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US Bank Cash + Changes and New Cards June 20th.

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Royalbacon
Frequent Contributor

Re: US Bank Cash + Changes and New Cards June 20th.


@longtimelurker wrote:

Can't remember if they used to give Cash + with limits under $5k, or if that was a firm line (like CSP).  

Before the Cash+ was always a Visa Signature and needed atleast a $5000 credit limit.

 

I wonder if the 1.5% cashback Cash 365 Amex requirements are similar to the 1% cashback Cash Rewards Visa were. Or if it has higher requirements because it's an Amex...? Or if the 1.5% cashback rather then 1% cashback makes a difference in terms of qualifying for it.

Chapter 7 Bankruptcy Filed-September 2020 Discharged-December 2020
Kohl's Credit Card $3000 Limit (Opened October 2016) Survived Bankruptcy for whatever reason
Closed Capital One Venture One $3000 Limit (Opened December 2020, Closed by me September 2022 since I wanted the SavorOne and couldn't product change to it)
Capital One Auto Loan (Opened March 2021)
Capital One Cabela's $5000 Limit (Opened December 2021)
America First Credit Union Visa $1000 Limit (Opened December 2021)
Capital One SavorOne $5000 Limit (Opened September 2022)
Sam's Club Mastercard Synchrony Bank $2500 Limit (Opened March 30 2023) (Burned Synchrony in my CH7 BK, One card with a $745 balance)
Idaho Central Credit Union ICCU Visa $10,000 Limit (Opened April 2023)
Message 71 of 115
CreditMagic7
Mega Contributor

Re: US Bank Cash + Changes and New Cards June 20th.


@Royalbacon wrote:

@longtimelurker wrote:

Can't remember if they used to give Cash + with limits under $5k, or if that was a firm line (like CSP).  

Before the Cash+ was always a Visa Signature and needed atleast a $5000 credit limit.

 

I wonder if the 1.5% cashback Cash 365 Amex requirements are similar to the 1% cashback Cash Rewards Visa were. Or if it has higher requirements because it's an Amex...? Or if the 1.5% cashback rather then 1% cashback makes a difference in terms of qualifying for it.


Good question.

 

Shame really that US Bank waited this long to do something like a 1.5% CB.

 

I never got to the Cash+ 5% card myself because their conservative policies prevented squeezing out enough to make the $5K eligibility limit a year or so ago and not sure if they even cared that much.

 

What does happen is that people get disgusted and turn attention to their competitors instead and there goes a ton of business in the opposite direction which builds profits for those lenders instead.

 

The old saying of if you snooze you lose applies.

Message 72 of 115
galahad15
Valued Contributor

Re: US Bank Cash + Changes and New Cards June 20th.


@kdm31091 wrote:

Sorry for the denial. Honestly surprised they decided so quickly as it usually takes a few days either way. Unfortunately that leads me to think it may be a pretty firm denial.


Ya you're 100% right kdm, my gut feeling is that it is a firm denial, if only due to the lack of lead wait time.  I think maybe one possible reason for denial is that I have 17 inquries on EQ, but about 10-12 of those inquries were generated when I was applying for a car loan in early 2015.  (By contrast, I have like 7 inquries on EX, and 4 on TU.)

 

When I did the recon, I spoke with US Bank underwriting, but does anyone know if I may potentially have any more luck with the recon by calling one of the other US Bank backdoor numbers?  (ETA:  US Bank transferred me directly to their underwriting dept. when I spoke with them, I did not dial any sort of backdoor number at the time.)

 

ETA:  tbh, I would have even been happy with a significantly smaller SL that I could have grown over time, had they approved me...that's what I did when I applied for my Barclay Ring in 2013, and at that time, my scores were in the mid- to upper-600's.  Alas...


Message 73 of 115
deltatee
Frequent Contributor

Re: US Bank Cash + Changes and New Cards June 20th.

I totally agreed that their policies giving out the cash rewards instead of a visa platinum discouraged people from applying.

I think the Cash + is a terrific card and would've applied awhile ago because I can work with a small limit, but I cannot work with the cash rewards card. Now that the policy has changed, most of my categories are covered, so there isn't much of a need for me to get it anymore.

Message 74 of 115
kdm31091
Super Contributor

Re: US Bank Cash + Changes and New Cards June 20th.


@galahad15 wrote:

@kdm31091 wrote:

Sorry for the denial. Honestly surprised they decided so quickly as it usually takes a few days either way. Unfortunately that leads me to think it may be a pretty firm denial.


