No credit card required
Browse credit cards from a variety of issuers to see if there's a better card for you.
I've been curious about US Bank lately, but can't find too much relevant talk on them. I currently have a Flexperks Select Visa that I got in August. I was shocked at the approval honestly as my TU Fico (08 BTW) was ony in the mid 660's, I had opened roughly 7 new account over the previous 5 months, utilization was at 39%, 19!! inquiries and to top it off my recommended cards on their prequal would always be for the contour prepaid debit card. As of now my utilization is actually higher than before, and my scores are up to the 670's. When I check their prequalifier I get offers for the Platinum Visa and Perks + Visa Sig. My main question is if anybody knows about the differences between 04 and 08? Also I would be interested in any ideas why US Bank would be a lender that likes my profile? I'm thinking they see me as a dependable balance carrier. I know that they depend on interest a bit less than many other financial institutions, so maybe they see a long history of perfect payments on everything except my student loans. Anybody who is familiar with them please chime in!
My 04 score is consistently about 15-20 points less than my 08 score, and both are util sensitive both for overall % and % on individual accounts. Frankly, I'm shocked that USB approved your application, especially with that many INQs. Your theory could be correct that they see you as a money-maker with interest charges. Are you reports clean other than high util / INQs?
I've only been here for a little while and haven't heard anything US bank related recently.
US Bank has alwasy been selective from my experience, but it does appear they might be loosening the strings a bit lately. I got a call from them to upgrade my platinum card i've had for 8 years to a cash+. I do have checking , LOC, and a direct deposit with them so I don't know if that matters. I haven't used that platinum card is quite some time maybe they are looking to expand their card sector. With low interest rates and cheap gasoline, retail looks strong so US Bank is looking to get us to charge it up!
I wonder if they are still using IDA/ARS as a supplemental credit resource? Maybe they got smart and ditched those 3rd party losers.
@dollar_bill wrote:US Bank has alwasy been selective from my experience, but it does appear they might be loosening the strings a bit lately. I got a call from them to upgrade my platinum card i've had for 8 years to a cash+. I do have checking , LOC, and a direct deposit with them so I don't know if that matters. I haven't used that platinum card is quite some time maybe they are looking to expand their card sector. With low interest rates and cheap gasoline, retail looks strong so US Bank is looking to get us to charge it up!
I wonder if they are still using IDA/ARS as a supplemental credit resource? Maybe they got smart and ditched those 3rd party losers.
Ice them just in case. The only important bureaus are the big 3 anyway.
@Duffenbrau wrote:My main question is if anybody knows about the differences between 04 and 08? Also I would be interested in any ideas why US Bank would be a lender that likes my profile? I'm thinking they see me as a dependable balance carrier.
No idea on either. We don't know the specifics of any scoring model and can only make guesses based on aggregated anecdotal evidence. As for US Bank, like any other creditor, they would like you even better with lower reported utilization. Keep in mind that your credit doesn't just determine approval but your APR and CL as well.
After my secured card graduated to US platinum I get an email offer to open a direct deposit account with them and receive a $200 credit in the new checking account. Of course I jump all over this....**bleep**....open a chekcing account and get $200. I can live with that and the 1099 reporting. Consequently, while opening the US Bank checking account online, I get an invite to apply for the US Bank Perks + visa card. So what the heck....I roll the dice and get the 7-10 day message.
Knew it was a long long and my TU can withstand an additional HP for now.
Whewn I do the the decline letter, The reason(s) were simply "due to numerous applications using this SSN". Now I wonder whether I should recon.....since US Bank did HP for my graduation, CLI, app for the US Bank Flex and opening of the new checking account.
As of yesterday, US Bank does still use ARS combined with TU (living in Oregon).Based on US Bank using the Trans Union FICO Risk Score Classic 04 with a range brtween 309 and 839....I was still able to score a 679.
So the diliema......since being blasted with multiple HP from US Bank....would anyone recon and push re-consideration since US Bank pulled the TU report so many times?