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@Anonymous wrote:@FinStar Yeah I would only apply if I was 99% sure I would get it. Otherwise it seems like it isn't worth the trouble.
Exactly. So, if you feel it's 50/50, wait until verything is optimal. I waited until things were just right to ensure it would be approved. The only thing that was foggy was the overall processing of the application (manual vs instant, timeframe, etc.), which is why I went to the branch vs calling it in.
Even if you get the Cash Rewards card, that will have the likely auto CLI after several months, and serves as a trial run with US Bank to get the Cash+ later on.
The real advantage to the Cash+ is you can choose when you want any of the available 5% categories. Select Cellphone for most quarters as one, you can get to Department Stores, Sporting Goods Stores, if you are planning on making some big purchase in those categories. Then put it back to another longer term, lower spend category to get 5% there.
And the 2% groceries is not bad, considering it comes along with the card, so can obviate the need for several other 2%/3% grocery cards (3% being not noticeably different from 2% in most bonus calculations). If you don't want groceries, try dining or gas that quarter for 2%.
And you'll probably get decent BT offers, maybe not 0% but lower interest than any of your other CC, so that option is usually available as well.
@kdm31091 wrote:
Well, it sucks to be issued the lesser card but what would you have otherwise? A wasted HP?
I dunno, something is better than nothing if they don't wanna give you the better card. I don't think Cash+'s remaining 5 percent categories are especially useful, but YMMV. They're certainly nothing exciting to me but it depends on your spend as always.
They're useful to me. I have Restaurants, Fast Food and Movies for this quarter and it's working just fine for me. Every individual's spend/usage will differ so IMO, not a bad product overall despite scaling back the other categories.
I just checked MyFico, and between the 3 reports, I have average 770 score. I'm wondering if I should go ahead and apply for this card lol.
@FinStar wrote:
@Anonymous wrote:@FinStar Yeah I would only apply if I was 99% sure I would get it. Otherwise it seems like it isn't worth the trouble.
Exactly. So, if you feel it's 50/50, wait until verything is optimal. I waited until things were just right to ensure it would be approved. The only thing that was foggy was the overall processing of the application (manual vs instant, timeframe, etc.), which is why I went to the branch vs calling it in.
So, how long did that take, to wait for everything to be optimal? And would it be just as efficient to try, take the chance on the app, take the Cash Rewards if that was all that was offered, and work that into a relationship with US Bank to get the Cash+ later?
@mmoon24 wrote:I just checked MyFico, and between the 3 reports, I have average 770 score. I'm wondering if I should go ahead and apply for this card lol.
If you have a branch nearby, go there. You should be OK with the app, but the branch folks are helpful.
@NRB525 wrote:
@FinStar wrote:
@Anonymous wrote:@FinStar Yeah I would only apply if I was 99% sure I would get it. Otherwise it seems like it isn't worth the trouble.
Exactly. So, if you feel it's 50/50, wait until verything is optimal. I waited until things were just right to ensure it would be approved. The only thing that was foggy was the overall processing of the application (manual vs instant, timeframe, etc.), which is why I went to the branch vs calling it in.
So, how long did that take, to wait for everything to be optimal? And would it be just as efficient to try, take the chance on the app, take the Cash Rewards if that was all that was offered, and work that into a relationship with US Bank to get the Cash+ later?
For me, not really that long. I waited for some inquiries and new accounts to age (give or take 8-9 months, EQ pull for me). I had applied for a few CCs at the end of October 2012, then submitted the Cash+ application around early July 2013. Once the tiny dip in my scores recovered, I went for it.
There weren't very many data points during 2013 on successful PC'ing and since not everyone could apply for it at the time, I didn't want to get stuck with something else that I did not need/want. So, waiting paid off IME.
@NRB525 wrote:
@mmoon24 wrote:I just checked MyFico, and between the 3 reports, I have average 770 score. I'm wondering if I should go ahead and apply for this card lol.
If you have a branch nearby, go there. You should be OK with the app, but the branch folks are helpful.
I agree. To me, this seemed to be the best approach since they followed up periodically and called me back once it was approved.
@mmoon24 wrote:I just checked MyFico, and between the 3 reports, I have average 770 score. I'm wondering if I should go ahead and apply for this card lol.
I got it with about 720 EX.
Apped for it right after the CSP was approved.
If your sig is your current profile, your AAoA is decent enough. Go for it.
FWIW, I have a mortgage with US Bank, they called me to ask me to take the Cash Rewards card in 2009, which I proceeded to use rather heavily, carrying balances of $3k - $5k for a few years. Got to a $10k limit. Then they called me again in October 2013 to give me the Cash+ card. EX score of 713 at the time. $8,500 limit to start. And I could not figure out how to use the rewards consistently, so it didn't get much use, not that I had a lot to spend on rewardable categories. They upped the CL to $12,500 after several months. The Cash Rewards is now at $14k and working on a nice 0% BT. Now I know where the categories should go, but then I put some BT on the Cash+ it so it's harder to use the card. Not impossible. I'll figure it out.
The point being, getting in with US Bank has it's rewards.
Edit: And I forgot about the Travel Rewards. I took the Cash+ card into the branch last August, thinking I would sacrifice it for the Travel Rewards, even told the teller to cancel the Cash+. He nodded his head, paid off the Cash+, put in the app for Travel Rewards, it came back for $17k, and then no word on the Cash+, it kept cutting statements. So I started using it again. A good thing too, because I decided in October, after only a few months, that the Travel Rewards was impossible to benefit from, so I closed that one by writing a letter.