Ya you're 100% right kdm, my gut feeling is that it is a firm denial, if only due to the lack of lead wait time.  I think maybe one possible reason for denial is that I have 17 inquries on EQ, but about 10-12 of those inquries were generated when I was applying for a car loan in early 2015.  (By contrast, I have like 7 inquries on EX, and 4 on TU.)

 

When I did the recon, I spoke with US Bank underwriting, but does anyone know if I may potentially have any more luck with the recon by calling one of the other US Bank backdoor numbers?  (ETA:  US Bank transferred me directly to their underwriting dept. when I spoke with them, I did not dial any sort of backdoor number at the time.)

 

ETA:  tbh, I would have even been happy with a significantly smaller SL that I could have grown over time, had they approved me...that's what I did when I applied for my Barclay Ring in 2013, and at that time, my scores were in the mid- to upper-600's.  Alas...


I don't think there is much of a backdoor number with US Bank -- I think the number available on these forums is just the same underwriting department. To my knowledge, there is no "higher up" number available.

 

If you feel strongly, call in and plead your case. I can't say I've really heard of US Bank overturning decisions though.

Message 75 of 115
Anonymous
Not applicable

Re: US Bank Cash + Changes and New Cards June 20th.


@kdm31091 wrote:

@galahad15 wrote:

@kdm31091 wrote:

Sorry for the denial. Honestly surprised they decided so quickly as it usually takes a few days either way. Unfortunately that leads me to think it may be a pretty firm denial.


Ya you're 100% right kdm, my gut feeling is that it is a firm denial, if only due to the lack of lead wait time.  I think maybe one possible reason for denial is that I have 17 inquries on EQ, but about 10-12 of those inquries were generated when I was applying for a car loan in early 2015.  (By contrast, I have like 7 inquries on EX, and 4 on TU.)

 

When I did the recon, I spoke with US Bank underwriting, but does anyone know if I may potentially have any more luck with the recon by calling one of the other US Bank backdoor numbers?  (ETA:  US Bank transferred me directly to their underwriting dept. when I spoke with them, I did not dial any sort of backdoor number at the time.)

 

ETA:  tbh, I would have even been happy with a significantly smaller SL that I could have grown over time, had they approved me...that's what I did when I applied for my Barclay Ring in 2013, and at that time, my scores were in the mid- to upper-600's.  Alas...


I don't think there is much of a backdoor number with US Bank -- I think the number available on these forums is just the same underwriting department. To my knowledge, there is no "higher up" number available.

 

If you feel strongly, call in and plead your case. I can't say I've really heard of US Bank overturning decisions though.


They denied my Cash+ application last July. I sent a recon letter to their EO (physical snail mail letter via USPS) and that got me in the door.

Message 76 of 115
galahad15
Valued Contributor

Update: Good News; US Bank Cash+ recon successfully approved!

A quick update & some good news to report:  after an initial denial yesterday, my US Bank Cash+ recon has been successfully approved as of today!  Smiley Happy  I called the application status line this morning and the automated system said something to the effect of "Congratulations, you are approved, and will receive your card in 7-10 business days."  The automated system didn't elaborate on what my SL is, but I will definitely be very happy and delighted with whatever SL they give me.


Message 77 of 115
Anonymous
Not applicable

Re: US Bank Cash + Changes and New Cards June 20th.

Also what I have experienced in the past is when we call for recon of application the call gets transferred to the original underwriter who handled the case!!
Message 78 of 115
Anonymous
Not applicable

Re: Update: Good News; US Bank Cash+ recon successfully approved!


@galahad15 wrote:

A quick update & some good news to report:  after an initial denial yesterday, my US Bank Cash+ recon has been successfully approved as of today!  Smiley Happy  I called the application status line this morning and the automated system said something to the effect of "Congratulations, you are approved, and will receive your card in 7-10 business days."  The automated system didn't elaborate on what my SL is, but I will definitely be very happy and delighted with whatever SL they give me.


SUHWEEET!  Congrats on the approval!  Talk about defining YMMV.  I kept reading, us bank doesnt really recon, but you did it!  Made my day!

Message 79 of 115
Anonymous
Not applicable

Re: Update: Good News; US Bank Cash+ recon successfully approved!


@galahad15 wrote:

A quick update & some good news to report:  after an initial denial yesterday, my US Bank Cash+ recon has been successfully approved as of today!  Smiley Happy  I called the application status line this morning and the automated system said something to the effect of "Congratulations, you are approved, and will receive your card in 7-10 business days."  The automated system didn't elaborate on what my SL is, but I will definitely be very happy and delighted with whatever SL they give me.


Congrats, I had to recon mine twice to get my $300 cash rewards. bleh. 

Message 80 of 115
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