@Gotons wrote:
Anyone had much luck with this card? According to their website, it looks like they do offer graduation if you meet their requirements after 12 months. They do have a $35 AF and subject to a minimum 20.99 APR. I'm going into their office to apply for a checking account on Thursday. I applied online for one in 2007 and must have had something in Chex so they denied me, or credit wise. A CSR over the phone told me that once you're denied an online app for an account, you were always be denied online but to go to a branch and apply. If still denied to go for their second chance checking. I figure while I'm there, I can inquire about the US Bank secured card, but was wondering if anyone else has one and if they're satisfied with it.
I do not have their secured card nor do I know anyone with one, but I do know a bit about US BANK, having been banking with them over 20 years.
They are a fairly conservative bank. I also looked on their website and if you look at the application it states it will be declined if their is a bankruptcy on your credit report. I do not know if this is applicable to you, but it is a reason. They also said you would have to print this application out and mail it in.
I do know that US BANK is going to get rid of their online CC applications to the point that people will have to send them in. Much like they are also going to eliminate Automatic CLI's and only look at those made by the account holder in person. (By phone or mail, not over the computer)
One of the most innovative features you mention is what the call "Second Chance Checking". US BANK will open a checking account for a person even if they are in the CHEX SYSTEM as long as they have never had a problem with a US BANK ACCT or any criminal activity/fraud is reported on CHEX.
They also will issue a Debit Card with the new "Second Chance Acct" and is actually one of the few banks that will do this. It has been a very successful program as they tell me that the rate of abused accts is lower with Second Chance Accts then it is with regular accts.
Like any institution, you will find people saying GOOD or BAD things about them here. Personally, I can say nothing bad about them or my service with them.
Best of luck with whatever you decide to do.
