U.S. Bank Cash + Debacle - I am Peeved!

[trishdadish]

About 2 months ago, I went inside a U.S. Bank branch and app'd for the Cash +. My EQI score was in the low 700's, and I was only approved for the Rewards card. The banker said that with my score and income, the only thing that he could think was that it was a collection on there that got me excluded from the card that I had wanted.  This was a brand-new collection, it had posted either that day or the day before, apparently. Anyway, I looked at the report, and the collection was false. So I disputed with all 3 credit agencies, and it has now been removed from all 3 reports. My scores increased by 80-100 or so points.

I began thinking about how unfair it was to be judged by false info., and I decided to contact U.S. Bank and explain what had happened. If they needed to re-pull my report, I was cool with this, because I would rather be rejected for credit on my own merits, and not based on some garbage that I had no control of on my report. I spoke to a very nice CSR who said that first she would put a request in for increasing my limit from $3500 to $5000; then, after that came back approved, she would put an app in to have me re-considered for the Cash + card. I asked her to please note in my account what had happened with my original credit report.

Well, they pulled TU this time. MyTU is somewhere between 765-780ish, based upon both my Walmart TU for this month and my Amex Credit Secure TU for this month. Income sits in the mid-high 5 range. Car note, no other debt currently reporting on any of the reports, and low CC utilization (get praised for this on my reports).

I received a letter last night  from U.S. Bank, stating that they could not approve my CLI request at this time,until I have 6 months' experience at my current credit level. **bleep**? Why did they pull my TU and why did the CSR tell me otherwise, then? I've read of plenty of others on here who've been PC'd from Rewards to + prior to 6 months! They provided no TU score in the letter that they sent me.

I am furious, not because they have a 6 months policy, but because they failed to communicate this to me, wasted my time, and ran my credit for NOTHING. What would you do? My instinct is to light up their phone lines, all the way to the top, with my opinion of U.S. Bank and how I had considered opening an account and moving my main direct deposit income over there, but now I wouldn't touch them with a 10-ft. pole!

[Revelate]

Personally I'd just let it go.  CSR's often don't have the correct information, and it's not breaking the law in the miscommunication with the way things stand now.  They had permissible purpose to pull your report, and that's the only damage in this case and it's pretty minimal (especially on TU unless you live in the mid-West). 

Highly fustruating, and I don't disagree with your decision to not pursue further business with them based on your experience; however, taking exception to it and escalating as high as it can go is likely to be a non-trivial amount of time, with additional fustruation both on your and USBank's side, resulting in likely no change.  If you still want the Cash+ as a straight financial decision after this ordeal, I'd sit on my hands and simply request it later after six months of using the current card.

[toppers555]

Doubt it will do much good but give csr a hilarious call. You applied over 30 days ago. You may be able to get help from executive office or perhaps work with your banker.

[fedxboy]

From your signature, it looks like you've already opened a plethora of cards -- in the last 3 months (6) and an auto loan (1).   Granted, they are all prime cards and relatively new, so aging them would be your best bet!

My US Bank Cash card was originally a Flex Perks Cash and was my 1st prime card received back in Aug 2011.  Still sits at the current limit and never increased: 3500 with a 16.99 APR.  I've used it heavily and still no love.  They usually offer BT's at 3-4% and 2.99 APR.  I'm over them and not using it anymore, till they show me some love    USAA, CHASE, CITI, B of A, all gave me BT's at 1-3% and 0 APR.   Bye bye US Bank!

[YahComb]

I really don't understand their criteria for this card. people with IMO better profiles than mine have been denied for the cash+ and given the cash rewards, sometimes even with 5K+ limits. But sometimes they seem really lenient and out of the blue give a quick CLI and PC  people over to the cash+ wihtin the next 10 weeks, so it might not end up taking the whole 6 months-but i think just about every CSR is going to tell you 6 months so don't be surprised if it actually takes that long.

[ztnjpv]

http://www.consumerfinance.gov/

Try that link. It's just a stab in the dark. I used it and it worked. 

This was my experience in the following link. You think YOUR case in a little convoluted and frustrating? Check mine out:

http://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/Frustrating-experience-trying-to-remove-a-pai...

What a mess that was!! That was just the beginning too. After many of tens of hours (literally) of fruitless efforts, I went through that link above. This was the result:

http://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/I-took-on-CAPITAL-ONE-and-I-won-Read-on/m-p/1...

(scroll up if it puts you in the middle of the thread)

It took literally less than 2 weeks....maybe just over a week. I don't remember. But rest assured: A complaint filed through that site gets the info in front of the right person. If they can't help you, I don't know what can. Good luck! I hope you try it. Just be as thorough and honest and precise as you can. 

[darkpearl]

I called them and told them I wanted to close the rewards account since it wasn't Cash+. Original analyst tranferred me to a real person who said she would put in the request once the account had been open for a month. If you are willing to risk actually closing the card just do that. I did not want the rewards card and was willing to close rather than play this game you are currently playing, and it worked out in my favor.

[RonDawg]

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@trishdadish wrote:

About 2 months ago, I went inside a U.S. Bank branch and app'd for the Cash +. My EQI score was in the low 700's, and I was only approved for the Rewards card. The banker said that with my score and income, the only thing that he could think was that it was a collection on there that got me excluded from the card that I had wanted.  This was a brand-new collection, it had posted either that day or the day before, apparently. Anyway, I looked at the report, and the collection was false. So I disputed with all 3 credit agencies, and it has now been removed from all 3 reports. My scores increased by 80-100 or so points.

I began thinking about how unfair it was to be judged by false info., and I decided to contact U.S. Bank and explain what had happened. If they needed to re-pull my report, I was cool with this, because I would rather be rejected for credit on my own merits, and not based on some garbage that I had no control of on my report. I spoke to a very nice CSR who said that first she would put a request in for increasing my limit from $3500 to $5000; then, after that came back approved, she would put an app in to have me re-considered for the Cash + card. I asked her to please note in my account what had happened with my original credit report.

Well, they pulled TU this time. MyTU is somewhere between 765-780ish, based upon both my Walmart TU for this month and my Amex Credit Secure TU for this month. Income sits in the mid-high 5 range. Car note, no other debt currently reporting on any of the reports, and low CC utilization (get praised for this on my reports).

I received a letter last night  from U.S. Bank, stating that they could not approve my CLI request at this time,until I have 6 months' experience at my current credit level. **bleep**? Why did they pull my TU and why did the CSR tell me otherwise, then? I've read of plenty of others on here who've been PC'd from Rewards to + prior to 6 months! They provided no TU score in the letter that they sent me.

I am furious, not because they have a 6 months policy, but because they failed to communicate this to me, wasted my time, and ran my credit for NOTHING. What would you do? My instinct is to light up their phone lines, all the way to the top, with my opinion of U.S. Bank and how I had considered opening an account and moving my main direct deposit income over there, but now I wouldn't touch them with a 10-ft. pole!

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I would tell you to go into a US Bank and speak to a personal banker they can help you get this taken care of.  I had the cash rewards card and it had a 2k limit I spoke with the Customer Service Manager at my local branch and she spoke with the Credit department, not only did they raise my credit limit to 5k but they converted my card to the Cash + all without a hard pull.  Its a matter of talking to the right person and being friendly at the same time. Most Personal bankers in my experience at US Bank will go out of their way to make you happy.

Thats my two cents worth anyways.