US BANK secured question

[damnedanddetermined]

I applied a week or so ago online....got the ' we will let you know in 10 days after verification, bla, bla, bla".....I wrote it off thinking it was a nice denial. Yesterday I check my bank acct. and see where US Bank has withdrawn my $300. Does this actually mean they have approved me, or just using my money until a denial letter can be sent? NOTHING has shown up on my fico.

[CreditCuriosity]

If they withdrew your money I would think that would be an approval. 

[Anonymous]

I agree wth @CC.  Once the money is taken out of your account, you will be approved and be getting the card.  So it is just waiting time now-

[damnedanddetermined]

well crap! If I'd have known that, I would have given a larger security. Cn you add to this card after the fact? Thanks guys for your imput )

[damnedanddetermined]

wonder why it hasnt shown up on myfico?

[CreditCuriosity]

No clue if you can add upon security deposit with US Bank secured card.. Sure others will ring in on this...  It also will possibly take a month or two to report to your CRA's as well depending when they report.

[Anonymous]

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@damnedanddetermined wrote:

I applied a week or so ago online....got the ' we will let you know in 10 days after verification, bla, bla, bla".....I wrote it off thinking it was a nice denial. Yesterday I check my bank acct. and see where US Bank has withdrawn my $300. Does this actually mean they have approved me, or just using my money until a denial letter can be sent? NOTHING has shown up on my fico.

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You are approved.  I had the same process and verbage when I had my US Bank secured card.  I don't recall exactly how long it took to show up on my CR's but best i recall it was just under 1 month.

[Anonymous]

Just went through this with my husband and this is exactly what happened.  The whole process was long, I think it was maybe 3 weeks before he had the card in hand.

Also, when he got the card it came with instructions on how to add money to the account.  I believe you have to mail in a check.

Good luck!

[Anonymous]

Approved. Congrats!

[Anonymous]

Adding to us bank is a bit of a convoluted process and they "may pull your credit" which sounds like a HP to me. But it is available as an option.