So i just tried the US Bank Prequal page and got this message...Are these actual pre-approvals? I'm hesitant to apply and add another hard pull. Do they even approve people in the low 600's? I'd LOVE to have the REI Visa. Anyone had any experience with this page? (Sorry for the quality, couldn't do a screen shot)
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U.S. Bank Visa® Platinum Card
- 0% introductory APR* on purchases and balance transfers for the first 15 billing cycles. After that, a variable APR applies, currently 9.99% - 23.99%, based on your creditworthiness.
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U.S. Bank Cash Rewards Visa® Card
- 0% introductory APR* on purchases and balance transfers for the first 12 billing cycles. After that, a variable APR applies, currently 13.99% - 23.99%, based on your creditworthiness.
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REI Visa® Card27
- 0% introductory APR* on purchases and balance transfers for the first 9 billing cycles. After that, a variable APR applies, currently 10.99% - 22.99%, based on your creditworthiness.
- $100 REI Gift Card31
- 5% back at REI29
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Starting Score: 525
Your Card Offers See All Cards Compare These Cards Recommended for You Apply Now U.S. Bank Visa® Platinum Card •0% introductory APR* on purchases and balance transfers for the first 15 billing cycles. After that, a variable APR applies, currently 9.99% - 23.99%, based on your creditworthiness. • Zero Fraud Liability - No need to worry, you won't be responsible for unauthorized purchases.8 •Free Online Account Access – The easiest way to bank online! • No annual fee Recommended for You Apply Now U.S. Bank Cash Rewards Visa® Card •0% introductory APR* on purchases and balance transfers for the first 12 billing cycles. After that, a variable APR applies, currently 13.99% - 23.99%, based on your creditworthiness. •$50 cash-back bonus when you make $500 in net purchases within the first 90 days.83 •Earns 1% cash back on all net purchases charged to the account. •There is no limit on how much cash back you can earn Recommended for You Apply Now REI Visa® Card27 •0% introductory APR* on purchases and balance transfers for the first 9 billing cycles. After that, a variable APR applies, currently 10.99% - 22.99%, based on your creditworthiness. •$100 REI Gift Card31 •5% back at REI29 •1% back everywhere else Visa is accepted30
That didn't work very well either. Anyway, if anyone has experience with this page, any insight would be greatly appreciated!
This is 100% not a preapproval. If you notice, the APR listed gives a range (9% to 22%). There's also the lack of the opt out prescreen notice which will always be listed on a preapproval if they actually used info in your credit report to make a firm offer of credit. Generally speaking, the US Bank prequal site is not to be trusted.
As far as the REI card, I'd say if you're 700+, no derogs and no new accounts in the past 3 to 6 months, you may be okay. Otherwise, I'd steer clear until then. US Bank is one of the more conservative lenders out there.
Hope this helps.
Thanks for all the info! I'll definiteily hold off.
@Creditaddict wrote:USbank use to not give any approvals to under 680... not sure where they stand now.
I believe this is still the case. When I "graduated" from secured to Platinum, the analyst told me the floor was ~680 and a 'clean' report the last 12 months. As far as their sig cards, it's much higher (although relationships do seem to matter A LOT with them...I was able to get the Cash+ with ~700 score which is well below what most people have indicated is required).
