US Bank Cash+ Requirements

[Anonymous]

---

@destine2grow wrote:
I was under the impression that US Bank pulls EQ. I guess it depends on what geographical area you are in. Can anyone confirm that US Bank only pulls TU?

---

Last year for me they pulled TU however just this month when I used the prequalified option they used EQ and denied me. Not sure if once you have an account with them they pull another or if they changed something. 

[Swapmeet]

---

@destine2grow wrote:
I was under the impression that US Bank pulls EQ. I guess it depends on what geographical area you are in. Can anyone confirm that US Bank only pulls TU?

---

I'm in Los Angeles, and they pulled TU for me.

[dodgerslv]

Im in Nevada and they always pulled EX  for me on my 3 US Bank card applications. I assume relationship played a big factor on my approval for the Cash+ a couple of months ago...my EX Fico 04 score was only 652 and still got approved for 6k and had about 6 inquiries in the last 5 months.

[kroberts67]

---

@axledobe wrote:

As I'm sure you've read, US Bank is quite conservative. One thing to note is that they use TU 04 instead of TU 08 (the score Discover provides). Depending on the person, many times the 04 model score is lower. In my case, it's about 50 points lower. I was in the 770s per my Discover TU score and US Bank's TU score was 724. It's certainly something to consider. From my experience, the 04 model beats you up pretty badly for new accounts. 

That said, if you don't have baddies, your util is low and you have some history, you might get approved. US Bank beat the highest limit on my reports and started me out with 10K which was very surprising but I've banked with them for 13 years. You might consider waiting and apping after you have your first 5K card. 

Good luck whatever you decide. 

---

How does one obtain the TU 04 score?

[Involver]

US Bank seems to be another victim of hysteria, just like Barclays.

Was approved instantly with 8 new accounts in 12 months for 11,000, my second highest limit at that time.  No idea what my 04 score was at the time but 08 was 791.

[Swapmeet]

---

@Involver wrote:

US Bank seems to be another victim of hysteria, just like Barclays.

Was approved instantly with 8 new accounts in 12 months for 11,000, my second highest limit at that time.  No idea what my 04 score was at the time but 08 was 791.

---

I had to recon mine due to "new" accounts (hence my 5k limit I think), which were one 4 months old and one in its 6th month....so they care, at least a little, but my score was low 700s at the time, IIRC.

Another point/question: when I am in my account, it never says anything under "available credit," just a -. Is this normal? It has always been that way.

EDIT: I had no banking relationship with them, but I am seriously considering opening a business and personal checking with them.

[barthooper]

---

@Involver wrote:

US Bank seems to be another victim of hysteria, just like Barclays.

Was approved instantly with 8 new accounts in 12 months for 11,000, my second highest limit at that time.  No idea what my 04 score was at the time but 08 was 791.

---

Did you have a banking relationship with US Bank? Most of the time when I read approval stories like this, people already had a relationship. But with an 08 of 791 the 04 would be comfortably in the 700s anyway.

[Anonymous]

---

@Swapmeet wrote:

---

I had to recon mine due to "new" accounts (hence my 5k limit I think), which were one 4 months old and one in its 6th month....so they care, at least a little, but my score was low 700s at the time, IIRC.

Another point/question: when I am in my account, it never says anything under "available credit," just a -. Is this normal? It has always been that way.

EDIT: I had no banking relationship with them, but I am seriously considering opening a business and personal checking with them.

---

This is the way US Bank Visa Signature cards are reported in my experience. This indicates that its an open line, you may spend above the given credit limit, but if you do, you will be required to pay off the portion above your credit limit before due date or you will take a hit, probably a fee above and beyond interest. I have never exceeded the credit limit on one of my Visa signatures, so I'm not sure. US Bank always auto raised my CL if I ever got close to it.

Signature cards are kinda strange in that respect, having "open" credit limits, also referred to as "No set spending limit" in marketing material, and each lender seems to treat that aspect a bit differently. Thankfully, US Bank sets a CL that is reported to the CBs for ratio accounting. Some don’t from what I understand, and that can kill a person's revolving credit to use ratio.

With US Bank, you will have to look on your statement to find your reported CL.

Hope that helps!

[axledobe]

---

@kroberts67 wrote:

---

@axledobe wrote:

As I'm sure you've read, US Bank is quite conservative. One thing to note is that they use TU 04 instead of TU 08 (the score Discover provides). Depending on the person, many times the 04 model score is lower. In my case, it's about 50 points lower. I was in the 770s per my Discover TU score and US Bank's TU score was 724. It's certainly something to consider. From my experience, the 04 model beats you up pretty badly for new accounts. 

That said, if you don't have baddies, your util is low and you have some history, you might get approved. US Bank beat the highest limit on my reports and started me out with 10K which was very surprising but I've banked with them for 13 years. You might consider waiting and apping after you have your first 5K card. 

Good luck whatever you decide. 

---

How does one obtain the TU 04 score?

---

I'm not exactly sure it's available to the public. Unless I'm mistaken, the only way to know is app and look at the price you pay for credit disclosure if you don't qualify for their best terms. As far as I'm concerned, I'll always just guess it's about 50 points lower since it has been my experience.  Once my new accounts age, I'm sure that 50 point gap will lessen.