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Regular Contributor
Posts: 165
Registered: ‎04-21-2009
0

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...

 

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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

 

 

 

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


10/01/09 - FICO scores: 11/05/09: EQ - 722, TU 637 EQ - 713, TU - 622
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
Senior Contributor
Posts: 4,923
Registered: ‎04-19-2009
0

Re: US Bank


800FICOwannabe 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.

Frequent Contributor
Posts: 261
Registered: ‎01-20-2009
0

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.
Regular Contributor
Posts: 165
Registered: ‎04-21-2009
0

Re: US Bank

Do you know who those "cobranded/affinity" cards are?
***********************************************************************
800FICOwannabe


10/01/09 - FICO scores: 11/05/09: EQ - 722, TU 637 EQ - 713, TU - 622
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
Valued Member
Posts: 42
Registered: ‎11-08-2008
0

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
Frequent Contributor
Posts: 372
Registered: ‎06-15-2007
0

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...

01/04/10 TU 778 EQ 731
08/05/09 TU 762 EQ 722
02/12/09 TU 722 EQ 704 EX 690
EQ sensitive to inqs & student loan.
Established Contributor
Posts: 545
Registered: ‎03-20-2009
0

Re: US Bank


800FICOwannabe 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)
Current (7/14): EQ 572 (FICO)/TU 624 (FICO)/ EX 612 (FICO)



Frequent Contributor
Posts: 372
Registered: ‎06-15-2007
0

Re: US Bank


mt2va wrote:

800FICOwannabe 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?

01/04/10 TU 778 EQ 731
08/05/09 TU 762 EQ 722
02/12/09 TU 722 EQ 704 EX 690
EQ sensitive to inqs & student loan.
Valued Contributor
Posts: 1,668
Registered: ‎02-18-2009
0

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?

Signature line begins:
Credit is not a right, but a business transaction, one that takes into account risk, and charges accordingly based on that risk.
Your credit score is an aspect of your credit profile. Important? yes but just an aspect. Contributing/supplemental information determines the finer point of the deal. Ask any question, respect me not to get mad if the answer is not the affirmation you are looking for,
Frequent Contributor
Posts: 372
Registered: ‎06-15-2007
0

Re: US Bank


usmc58555 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?

01/04/10 TU 778 EQ 731
08/05/09 TU 762 EQ 722
02/12/09 TU 722 EQ 704 EX 690
EQ sensitive to inqs & student loan.

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