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Regular Contributor
brian2220
Posts: 118
Registered: ‎04-17-2011
0

Thank You Us Bank

[ Edited ]
Just found out Us bank just approved me for a $5000 flex points credit card after almost 2 weeks even with 5 inquiries on ex and 6 on eq.
Does anyone know if us bank issues visa signature cards 
 
 
and does anyone know how long it takes to show up in on the us bank website with my other accounts 
My Cards
BBVA/Compass 2/12 $ 5000 ----- Chase Freedom 12/10 $3000 ---- Cabela's 1/12 $3000 -----US Bank FlexPerks Cash Rewards 6/11 $3000 ----Walmart Discover 10/11 $2814 ------ Discover More 11/11 $2500 ----- Amazon Store Card 2/11 $2100---- Amex Zync 4/11 ---- Citi Dividend Platinum Select 3/11 $1950 ---- BofA Cash Rewards 12/11 $1000
Valued Contributor
Mustanglvr2006
Posts: 1,971
Registered: ‎02-06-2011
0

Re: Thank You Us bank and myfico forums

[ Edited ]



brian2220 wrote:

Just found out Us bank just approved me for a $5000 flex points credit card after almost 2 weeks even with 5 inquiries on ex and 6 on eq.

Does anyone know if us bank issues visa signature cards 


Just wanted to say Congratulations!!!

 

I don't know if US Bank issues visa signature cards, my BoA is a visa signature card, its listed on my credit report as a "Flexible Spending Credit Card"

 

I didn't know it was not going to show a CL until it listed on my reports, its no real big deal because I have somewhere around 29K avail revolving credit (without BoA's 5000CL)  but it would have been nice to have that CL showing for util (which is 2% now)

 

Whats funny is, I called BoA asking about this and the rep I spoke to started telling me about "High Balance" on my credit report and I could just go ahead and charge 5000 on it so that way it will show my "High Balance of 5000" as at least a 5000CL.............I was like well, thanks for THAT advice, but I'll pass. I just thought that was a bit funny (his advice).

 

I would much rather have the 5000CL listed on my reports for util, opposed to showing a "High Balance" of 5k.

 

Anyway, Congratulations again!!




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Valued Contributor
Imhotrodcrazy
Posts: 1,524
Registered: ‎03-11-2009
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Re: Thank You Us bank and myfico forums


brian2220 wrote:

Does anyone know if us bank issues visa signature cards 


 

I saw 4 listed when I checked the site.

 

FICOS
TU 805 10/18/14
EX 806 10/26/14
EQ 824 10/31/14

NASA 30K / / Amex 16.5k / / Chase Freedom 10.6k / / / / / SD'd US Bank Cash+ 20k, LOC 15k
Valued Contributor
Uborrow-Upay
Posts: 2,710
Registered: ‎10-16-2008
0

Re: Thank You Us bank and myfico forums

@brian2220:  Congrats on that new card!!  :smileyhappy:

 

@Mustanglvr2006:  Actually, that CSR was giving you a workaround.  It's been a while, so I may be off base with the details (someone else here will fill those in), but when a Flexible Spending card doesn't report the CL, sometimes the "High Balance" is used in place of that CL, helping your utilization.

 

In the past, some folks would buy liquid assets on their FS cards, wait for the statement to drop (so it's reported), then cash in to pay the bill.  The high balance would report, and stay on there for quite a while in place of the non-reported CL, helping utilization overall.

 

You'll take a hit for letting a really high balance report on the card for that one month, but when you zero it out for the following reporting period, you'll have increased your available credit by the amount of that high balance for util. percentages.

 

Sorry if this is confusing.  Somebody else here can explain this much better than I can, and things may have changed also.  But that CSR was actually trying to help, I'd give him/her a couple of points for trying!  :smileyhappy:

 

 

Valued Contributor
Mustanglvr2006
Posts: 1,971
Registered: ‎02-06-2011
0

Re: Thank You Us bank and myfico forums


Uborrow-Upay wrote:

@brian2220:  Congrats on that new card!!  :smileyhappy:

 

@Mustanglvr2006:  Actually, that CSR was giving you a workaround.  It's been a while, so I may be off base with the details (someone else here will fill those in), but when a Flexible Spending card doesn't report the CL, sometimes the "High Balance" is used in place of that CL, helping your utilization.

 

In the past, some folks would buy liquid assets on their FS cards, wait for the statement to drop (so it's reported), then cash in to pay the bill.  The high balance would report, and stay on there for quite a while in place of the non-reported CL, helping utilization overall.

 

You'll take a hit for letting a really high balance report on the card for that one month, but when you zero it out for the following reporting period, you'll have increased your available credit by the amount of that high balance for util. percentages.

 

Sorry if this is confusing.  Somebody else here can explain this much better than I can, and things may have changed also.  But that CSR was actually trying to help, I'd give him/her a couple of points for trying!  :smileyhappy:

 

 


Thanks for that info, I appreciate it.

 

I was also told by the rep with the BoA Visa Signature Flexible Spending Card I am able to go over my CL if I need to, I think he said that I would just need to call BoA first tell them what I'm wanting to purchase over 5000K and they would let me know if I could go ahead and make the purchase.

 

Thanks again for that information.


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Current Score: 3-03-12-EQ-802 TU-806 EX-798 (EQ Beacon 9: 804 Lender Pull 3-08-12) All FICO's
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