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Anonymous
Not applicable

US Bank

After seeing several threads about US Bank, DH decided to app - he got the 7-10 day message, and I sat back to see which bureau they pulled. 

An inquiry never appeared, but yesterday, we received a letter indicating that they can't consider our app b/c our residence is outside of their trade area.

 

Has anyone else ever seen/heard of this? 

 

We are in Texas...

 

***********************************************************************
800FICOwannabe

07/01/09 - FICO scores: EQ - 696, TU - 622 (Asset Acceptance reinserted as a new collection)
06/01/09 - FICO scores: EQ - 637, TU - 641
05/04/09 - FICO scores: EQ - 660, TU - 647
04/21/09 - FICO scores: EQ - 711, TU - 642
09/09/08 - Mortgage Enhanced: EQ - 607, EX - 556, TU - 534

 

 

 

Message 1 of 13
12 REPLIES 12
creditwherecreditisdue
Senior Contributor

Re: US Bank


@Anonymous wrote:

After seeing several threads about US Bank, DH decided to app - he got the 7-10 day message, and I sat back to see which bureau they pulled. 

An inquiry never appeared, but yesterday, we received a letter indicating that they can't consider our app b/c our residence is outside of their trade area.

 

Has anyone else ever seen/heard of this? 

 

We are in Texas...

 

***********************************************************************
800FICOwannabe

07/01/09 - FICO scores: EQ - 696, TU - 622 (Asset Acceptance reinserted as a new collection)
06/01/09 - FICO scores: EQ - 637, TU - 641
05/04/09 - FICO scores: EQ - 660, TU - 647
04/21/09 - FICO scores: EQ - 711, TU - 642
09/09/08 - Mortgage Enhanced: EQ - 607, EX - 556, TU - 534


Yes. Many, maybe even most, non-internet banks will not accept applications for credit from those living outside their service areas. Nothing sinister going on at all. That's just the way it is.

Message 2 of 13
Anonymous
Not applicable

Re: US Bank

The only other major bank that does this that I'm aware of is National City. You can avoid this problem with both US Bank and National City by applying for one of their cobranded or affinity cards instead.
Message 3 of 13
Anonymous
Not applicable

Re: US Bank

Do you know who those "cobranded/affinity" cards are?
Message 4 of 13
cabana7
Valued Member

Re: US Bank

Academy (sporting goods) or Harley Davidson are cobranded but be careful they don't like inquiries even if you have a high credit score  Smiley Wink
Message 5 of 13
ocheosa
Valued Contributor

Re: US Bank

US Bank has a cobranded Bed Bath & Beyond variable APR 14.99%. Maybe you have a store in your area?

  

https://applications.usbank.com/oad/begin?locationCode=6309&productId=20&sourceCode=59003&theme=usba...

[4/23] Scores 8/9: 700-800s. Util: 1%. Inq/12: EQ 0, EX 5, TU 1. AoOA=14.8y, AoYA=9m.
TCL $618K: Personal $512K, Business $106K.
Message 6 of 13
mt2va
Established Contributor

Re: US Bank


@Anonymous wrote:

After seeing several threads about US Bank, DH decided to app - he got the 7-10 day message, and I sat back to see which bureau they pulled. 

An inquiry never appeared, but yesterday, we received a letter indicating that they can't consider our app b/c our residence is outside of their trade area.

 

Has anyone else ever seen/heard of this? 

 

We are in Texas...

 

 

 


I had this same thing happen.  I'm in  Virginia.  I also tried as another poster suggested the Bed Bath & Beyond co-branded MC & was denied.  My scores are a bit lower than yours. 

 

Starting Scores 10/12: EQ 460 (FICO)/TU 502 (FAKO)/EX 474 (FAKO)
(7/14): EQ 572 (FICO)/TU 624 (FICO)/ EX 612 (FICO)

Current (2016): EQ 605 (FICO)/TU 657 (FICO)/EX 646 (FICO)




Message 7 of 13
ocheosa
Valued Contributor

Re: US Bank


@mt2va wrote:

@Anonymous wrote:

After seeing several threads about US Bank, DH decided to app - he got the 7-10 day message, and I sat back to see which bureau they pulled. 

An inquiry never appeared, but yesterday, we received a letter indicating that they can't consider our app b/c our residence is outside of their trade area.

 

Has anyone else ever seen/heard of this? 

 

We are in Texas...

 

 

 


I had this same thing happen.  I'm in  Virginia.  I also tried as another poster suggested the Bed Bath & Beyond co-branded MC & was denied.  My scores are a bit lower than yours. 

 


I find this so strange, I am in NJ - You are actually closer to a brick & mortar branch than me. I do not understand how a "trade area" is determined? Can someone please explain?

[4/23] Scores 8/9: 700-800s. Util: 1%. Inq/12: EQ 0, EX 5, TU 1. AoOA=14.8y, AoYA=9m.
TCL $618K: Personal $512K, Business $106K.
Message 8 of 13
Anonymous
Not applicable

Re: US Bank


@ocheosa wrote:

@mt2va wrote:

I find this so strange, I am in NJ - You are actually closer to a brick & mortar branch than me. I do not understand how a "trade area" is determined? Can someone please explain?


-They view their credit card and interest rates as an incentive to generate brick and mortar business. So they only want locations that facilitate this.
-They simply do not want to extend business to specific geographic or economic areas. There are entire Zip codes in Ohio  that banks will not finance home loans on

-they have some statute or agreement that limits their buisiness area.


Are you living in the Continental US?

Message 9 of 13
ocheosa
Valued Contributor

Re: US Bank


@Anonymous wrote:

@ocheosa wrote:

@mt2va wrote:

I find this so strange, I am in NJ - You are actually closer to a brick & mortar branch than me. I do not understand how a "trade area" is determined? Can someone please explain?


-They view their credit card and interest rates as an incentive to generate brick and mortar business. So they only want locations that facilitate this.
-They simply do not want to extend business to specific geographic or economic areas. There are entire Zip codes in Ohio  that banks will not finance home loans on

-they have some statute or agreement that limits their buisiness area.


Are you living in the Continental US?


 

Yes, I am in New Jersey. Thanks for the explanation. So if the bank cannot finance the loan does this mean it is USDA loan areas or something to this effect?

[4/23] Scores 8/9: 700-800s. Util: 1%. Inq/12: EQ 0, EX 5, TU 1. AoOA=14.8y, AoYA=9m.
TCL $618K: Personal $512K, Business $106K.
Message 10 of 13
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