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Established Member
Posts: 30
Registered: ‎06-18-2009
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Questions re US Bank, LL Bean CC offers and...

Hi folks. Time for me to tap the knowledge and experience of others:


We recently received "prequalified" offers for a US Bank Visa Platinum (me) and LL Bean Visa/Barclays (DH). Purchase APRs for both are variable at 9.99%, no 0%/intro/purchases. Both BT APRs also 9.99%.  LL Bean provides for 0%/6 months/3% fee BTs. US Bank waives BT fee one time at card acceptance, but no 0%/intro BT. USB is supposedly known for generous CLs and balance friendly, LL Bean for their particular rewards.

At first we weren't actively looking for new cards, because earlier we thought we might _might_- do a mortgage sometime next year. That's on hold for now. But we've each been getting RJ'd all over the place, also recently. (As have so many others, I know.)

DH scores are TU FICO 792 EQ FICO 815; mine are TU FICO 780 EQ FICO 809. No "baddies" for either of us. We PIF 4-5 of 7 cards/month with 2 sometimes having balances between 250-350 and current AX balance of 1200 for DH. So occasionally we will leave some balances. This doesn't seem to have negatively affected our long term scores. (Except for one instance? I'll explain below.)

Okay, sorry for all the detail, but some folks always ask for additional, so I thought I'd include it.

I've read good things here about USB and not so good about Barclays. But we are considering the apps. DH loves LL Bean. If history and AAOA didn't count that much, I would have loved to close both Chase and Paypal, and the same for DH with Sears. But I get the bulk of my 29 yr history through my AU on his AX and 13 yrs via AU on Sears, and Paypal's my oldest at two + years, Chase, BOA, and AX near one year. So I know I have to just do the old SD on those cards, if I'm not happy. Although in a little more than a decade we oldsters will both be septuagenarians, and I wonder if by then we'll care!

Anyway, here are my questions.

-Are either of these cards worth the effort? Eventually we want to move to CUs, just not right now.
-Are there better bank CCs than USB for a general balance friendly card? Not including Simmons (not worth it).
-Since we're satisfied enough with current rewards, would DH be better off cold apping for his own USB vs LL Bean?
-Does AX ever "punish" for transferring one of their balances to another card, or would some consider that wise?
-We are in Illinois. Who does USB pull, who does Barclays pull? (If anybody knows)

Last "related" question:

-What would make a CB report say that though both scores are excellent a negative factor is that there's recently been heavy usage of credit - at 4% utilization ?

This shows up on both our recent TU FICO reports, while we used to be higher at 7% and later 6%. There's been SOME recent shopping but no card reflects above 4% usage.

Anyway, all answers to my many queries will be most welcome. Thanks, in advance.

Senior Contributor
creditwherecreditisdue
Posts: 4,923
Registered: ‎04-19-2009
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Re: Questions re US Bank, LL Bean CC offers and...


StarsongPhoenix wrote:

Last "related" question:

-What would make a CB report say that though both scores are excellent a negative factor is that there's recently been heavy usage of credit - at 4% utilization ?

This shows up on both our recent TU FICO reports, while we used to be higher at 7% and later 6%. There's been SOME recent shopping but no card reflects above 4% usage.


The FICO scoring algorithm/report has to spew out one negative reason at the score level you are both at and that is the worst thing it could find. If 4% UTIL is the worst thing about your CBR you are in excellent shape!

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MidnightVoice
Posts: 8,161
Registered: ‎03-25-2007
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Re: Questions re US Bank, LL Bean CC offers and...

I have a USBank card and have no problems.  They are a conservatibe bank and have not suffered too much in the meltdown.

 

I have had no major problems with them

The slide from grace is really more like gliding
And I've found the trick is not to stop the sliding
But to find a graceful way of staying slid
Senior Contributor
creditwherecreditisdue
Posts: 4,923
Registered: ‎04-19-2009
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Re: Questions re US Bank, LL Bean CC offers and...

There is a post here by DickC where he states that he was informed by a USBank official that the automatic CLI's will be eliminated soon. (They are automatic if you ask for them.)
Established Contributor
Posts: 742
Registered: ‎12-19-2008
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Re: Questions re US Bank, LL Bean CC offers and...

