get killed in accidents, get stricken with illnesses, lose jobs, ect...., they can monitor all they want, losses happen, there isnt any software out there that can give them 100% peace of mind


But risk models are not about 100% peace of mind, they are about statistical probabibility models. Sure, anyone can get hit by a car tomorrow and die and all their debts would be wiped out. Banks can't account for that. But they can account for other factors, such as credit use, new accounts, etc. I'm not saying what they did to you is right, but what they did was make a calculated decision: they knew there's a risk that you'd get ticked off and close your account, and thus they would lose the swipe revenue from it. They knew the risk. They took it. And you reacted the way you did. This is business. They made a business decision, and so did you.

Message 29 of 91
yfan
Valued Contributor

Re: Just told US Bank goodbye!

This here is a good case study as to why all the outrage against Amex for doing FRs may not be warranted. If this were Amex, they would have done an FR (maybe), and once you verified your income and talked to them about the new credit, everything would probably be fine. Other banks may not do invasive FRs, but what they do may well be worse.

Message 30 of 91
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