[ Edited ]

MidnightVoice wrote:

I have a USBank card and have no problems.  They are a conservatibe bank and have not suffered too much in the meltdown.

 

I have had no major problems with them


 

+1

 

I have a US Bank CC and agree with MidnightVoice. I would not hesitate to carry a balance with US Bank, if I needed/wanted to.

 

 US Bank hard pulled EX for me. I live in Arizona.

 

ETA: US Bank has not once taken AA with my CC account.

Message Edited by plasticman on 10-09-2009 11:02 AM
Frequent Contributor
MyFicoAddict
Posts: 284
Registered: ‎05-11-2009
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Re: Questions re US Bank, LL Bean CC offers and...

I would honestly recommend joining a CU because it is a safer haven. I dont have any experience with USB so sorry cant comment there. I would also say start developing a positive history with a CU and build a r/ship with them and they will most probably be a good way to go mortgage wise and even the rates are much more attractive. Lastly, the CU CC's tend to be more on the lower APR end. I have my PSECU and another CU CC that I work for at 9.9% both and they will stay like that and CL's are kinda generous too!

 

Good Luck!

Aim to be fiscally and physically fit...
EQ - 723 FICO as of Aug 2010
TU - 757 FICO as of Sept 2010
EX - 742 FICO as of Oct 2010 (PSECU)
Regular Contributor
spiritcraft1
Posts: 163
Registered: ‎08-15-2008
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Re: Questions re US Bank, LL Bean CC offers and...

Where in Illinois?  Our personal and business CU in BCU (Baxter Credit Union).  They have great products, you are a person not a number there, great free checking that earns 4%, Auto loans at 3.99% etc...  At least try them...  they pull TU and one pull lasts for 90 days.
11/6/09 TU 724 / EX 739 (FICO from CU) / EQ 701
Valued Member
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Posts: 43
Registered: ‎10-02-2007
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Re: Questions re US Bank, LL Bean CC offers and...

I recommend USBank, but not the card offer your received.  Your credit is great so no worries about approval.  The American Humane cards with USBank have 0% everything and no BT fee when applying.  I got one and it's been good to me.  Try the link.

 

https://applications.usbank.com/oad/begin?locationCode=9584&sourceCode=76024

*US Bank Signature Visa $25,000; *Chase Flexible Rewards Visa Signature $20,000; *BOA Accelerated Rewards AMEX $17,500; *Citi Platinum Select MC $13,000; *Discover More $12,000; *PenFed Visa Gold $10,000; *Home Depot $2,200
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Creditaddict
Posts: 22,096
Registered: ‎10-23-2007
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Re: Questions re US Bank, LL Bean CC offers and...

I LOVE USBANK and everyone says they are a conservative bank which I think they even say but yet they are my HIGHEST CL and I carry very high balances with them, use BT offers constantly whenever I get it paid down and they still have only continued to increase the CL VS chasing balance or anything.  you can ask for no pull CLI every 6 months.  They are just fabulous and they start approving with scores over 680, so you should have no issue.
Fico Scores: EQ- 626 Overstck., TU 696 Walmart, EX 695 Chase (11-05-14)
You will have to put up Electric Fence to keep me in the garden!
Highest Limit: Navy Federal Cash Sigi Visa $50k (AU)
Lowest Limit: Target $200
66 Cards and Counting :smileytongue:
Established Member
Posts: 30
Registered: ‎06-18-2009
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Re: Questions re US Bank, LL Bean CC offers and...


creditwherecreditisdue wrote:

 

The FICO scoring algorithm/report has to spew out one negative reason at the score level you are both at and that is the worst thing it could find. If 4% UTIL is the worst thing about your CBR you are in excellent shape!


Wheww! Good to know, I was beginning to wonder! As for USB planning to stop automatic CLIs, that's something we'll have to consider. But if either or both of us apply, hopefully the card will live up to its name for generous opening limits, and APRs won't quickly go sky high.

 

Thanks a lot for your reply.


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